Sciencast Management LP bought a new position in Campbell Soup (NYSE:CPB) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 10,503 shares of the company’s stock, valued at approximately $500,000.
A number of other hedge funds and other institutional investors have also modified their holdings of CPB. Cordasco Financial Network bought a new stake in Campbell Soup in the fourth quarter valued at $144,000. Whittier Trust Co. of Nevada Inc. boosted its stake in Campbell Soup by 199.8% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 2,998 shares of the company’s stock worth $144,000 after purchasing an additional 1,998 shares in the last quarter. First Personal Financial Services boosted its stake in Campbell Soup by 44.0% in the fourth quarter. First Personal Financial Services now owns 3,856 shares of the company’s stock worth $186,000 after purchasing an additional 1,179 shares in the last quarter. Confluence Wealth Management LLC acquired a new position in Campbell Soup in the fourth quarter worth $207,000. Finally, Cypress Wealth Services LLC acquired a new position in shares of Campbell Soup during the fourth quarter valued at $208,000. 50.19% of the stock is currently owned by institutional investors.
CPB has been the topic of several research reports. Citigroup raised Campbell Soup from a “neutral” rating to a “buy” rating and upped their price target for the company from $45.51 to $57.00 in a research note on Tuesday, January 16th. JPMorgan Chase reissued a “hold” rating and issued a $50.00 target price on shares of Campbell Soup in a research note on Friday, December 15th. Piper Jaffray downgraded Campbell Soup from a “neutral” rating to an “underweight” rating and set a $59.00 price target for the company. in a report on Wednesday, February 28th. Morgan Stanley lowered their price target on Campbell Soup from $49.00 to $46.00 and set an “underweight” rating for the company in a report on Tuesday, February 20th. Finally, Wolfe Research started coverage on Campbell Soup in a report on Friday, January 26th. They set a “market perform” rating for the company. Six investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $49.90.
In other news, insider Luca Mignini acquired 4,400 shares of Campbell Soup stock in a transaction that occurred on Wednesday, February 21st. The shares were acquired at an average price of $45.53 per share, for a total transaction of $200,332.00. Following the transaction, the insider now directly owns 87,814 shares of the company’s stock, valued at approximately $3,998,171.42. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 37.20% of the company’s stock.
NYSE:CPB traded up $0.25 during mid-day trading on Friday, hitting $43.73. 3,012,213 shares of the stock were exchanged, compared to its average volume of 2,741,002. Campbell Soup has a fifty-two week low of $40.99 and a fifty-two week high of $59.14. The company has a current ratio of 0.64, a quick ratio of 0.35 and a debt-to-equity ratio of 1.15. The stock has a market cap of $13,070.39, a P/E ratio of 14.38, a PEG ratio of 2.48 and a beta of 0.32.
Campbell Soup (NYSE:CPB) last posted its quarterly earnings data on Friday, February 16th. The company reported $1.00 EPS for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.19. Campbell Soup had a return on equity of 54.10% and a net margin of 13.41%. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the company earned $0.91 EPS. The company’s revenue was up .4% on a year-over-year basis. sell-side analysts forecast that Campbell Soup will post 3.1 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Wednesday, April 11th will be paid a $0.35 dividend. The ex-dividend date is Tuesday, April 10th. This represents a $1.40 annualized dividend and a dividend yield of 3.20%. Campbell Soup’s payout ratio is 46.05%.
Campbell Soup declared that its Board of Directors has approved a stock buyback program on Monday, December 18th that authorizes the company to buyback outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management 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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