Clinton Group Inc. Cuts Stake in Campbell Soup Company (CPB)
Clinton Group Inc. reduced its position in Campbell Soup Company (NYSE:CPB) by 48.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,156 shares of the company’s stock after selling 37,979 shares during the period. Clinton Group Inc.’s holdings in Campbell Soup were worth $2,094,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CPB. BlackRock Inc. grew its holdings in shares of Campbell Soup by 2,522.6% during the 1st quarter. BlackRock Inc. now owns 14,676,936 shares of the company’s stock worth $840,105,000 after purchasing an additional 14,117,312 shares during the period. Renaissance Technologies LLC increased its position in Campbell Soup by 585.4% during the 2nd quarter. Renaissance Technologies LLC now owns 2,494,700 shares of the company’s stock worth $130,099,000 after purchasing an additional 2,130,700 shares in the last quarter. Schroder Investment Management Group increased its position in Campbell Soup by 97.2% during the 1st quarter. Schroder Investment Management Group now owns 2,917,189 shares of the company’s stock worth $166,601,000 after purchasing an additional 1,438,025 shares in the last quarter. Alliancebernstein L.P. increased its position in Campbell Soup by 33.3% during the 1st quarter. Alliancebernstein L.P. now owns 3,333,547 shares of the company’s stock worth $190,812,000 after purchasing an additional 833,687 shares in the last quarter. Finally, LSV Asset Management acquired a new stake in Campbell Soup during the 2nd quarter worth approximately $35,597,000. 44.29% of the stock is currently owned by institutional investors and hedge funds.
Shares of Campbell Soup Company (NYSE CPB) traded up 0.30% during trading on Monday, reaching $46.96. 369,274 shares of the company’s stock were exchanged. Campbell Soup Company has a 52-week low of $44.99 and a 52-week high of $64.23. The company has a 50 day moving average of $50.88 and a 200 day moving average of $54.73. The firm has a market capitalization of $14.11 billion, a P/E ratio of 16.25 and a beta of 0.36.
Campbell Soup (NYSE:CPB) last issued its quarterly earnings data on Thursday, August 31st. The company reported $0.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.03). The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.69 billion. Campbell Soup had a return on equity of 59.84% and a net margin of 11.24%. Campbell Soup’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.46 earnings per share. Equities analysts anticipate that Campbell Soup Company will post $3.05 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 30th. Investors of record on Friday, October 13th will be paid a $0.35 dividend. The ex-dividend date is Thursday, October 12th. This represents a $1.40 dividend on an annualized basis and a yield of 2.99%. Campbell Soup’s payout ratio is presently 48.44%.
A number of research analysts have weighed in on CPB shares. Credit Suisse Group reaffirmed a “sell” rating and set a $43.00 price target (down from $47.00) on shares of Campbell Soup in a research report on Friday, September 1st. Barclays PLC reissued a “sell” rating on shares of Campbell Soup in a research report on Tuesday, July 25th. Royal Bank Of Canada set a $60.00 price objective on shares of Campbell Soup and gave the stock a “hold” rating in a research report on Tuesday, July 18th. Zacks Investment Research raised shares of Campbell Soup from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. Finally, J P Morgan Chase & Co reissued a “neutral” rating and issued a $55.00 target price (down previously from $60.00) on shares of Campbell Soup in a research note on Wednesday, June 28th. Seven equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $52.33.
TRADEMARK VIOLATION NOTICE: This article was first reported by Watch List News and is the property of of Watch List News. If you are reading this article on another domain, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The correct version of this article can be read at https://www.watchlistnews.com/clinton-group-inc-cuts-stake-in-campbell-soup-company-cpb/1603255.html.
In other news, insider Luca Mignini bought 4,300 shares of the business’s stock in a transaction on Wednesday, September 27th. The stock was purchased at an average price of $46.47 per share, with a total value of $199,821.00. Following the transaction, the insider now directly owns 88,178 shares in the company, valued at $4,097,631.66. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 37.30% of the company’s stock.
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.
Receive News & Ratings for Campbell Soup Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Campbell Soup Company and related companies with Analyst Ratings Network's FREE daily email newsletter.