Campbell Soup Company (CPB) Stake Boosted by Retirement Systems of Alabama
Retirement Systems of Alabama lifted its stake in shares of Campbell Soup Company (NYSE:CPB) by 1.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 94,101 shares of the company’s stock after purchasing an additional 1,125 shares during the quarter. Retirement Systems of Alabama’s holdings in Campbell Soup were worth $4,406,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Campbell Soup by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 13,103,256 shares of the company’s stock valued at $683,334,000 after acquiring an additional 160,180 shares during the last quarter. State Street Corp grew its stake in Campbell Soup by 0.9% in the 2nd quarter. State Street Corp now owns 8,750,268 shares of the company’s stock valued at $456,326,000 after acquiring an additional 82,280 shares during the last quarter. APG Asset Management N.V. grew its stake in 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 acquiring an additional 1,192,900 shares during the last quarter. Bessemer Group Inc. grew its stake in Campbell Soup by 80,239.5% in the 3rd quarter. Bessemer Group Inc. now owns 3,445,763 shares of the company’s stock valued at $161,331,000 after acquiring an additional 3,441,474 shares during the last quarter. Finally, Schroder Investment Management Group grew its stake in Campbell Soup by 6.2% in the 2nd quarter. Schroder Investment Management Group now owns 3,097,618 shares of the company’s stock valued at $161,045,000 after acquiring an additional 180,429 shares during the last quarter. 47.08% of the stock is currently owned by institutional investors and hedge funds.
CPB has been the topic of a number of research reports. Royal Bank Of Canada set a $56.00 price objective on shares of Campbell Soup and gave the company a “hold” rating in a research note on Wednesday, October 25th. Goldman Sachs Group, Inc. (The) decreased their price target on shares of Campbell Soup from $49.00 to $45.00 and set a “hold” rating on the stock in a research note on Sunday, September 3rd. UBS AG decreased their price target on shares of Campbell Soup from $46.00 to $42.00 and set a “sell” rating on the stock in a research note on Thursday, November 9th. Morgan Stanley reaffirmed an “underweight” rating and set a $47.00 price target (down from $52.00) on shares of Campbell Soup in a research note on Friday, September 1st. Finally, Zacks Investment Research raised shares of Campbell Soup from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. Seven research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $50.45.
Campbell Soup Company (NYSE CPB) opened at $45.84 on Wednesday. The firm has a market cap of $15,005.39, a PE ratio of 16.53, a PEG ratio of 3.66 and a beta of 0.38. Campbell Soup Company has a 1-year low of $44.99 and a 1-year high of $64.23. The company has a current ratio of 0.79, a quick ratio of 0.42 and a debt-to-equity ratio of 1.52.
Campbell Soup (NYSE:CPB) last posted 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 11.24% and a return on equity of 59.84%. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.17 billion. During the same quarter in the previous year, the business posted $1.00 EPS. The company’s quarterly revenue was down 1.9% on a year-over-year basis. research analysts anticipate that Campbell Soup Company will post 3.07 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 29th. Investors of record on Wednesday, January 10th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $1.40 annualized dividend and a yield of 3.05%. Campbell Soup’s payout ratio is 48.44%.
In other Campbell Soup news, insider Luca Mignini purchased 4,300 shares of the business’s stock in a transaction that occurred on Wednesday, September 27th. The shares were purchased at an average price of $46.47 per share, for a total transaction of $199,821.00. Following the completion of the acquisition, the insider now owns 88,178 shares of the company’s stock, valued at approximately $4,097,631.66. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles R. Perrin sold 2,304 shares of the firm’s stock in a transaction that occurred on Friday, October 6th. The shares were sold at an average price of $46.46, for a total transaction of $107,043.84. The disclosure for this sale can be found here. Company insiders own 37.20% of the company’s stock.
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About Campbell Soup
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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