WEALTHFRONT Corp boosted its stake in shares of Campbell Soup (NYSE:CPB) by 12.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,878 shares of the company’s stock after acquiring an additional 3,644 shares during the quarter. WEALTHFRONT Corp’s holdings in Campbell Soup were worth $1,241,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Tower Research Capital LLC TRC lifted its holdings in Campbell Soup by 182.3% during the third quarter. Tower Research Capital LLC TRC now owns 9,787 shares of the company’s stock worth $359,000 after buying an additional 6,320 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Campbell Soup by 96.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,087 shares of the company’s stock valued at $1,363,000 after purchasing an additional 18,246 shares during the last quarter. Eaton Vance Management lifted its holdings in shares of Campbell Soup by 17.2% during the 3rd quarter. Eaton Vance Management now owns 1,178,659 shares of the company’s stock valued at $43,174,000 after purchasing an additional 172,716 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Campbell Soup by 15.0% during the 3rd quarter. Hsbc Holdings PLC now owns 337,917 shares of the company’s stock valued at $12,378,000 after purchasing an additional 43,968 shares during the last quarter. Finally, Aviva PLC lifted its holdings in shares of Campbell Soup by 5.5% during the 3rd quarter. Aviva PLC now owns 115,312 shares of the company’s stock valued at $4,224,000 after purchasing an additional 6,027 shares during the last quarter. 53.18% of the stock is currently owned by institutional investors.
CPB has been the topic of several research reports. Wells Fargo & Co set a $42.00 target price on Campbell Soup and gave the company a “hold” rating in a research report on Monday, August 20th. Deutsche Bank cut their target price on Campbell Soup from $40.00 to $36.00 and set a “hold” rating on the stock in a research report on Friday, August 31st. Zacks Investment Research raised Campbell Soup from a “sell” rating to a “hold” rating in a research report on Monday, August 27th. ValuEngine raised Campbell Soup from a “sell” rating to a “hold” rating in a research report on Wednesday, November 21st. Finally, Credit Suisse Group raised Campbell Soup to a “hold” rating and set a $36.00 target price on the stock in a research report on Tuesday, November 27th. Nine research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $40.33.
NYSE CPB opened at $37.73 on Friday. The company has a debt-to-equity ratio of 5.65, a quick ratio of 0.31 and a current ratio of 0.69. Campbell Soup has a 1 year low of $32.63 and a 1 year high of $50.66. The firm has a market capitalization of $11.60 billion, a P/E ratio of 13.19, a PEG ratio of 2.65 and a beta of 0.18.
Campbell Soup (NYSE:CPB) last announced its quarterly earnings results on Tuesday, November 20th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.10. The company had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.66 billion. Campbell Soup had a return on equity of 53.81% and a net margin of 1.95%. The firm’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same period last year, the firm earned $0.92 EPS. On average, analysts expect that Campbell Soup will post 2.47 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, January 28th. Shareholders of record on Wednesday, January 9th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend is Tuesday, January 8th. Campbell Soup’s dividend payout ratio is currently 48.78%.
In related news, insider Luca Mignini purchased 5,494 shares of the business’s stock in a transaction on Tuesday, October 2nd. The shares were bought 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 of the company’s stock, valued at $4,113,965.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 37.20% of the stock is currently owned by company insiders.
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Campbell Soup Profile
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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