Cambridge Investment Research Advisors Inc. cut its stake in shares of Campbell Soup Company (NYSE:CPB) by 29.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,050 shares of the company’s stock after selling 4,618 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Campbell Soup were worth $517,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of CPB. Motco increased its position in Campbell Soup by 301.9% during the 2nd quarter. Motco now owns 2,130 shares of the company’s stock worth $111,000 after purchasing an additional 1,600 shares in the last quarter. First Personal Financial Services boosted its stake in shares of Campbell Soup by 180.9% during the 3rd quarter. First Personal Financial Services now owns 2,677 shares of the company’s stock valued at $125,000 after buying an additional 1,724 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Campbell Soup during the 3rd quarter valued at approximately $175,000. Mercer Capital Advisers Inc. boosted its stake in shares of Campbell Soup by 13.6% during the 2nd quarter. Mercer Capital Advisers Inc. now owns 3,374 shares of the company’s stock valued at $176,000 after buying an additional 405 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Campbell Soup by 6.1% during the second quarter. Victory Capital Management Inc. now owns 3,733 shares of the company’s stock worth $195,000 after purchasing an additional 213 shares during the last quarter. 46.33% of the stock is owned by institutional investors and hedge funds.
In related news, Director Charles R. Perrin sold 2,304 shares of the firm’s stock in a transaction on Friday, October 6th. The stock was sold at an average price of $46.46, for a total transaction of $107,043.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Luca Mignini bought 4,300 shares of the stock in a transaction that occurred on Wednesday, September 27th. The shares were bought at an average cost of $46.47 per share, with a total value of $199,821.00. Following the completion of the transaction, the insider now owns 88,178 shares in the company, valued at $4,097,631.66. The disclosure for this purchase can be found here. Company insiders own 37.20% of the company’s stock.
Campbell Soup (NYSE:CPB) last released its quarterly earnings data on Tuesday, November 21st. The company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.05). The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.17 billion. Campbell Soup had a net margin of 11.08% and a return on equity of 56.88%. Campbell Soup’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.00 EPS. sell-side analysts forecast that Campbell Soup Company will post 2.96 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 29th. Shareholders of record on Wednesday, January 10th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date is Tuesday, January 9th. Campbell Soup’s dividend payout ratio is presently 48.95%.
CPB has been the topic of several analyst reports. Zacks Investment Research raised Campbell Soup from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th. Royal Bank Of Canada cut their price target on Campbell Soup from $60.00 to $56.00 and set a “sector perform” rating for the company in a research note on Friday, September 1st. Credit Suisse Group reissued a “sell” rating and issued a $43.00 price objective (down from $47.00) on shares of Campbell Soup in a research note on Friday, September 1st. Deutsche Bank reissued a “hold” rating and issued a $51.00 price objective (down from $58.00) on shares of Campbell Soup in a research note on Friday, September 1st. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $47.00 price target (down from $52.00) on shares of Campbell Soup in a research report on Friday, September 1st. Seven analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $49.91.
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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