Investors Buy Campbell Soup (CPB) on Weakness
Traders purchased shares of Campbell Soup Company (NYSE:CPB) on weakness during trading on Wednesday. $49.90 million flowed into the stock on the tick-up and $17.39 million flowed out of the stock on the tick-down, for a money net flow of $32.51 million into the stock. Of all companies tracked, Campbell Soup had the 12th highest net in-flow for the day. Campbell Soup traded down ($0.57) for the day and closed at $49.19
A number of research analysts recently weighed in on CPB shares. Royal Bank of Canada set a $56.00 price objective on Campbell Soup and gave the company a “hold” rating in a research note on Wednesday, October 25th. Goldman Sachs Group cut their price objective on 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 cut their price objective on Campbell Soup from $46.00 to $42.00 and set a “sell” rating on the stock in a research note on Thursday, November 9th. Credit Suisse Group set a $41.00 price objective on Campbell Soup and gave the company a “sell” rating in a research note on Friday, November 24th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $47.00 price objective (down from $52.00) on shares of Campbell Soup in a research note on Friday, September 1st. Seven analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The stock currently has an average rating of “Hold” and an average price target of $49.91.
The company has a quick ratio of 0.42, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The stock has a market cap of $14,594.47, a PE ratio of 16.51, a P/E/G ratio of 3.69 and a beta of 0.40.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 29th. Shareholders of record on Wednesday, January 10th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.85%. The ex-dividend date is Tuesday, January 9th. Campbell Soup’s dividend payout ratio is currently 48.95%.
In other news, Director Charles R. Perrin sold 2,304 shares of the business’s stock in a transaction that occurred on Friday, October 6th. The stock was sold at an average price of $46.46, for a total transaction of $107,043.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Luca Mignini acquired 4,300 shares of the stock in a transaction dated 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 transaction, the insider now owns 88,178 shares of the company’s stock, valued at approximately $4,097,631.66. The disclosure for this purchase can be found here. Insiders own 37.20% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CPB. Daiwa Securities Group Inc. increased its position in shares of Campbell Soup by 9.3% during the second quarter. Daiwa Securities Group Inc. now owns 5,900 shares of the company’s stock valued at $308,000 after purchasing an additional 500 shares during the period. Canada Pension Plan Investment Board boosted its stake in Campbell Soup by 7.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 359,610 shares of the company’s stock valued at $18,754,000 after buying an additional 25,300 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Campbell Soup by 38.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 850,980 shares of the company’s stock valued at $44,379,000 after buying an additional 236,417 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Campbell Soup by 8.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 44,231 shares of the company’s stock valued at $2,335,000 after buying an additional 3,493 shares in the last quarter. Finally, Dupont Capital Management Corp boosted its stake in Campbell Soup by 43.3% in the 2nd quarter. Dupont Capital Management Corp now owns 74,552 shares of the company’s stock valued at $3,888,000 after buying an additional 22,514 shares in the last quarter. Institutional investors and hedge funds own 46.33% 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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