Bredin Investment LLC bought a new position in shares of Campbell Soup (NYSE:CPB) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,951 shares of the company’s stock, valued at approximately $661,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. State of Alaska Department of Revenue boosted its holdings in Campbell Soup by 8.4% in the 4th quarter. State of Alaska Department of Revenue now owns 56,375 shares of the company’s stock worth $2,710,000 after acquiring an additional 4,380 shares during the period. Cordasco Financial Network purchased a new position in Campbell Soup in the 4th quarter worth approximately $144,000. Fox Run Management L.L.C. purchased a new position in Campbell Soup in the 4th quarter worth approximately $842,000. Acadian Asset Management LLC boosted its holdings in Campbell Soup by 419.4% in the 4th quarter. Acadian Asset Management LLC now owns 29,282 shares of the company’s stock worth $1,409,000 after acquiring an additional 23,644 shares during the period. Finally, Capital Investment Advisors LLC purchased a new position in Campbell Soup in the 4th quarter worth approximately $551,000. 47.79% of the stock is owned by hedge funds and other institutional investors.
Campbell Soup (NYSE CPB) traded up $0.31 during trading on Wednesday, hitting $46.96. The stock had a trading volume of 3,992,547 shares, compared to its average volume of 2,477,798. The stock has a market cap of $13,921.11, a PE ratio of 16.42, a P/E/G ratio of 3.64 and a beta of 0.32. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.39 and a current ratio of 0.77. Campbell Soup has a 12 month low of $43.50 and a 12 month high of $63.87.
Campbell Soup (NYSE:CPB) last released its earnings results on Tuesday, November 21st. The company reported $0.92 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.97 by ($0.05). The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.17 billion. Campbell Soup had a net margin of 11.08% and a return on equity of 56.88%. The business’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.00 earnings per share. equities analysts forecast that Campbell Soup will post 2.95 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, January 29th. Investors of record on Wednesday, January 10th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.98%. The ex-dividend date was Tuesday, January 9th. Campbell Soup’s dividend payout ratio is currently 48.95%.
Campbell Soup announced that its board has initiated a stock buyback plan on Monday, December 18th that permits the company to buyback outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.
A number of equities analysts have weighed in on the company. Royal Bank of Canada decreased their price target on Campbell Soup from $56.00 to $55.00 and set a “sector perform” rating for the company in a report on Monday, November 20th. Citigroup restated a “neutral” rating and issued a $54.00 price target (up previously from $50.00) on shares of Campbell Soup in a report on Wednesday, December 20th. JPMorgan Chase & Co. restated a “hold” rating and issued a $50.00 price target on shares of Campbell Soup in a report on Friday, December 15th. Zacks Investment Research upgraded Campbell Soup from a “sell” rating to a “hold” rating in a report on Tuesday, January 23rd. Finally, Wolfe Research assumed coverage on Campbell Soup in a report on Friday, January 26th. They issued a “market perform” rating for the company. Six analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. Campbell Soup has a consensus rating of “Hold” and a consensus price target of $50.08.
In related news, Director Randall W. Larrimore sold 2,242 shares of the company’s stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $48.69, for a total transaction of $109,162.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Carlos Barroso sold 4,300 shares of the company’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $48.86, for a total value of $210,098.00. Following the sale, the senior vice president now directly owns 29,119 shares in the company, valued at $1,422,754.34. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,284 shares of company stock worth $741,399. Corporate insiders own 37.20% of the company’s stock.
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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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