Cognios Capital LLC lessened its position in Campbell Soup (NYSE:CPB) by 37.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 44,956 shares of the company’s stock after selling 27,147 shares during the quarter. Cognios Capital LLC’s holdings in Campbell Soup were worth $1,646,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of CPB. BlackRock Inc. increased its holdings in Campbell Soup by 0.3% during the 2nd quarter. BlackRock Inc. now owns 14,584,732 shares of the company’s stock worth $591,265,000 after purchasing an additional 36,804 shares during the period. Morgan Stanley increased its holdings in Campbell Soup by 1,223.0% during the 2nd quarter. Morgan Stanley now owns 5,721,091 shares of the company’s stock worth $231,933,000 after purchasing an additional 5,288,651 shares during the period. Brandywine Managers LLC increased its holdings in Campbell Soup by 51.2% during the 2nd quarter. Brandywine Managers LLC now owns 5,609,014 shares of the company’s stock worth $227,389,000 after purchasing an additional 1,900,000 shares during the period. Third Point LLC purchased a new stake in Campbell Soup during the 2nd quarter worth about $224,997,000. Finally, Beutel Goodman & Co Ltd. increased its holdings in Campbell Soup by 20.3% during the 2nd quarter. Beutel Goodman & Co Ltd. now owns 2,843,202 shares of the company’s stock worth $87,692,000 after purchasing an additional 480,296 shares during the period. Hedge funds and other institutional investors own 54.86% of the company’s stock.
Several equities research analysts have weighed in on CPB shares. Zacks Investment Research downgraded Campbell Soup from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 5th. Piper Jaffray Companies set a $35.00 price target on Campbell Soup and gave the stock an “underweight” rating in a report on Friday, September 14th. Credit Suisse Group set a $32.00 price target on Campbell Soup and gave the stock a “sell” rating in a report on Friday, July 13th. Wells Fargo & Co restated a “hold” rating on shares of Campbell Soup in a report on Friday, October 5th. Finally, Deutsche Bank cut their price target on Campbell Soup from $40.00 to $36.00 and set a “hold” rating on the stock in a report on Friday, August 31st. Twelve equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. Campbell Soup presently has a consensus rating of “Sell” and an average price target of $39.87.
NYSE:CPB opened at $36.88 on Friday. The stock has a market cap of $11.25 billion, a PE ratio of 13.03, a price-to-earnings-growth ratio of 2.63 and a beta of 0.13. Campbell Soup has a 1 year low of $32.63 and a 1 year high of $51.07. The company has a quick ratio of 0.31, a current ratio of 0.64 and a debt-to-equity ratio of 5.83.
Campbell Soup (NYSE:CPB) last released its quarterly earnings data on Thursday, August 30th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.01. The business had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Campbell Soup had a return on equity of 53.88% and a net margin of 3.01%. The business’s quarterly revenue was up 33.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.52 EPS. As a group, research analysts forecast that Campbell Soup will post 2.41 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 29th. Stockholders of record on Friday, October 12th were given a dividend of $0.35 per share. The ex-dividend date was Thursday, October 11th. This represents a $1.40 annualized dividend and a dividend yield of 3.80%. Campbell Soup’s dividend payout ratio is currently 48.78%.
In other Campbell Soup news, insider Luca Mignini acquired 5,494 shares of the stock in a transaction dated Tuesday, October 2nd. The stock was acquired at an average cost of $36.41 per share, with a total value of $200,036.54. Following the transaction, the insider now owns 112,990 shares in the company, valued at approximately $4,113,965.90. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 37.20% of the company’s stock.
About Campbell Soup
Campbell Soup Company, together with its subsidiaries, manufactures and markets branded 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 products; Plum food and snack products; V8 juices and beverages; Campbell's tomato juices; and Pacific broth, soups, non-dairy beverages, and other simple meals.
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