Magnetar Financial LLC Sells 93,792 Shares of Campbell Soup Company (CPB)
Magnetar Financial LLC trimmed its holdings in shares of Campbell Soup Company (NYSE:CPB) by 86.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,384 shares of the company’s stock after selling 93,792 shares during the period. Magnetar Financial LLC’s holdings in Campbell Soup were worth $673,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of CPB. Motco boosted its position in Campbell Soup by 301.9% during the second quarter. Motco now owns 2,130 shares of the company’s stock worth $111,000 after acquiring an additional 1,600 shares during the last quarter. First Personal Financial Services boosted its position in Campbell Soup by 180.9% during the third quarter. First Personal Financial Services now owns 2,677 shares of the company’s stock worth $125,000 after acquiring an additional 1,724 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in Campbell Soup during the third quarter worth approximately $175,000. Victory Capital Management Inc. boosted its position 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 acquiring an additional 213 shares during the last quarter. Finally, First Allied Advisory Services Inc. boosted its position in Campbell Soup by 6.3% during the second quarter. First Allied Advisory Services Inc. now owns 3,847 shares of the company’s stock worth $201,000 after acquiring an additional 227 shares during the last quarter. 46.33% of the stock is owned by institutional investors and hedge funds.
Campbell Soup Company (CPB) opened at $48.55 on Tuesday. The firm has a market cap of $14,714.71, a price-to-earnings ratio of 16.65, a price-to-earnings-growth ratio of 3.72 and a beta of 0.40. Campbell Soup Company has a 1-year low of $44.99 and a 1-year high of $64.23. The company has a quick ratio of 0.42, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.
Campbell Soup (NYSE:CPB) last announced its quarterly earnings results on Tuesday, November 21st. The company reported $0.92 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.97 by ($0.05). The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.17 billion. Campbell Soup had a net margin of 11.08% and a return on equity of 56.88%. The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.00 EPS. equities research analysts expect that Campbell Soup Company will post 2.96 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 29th. Investors of record on Wednesday, January 10th will be issued a dividend of $0.35 per share. The ex-dividend date is Tuesday, January 9th. This represents a $1.40 annualized dividend and a dividend yield of 2.88%. Campbell Soup’s payout ratio is 48.95%.
CPB has been the topic of a number of analyst reports. Royal Bank of Canada set a $56.00 target price on shares of Campbell Soup and gave the stock a “hold” rating in a research report on Wednesday, October 25th. Goldman Sachs Group decreased their target price on shares of Campbell Soup from $49.00 to $45.00 and set a “hold” rating on the stock in a research report on Sunday, September 3rd. UBS 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 report on Thursday, November 9th. Credit Suisse Group set a $41.00 price target on shares of Campbell Soup and gave the company a “sell” rating in a report on Friday, November 24th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $47.00 price target (down previously from $52.00) on shares of Campbell Soup in a report on Friday, September 1st. Seven investment 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.
In other Campbell Soup news, insider Luca Mignini bought 4,300 shares of Campbell Soup stock in a transaction that occurred on Wednesday, September 27th. The shares were acquired at an average price of $46.47 per share, for a total transaction of $199,821.00. Following the acquisition, the insider now owns 88,178 shares of the company’s stock, valued at approximately $4,097,631.66. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Charles R. Perrin sold 2,304 shares of Campbell Soup stock in a transaction 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. Insiders own 37.20% of the company’s stock.
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Campbell Soup 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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