Gotham Asset Management LLC trimmed its position in shares of Campbell Soup (NYSE:CPB) by 56.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 170,121 shares of the company’s stock after selling 222,477 shares during the period. Gotham Asset Management LLC owned approximately 0.06% of Campbell Soup worth $8,185,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the business. Advisor Partners LLC grew its stake in Campbell Soup by 22.8% during the fourth quarter. Advisor Partners LLC now owns 5,779 shares of the company’s stock worth $274,000 after buying an additional 1,074 shares in the last quarter. Stifel Financial Corp grew its stake in Campbell Soup by 6.7% during the third quarter. Stifel Financial Corp now owns 17,993 shares of the company’s stock worth $839,000 after buying an additional 1,133 shares in the last quarter. First Personal Financial Services grew its stake in Campbell Soup by 44.0% during the fourth quarter. First Personal Financial Services now owns 3,856 shares of the company’s stock worth $186,000 after buying an additional 1,179 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Campbell Soup by 17.5% during the third quarter. Envestnet Asset Management Inc. now owns 8,529 shares of the company’s stock worth $398,000 after buying an additional 1,271 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in Campbell Soup by 1.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 108,596 shares of the company’s stock worth $5,225,000 after buying an additional 1,421 shares in the last quarter. Hedge funds and other institutional investors own 50.19% of the company’s stock.
A number of brokerages have issued reports on CPB. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $48.00 price objective (down from $50.00) on shares of Campbell Soup in a research note on Tuesday, February 20th. Wolfe Research began coverage on shares of Campbell Soup in a research note on Friday, January 26th. They set a “market perform” rating on the stock. Zacks Investment Research upgraded shares of Campbell Soup from a “sell” rating to a “hold” rating in a research note on Tuesday, January 23rd. Morgan Stanley reduced their price objective on shares of Campbell Soup from $49.00 to $46.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 20th. Finally, Piper Jaffray Companies downgraded shares of Campbell Soup from a “neutral” rating to an “underweight” rating and set a $59.00 price target on the stock. in a research note on Wednesday, February 28th. Six equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. Campbell Soup presently has an average rating of “Hold” and an average target price of $49.90.
In other Campbell Soup news, insider Luca Mignini acquired 4,400 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was acquired at an average price of $45.53 per share, for a total transaction of $200,332.00. Following the acquisition, the insider now directly owns 87,814 shares in the company, valued at $3,998,171.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Randall W. Larrimore sold 2,242 shares of the firm’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $48.69, for a total transaction of $109,162.98. The disclosure for this sale can be found here. 37.20% of the stock is owned by company insiders.
Shares of CPB stock opened at $42.27 on Friday. Campbell Soup has a one year low of $40.99 and a one year high of $59.14. The company has a quick ratio of 0.35, a current ratio of 0.64 and a debt-to-equity ratio of 1.15. The firm has a market cap of $12,655.55, a P/E ratio of 12.15, a PEG ratio of 2.57 and a beta of 0.38.
Campbell Soup (NYSE:CPB) last posted its quarterly earnings results on Friday, February 16th. The company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.19. Campbell Soup had a net margin of 13.41% and a return on equity of 54.10%. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period last year, the company posted $0.91 EPS. The firm’s quarterly revenue was up .4% compared to the same quarter last year. sell-side analysts anticipate that Campbell Soup will post 3.1 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Wednesday, April 11th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.31%. Campbell Soup’s dividend payout ratio (DPR) is presently 40.23%.
Campbell Soup declared that its Board of Directors has initiated a share repurchase plan on Monday, December 18th that allows the company to repurchase shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.
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Campbell Soup Profile
Campbell Soup Company, together with its subsidiaries, manufactures and markets food and beverage products. It operates through three segments: Americas Simple Meals and Beverages; Global Biscuits and Snacks; and Campbell Fresh. The Americas Simple Meals and Beverages segment engages in the retail and food service of Campbell's condensed and ready-to-serve soups; Swanson broth and stocks; Prego pasta sauces; Pace Mexican sauces; Campbell's gravies, pastas, beans, and dinner sauces; Swanson canned poultry; Plum food and snacks; V8 juices and beverages; and Campbell's tomato juices.
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