Destination Wealth Management Acquires 29,302 Shares of Campbell Soup (CPB)

Destination Wealth Management raised its holdings in Campbell Soup (NYSE:CPB) by 67.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 72,878 shares of the company’s stock after buying an additional 29,302 shares during the period. Destination Wealth Management’s holdings in Campbell Soup were worth $3,506,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. American International Group Inc. increased its stake in Campbell Soup by 244.7% in the 4th quarter. American International Group Inc. now owns 324,499 shares of the company’s stock valued at $15,612,000 after buying an additional 230,354 shares during the last quarter. Wedbush Securities Inc. acquired a new stake in Campbell Soup in the 4th quarter valued at $247,000. Valeo Financial Advisors LLC increased its stake in Campbell Soup by 657.9% in the 4th quarter. Valeo Financial Advisors LLC now owns 6,548 shares of the company’s stock valued at $315,000 after buying an additional 5,684 shares during the last quarter. Wealthfront Inc. acquired a new stake in Campbell Soup in the 4th quarter valued at $514,000. Finally, Virtu Financial LLC increased its stake in Campbell Soup by 75.2% in the 4th quarter. Virtu Financial LLC now owns 11,013 shares of the company’s stock valued at $530,000 after buying an additional 4,727 shares during the last quarter. Hedge funds and other institutional investors own 49.17% of the company’s stock.

Several equities research analysts have issued reports on the stock. Wolfe Research assumed coverage on shares of Campbell Soup in a research note on Friday, January 26th. They issued a “market perform” rating on the stock. Zacks Investment Research upgraded shares of Campbell Soup from a “sell” rating to a “hold” rating in a research note on Tuesday, January 23rd. Citigroup upgraded shares of Campbell Soup from a “neutral” rating to a “buy” rating and lifted their price target for the company from $45.51 to $57.00 in a research note on Tuesday, January 16th. JPMorgan Chase & Co. reiterated a “hold” rating and issued 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 objective on shares of Campbell Soup and gave the company a “hold” rating in a research report on Tuesday, November 28th. Six analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. Campbell Soup has a consensus rating of “Hold” and an average price target of $50.08.

Campbell Soup (NYSE CPB) opened at $46.17 on Monday. Campbell Soup has a 12-month low of $43.50 and a 12-month high of $60.49. The company has a market cap of $13,879.02, a PE ratio of 13.27, a PEG ratio of 3.60 and a beta of 0.32. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.64 and a quick ratio of 0.39.

Campbell Soup (NYSE:CPB) last announced its quarterly earnings data on Friday, February 16th. The company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.19. Campbell Soup had a net margin of 13.41% and a return on equity of 54.10%. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter last year, the firm posted $0.91 EPS. The company’s quarterly revenue was up .4% on a year-over-year basis. sell-side analysts expect that Campbell Soup will post 2.97 earnings per share for the current year.

Campbell Soup announced that its Board of Directors has approved a stock repurchase program on Monday, December 18th that authorizes the company to buyback shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

In related news, SVP Carlos Barroso sold 4,300 shares of Campbell Soup stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $48.86, for a total transaction of $210,098.00. Following the completion of the sale, the senior vice president now owns 29,119 shares of the company’s stock, valued at approximately $1,422,754.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Randall W. Larrimore sold 2,242 shares of Campbell Soup stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $48.69, for a total transaction of $109,162.98. The disclosure for this sale can be found here. In the last three months, insiders sold 15,284 shares of company stock valued at $741,399. Insiders own 37.20% of the company’s stock.

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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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Institutional Ownership by Quarter for Campbell Soup (NYSE:CPB)

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