Voloridge Investment Management LLC cut its position in shares of Campbell Soup (NYSE:CPB) by 38.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 72,100 shares of the company’s stock after selling 44,731 shares during the period. Voloridge Investment Management LLC’s holdings in Campbell Soup were worth $3,383,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CPB. Amussen Hunsaker Associates LLC acquired a new stake in Campbell Soup during the third quarter worth $225,000. Public Employees Retirement System of Ohio raised its stake in shares of Campbell Soup by 2.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 58,304 shares of the company’s stock valued at $2,736,000 after buying an additional 1,349 shares in the last quarter. Sunbelt Securities Inc. bought a new position in shares of Campbell Soup during the 3rd quarter worth about $309,000. Parametric Portfolio Associates LLC lifted its holdings in shares of Campbell Soup by 11.9% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 559,239 shares of the company’s stock worth $26,239,000 after acquiring an additional 59,518 shares during the period. Finally, California State Teachers Retirement System boosted its position in shares of Campbell Soup by 1.0% during the 3rd quarter. California State Teachers Retirement System now owns 278,556 shares of the company’s stock valued at $13,070,000 after acquiring an additional 2,700 shares in the last quarter. Institutional investors and hedge funds own 50.88% of the company’s stock.
A number of analysts recently weighed in on CPB shares. Royal Bank of Canada initiated coverage on shares of Campbell Soup in a research note on Thursday, October 17th. They issued an “outperform” rating and a $55.00 target price on the stock. Piper Jaffray Companies upgraded shares of Campbell Soup from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $40.00 to $45.00 in a research note on Tuesday, September 3rd. Wells Fargo & Co reaffirmed a “hold” rating and set a $45.00 price objective on shares of Campbell Soup in a report on Friday, August 30th. Citigroup lifted their price objective on Campbell Soup from $48.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Finally, ValuEngine lowered Campbell Soup from a “hold” rating to a “sell” rating in a research note on Tuesday, November 26th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $43.82.
Campbell Soup (NYSE:CPB) last posted its earnings results on Friday, August 30th. The company reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.08. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.98 billion. Campbell Soup had a net margin of 2.25% and a return on equity of 62.59%. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.25 EPS. Analysts predict that Campbell Soup will post 2.52 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Wednesday, January 8th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.97%. The ex-dividend date is Tuesday, January 7th. Campbell Soup’s dividend payout ratio is currently 60.87%.
In other Campbell Soup news, SVP Adam G. Ciongoli sold 16,096 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $47.16, for a total value of $759,087.36. Following the transaction, the senior vice president now directly owns 70,984 shares in the company, valued at $3,347,605.44. The transaction was disclosed in a document filed with the SEC, which is available through this link. 36.48% of the stock is owned by insiders.
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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