Exxonmobil Investment Management Inc. TX cut its position in shares of Campbell Soup (NYSE:CPB) by 13.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,583 shares of the company’s stock after selling 4,837 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Campbell Soup were worth $1,471,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Personal Financial Services raised its position in Campbell Soup by 180.9% during the 3rd quarter. First Personal Financial Services now owns 2,677 shares of the company’s stock valued at $125,000 after purchasing an additional 1,724 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in Campbell Soup during the 3rd quarter valued at $175,000. Victory Capital Management Inc. raised its position in Campbell Soup by 6.1% during the 2nd quarter. Victory Capital Management Inc. now owns 3,733 shares of the company’s stock valued at $195,000 after purchasing an additional 213 shares in the last quarter. First Allied Advisory Services Inc. raised its position in Campbell Soup by 6.3% during the 2nd quarter. First Allied Advisory Services Inc. now owns 3,847 shares of the company’s stock valued at $201,000 after purchasing an additional 227 shares in the last quarter. Finally, ETRADE Capital Management LLC bought a new stake in Campbell Soup during the 2nd quarter valued at $210,000. 46.05% of the stock is owned by institutional investors and hedge funds.
In other news, insider Edward Carolan sold 6,500 shares of Campbell Soup stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $48.15, for a total value of $312,975.00. Following the transaction, the insider now directly owns 41,506 shares in the company, valued at approximately $1,998,513.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Randall W. Larrimore sold 2,242 shares of Campbell Soup stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $48.69, for a total value of $109,162.98. The disclosure for this sale can be found here. Insiders sold a total of 15,284 shares of company stock worth $741,399 over the last quarter. Company insiders own 37.20% of the company’s stock.
Campbell Soup (NYSE CPB) opened at $46.96 on Thursday. Campbell Soup has a fifty-two week low of $44.99 and a fifty-two week high of $64.23. The stock has a market capitalization of $13,960.19, a price-to-earnings ratio of 16.42, a PEG ratio of 3.65 and a beta of 0.39. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.39.
Campbell Soup (NYSE:CPB) last announced its quarterly earnings results on Tuesday, November 21st. The company reported $0.92 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.97 by ($0.05). Campbell Soup had a net margin of 11.08% and a return on equity of 56.88%. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.17 billion. During the same quarter in the prior year, the business posted $1.00 earnings per share. The company’s revenue was down 1.9% compared to the same quarter last year. sell-side analysts anticipate that Campbell Soup will post 2.95 earnings per share for the current fiscal year.
Campbell Soup declared that its Board of Directors has authorized a stock buyback program on Monday, December 18th that allows the company to buyback outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, January 29th. Stockholders of record on Wednesday, January 10th will be issued a $0.35 dividend. The ex-dividend date is Tuesday, January 9th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.98%. Campbell Soup’s dividend payout ratio is presently 48.95%.
A number of equities research analysts have weighed in on CPB shares. Piper Jaffray Companies set a $50.00 target price on Campbell Soup and gave the company a “hold” rating in a research report on Wednesday, October 11th. Morgan Stanley decreased their target price on Campbell Soup from $47.00 to $46.00 and set an “underweight” rating for the company in a research report on Friday, October 13th. Royal Bank of Canada set a $56.00 target price on Campbell Soup and gave the company a “hold” rating in a research report on Wednesday, October 25th. UBS Group decreased their target price on Campbell Soup from $46.00 to $42.00 and set a “sell” rating for the company in a research report on Thursday, November 9th. Finally, Credit Suisse Group set a $41.00 target price on Campbell Soup and gave the company a “sell” rating in a research report on Friday, November 24th. Seven investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $50.08.
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Campbell Soup Company Profile
Campbell Soup Company is a food company, which manufactures and markets food products. The Company’s segments include Americas Simple Meals and Beverages; Global Biscuits and Snacks, and Campbell Fresh. The Americas Simple Meals and Beverages segment includes the retail and food service channel businesses.
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