Gamco Investors INC. ET AL cut its stake in Campbell Soup (NYSE:CPB) by 9.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 425,739 shares of the company’s stock after selling 44,200 shares during the period. Gamco Investors INC. ET AL owned 0.14% of Campbell Soup worth $20,482,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Bessemer Group Inc. boosted its stake in Campbell Soup by 80,239.5% during the third quarter. Bessemer Group Inc. now owns 3,445,763 shares of the company’s stock valued at $161,331,000 after buying an additional 3,441,474 shares in the last quarter. Beutel Goodman & Co Ltd. bought a new position in Campbell Soup during the fourth quarter valued at about $103,733,000. LSV Asset Management boosted its stake in Campbell Soup by 215.7% during the fourth quarter. LSV Asset Management now owns 3,095,193 shares of the company’s stock valued at $148,909,000 after buying an additional 2,114,693 shares in the last quarter. APG Asset Management N.V. boosted its position in shares of Campbell Soup by 50.7% in the 3rd quarter. APG Asset Management N.V. now owns 3,545,569 shares of the company’s stock valued at $166,004,000 after purchasing an additional 1,192,900 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Campbell Soup by 16.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,493,192 shares of the company’s stock valued at $304,011,000 after purchasing an additional 897,314 shares during the period. 47.79% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Edward Carolan sold 6,500 shares of the company’s stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $48.15, for a total value of $312,975.00. Following the completion of the sale, the insider now owns 41,506 shares in the company, valued at $1,998,513.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Randall W. Larrimore sold 2,242 shares of the business’s stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $48.69, for a total value of $109,162.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,284 shares of company stock valued at $741,399. 37.20% of the stock is currently owned by corporate insiders.
Campbell Soup (NYSE:CPB) last announced its quarterly 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). Campbell Soup had a net margin of 11.08% and a return on equity of 56.88%. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.17 billion. During the same period in the prior year, the firm earned $1.00 EPS. Campbell Soup’s quarterly revenue was down 1.9% compared to the same quarter last year. research analysts anticipate that Campbell Soup will post 2.95 EPS for the current year.
Campbell Soup declared that its board has initiated a share repurchase plan on Monday, December 18th that allows the company to repurchase shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
A number of equities analysts recently weighed in on the company. Wolfe Research began coverage on Campbell Soup in a research report on Friday, January 26th. They issued a “market perform” rating for the company. Zacks Investment Research raised Campbell Soup from a “sell” rating to a “hold” rating in a research note on Tuesday, January 23rd. Citigroup raised Campbell Soup from a “neutral” rating to a “buy” rating and raised their price target for the stock from $45.51 to $57.00 in a research note on Tuesday, January 16th. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $50.00 price target on shares of Campbell Soup in a research note on Friday, December 15th. Finally, Piper Jaffray Companies set a $49.00 price target on Campbell Soup and gave the stock a “hold” rating in a research note on Tuesday, November 28th. Six investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. Campbell Soup currently has a consensus rating of “Hold” and a consensus target price of $50.08.
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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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