MML Investors Services LLC Raises Position in Campbell Soup Company (CPB)
MML Investors Services LLC increased its stake in Campbell Soup Company (NYSE:CPB) by 1.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,517 shares of the company’s stock after purchasing an additional 112 shares during the quarter. MML Investors Services LLC’s holdings in Campbell Soup were worth $340,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. KCG Holdings Inc. boosted its holdings in Campbell Soup by 167.8% in the first quarter. KCG Holdings Inc. now owns 16,291 shares of the company’s stock worth $932,000 after purchasing an additional 10,208 shares during the last quarter. Investment Centers of America Inc. boosted its holdings in Campbell Soup by 20.7% in the first quarter. Investment Centers of America Inc. now owns 5,155 shares of the company’s stock worth $295,000 after purchasing an additional 883 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Campbell Soup by 196.8% in the first quarter. Tower Research Capital LLC TRC now owns 15,047 shares of the company’s stock worth $861,000 after purchasing an additional 9,978 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Campbell Soup by 6.5% in the second quarter. Robeco Institutional Asset Management B.V. now owns 133,937 shares of the company’s stock worth $6,984,000 after purchasing an additional 8,119 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in Campbell Soup by 38.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 850,980 shares of the company’s stock worth $44,379,000 after purchasing an additional 236,417 shares during the last quarter. Institutional investors own 44.29% of the company’s stock.
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CPB has been the topic of several research reports. BidaskClub cut shares of Campbell Soup from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. J P Morgan Chase & Co restated a “neutral” rating and issued a $55.00 target price (down previously from $60.00) on shares of Campbell Soup in a report on Wednesday, June 28th. Credit Suisse Group set a $50.00 target price on shares of Campbell Soup and gave the stock a “sell” rating in a report on Friday, July 7th. Morgan Stanley dropped their target price on shares of Campbell Soup from $55.00 to $52.00 and set an “underweight” rating on the stock in a report on Tuesday, July 18th. Finally, Royal Bank Of Canada set a $60.00 target price on shares of Campbell Soup and gave the stock a “hold” rating in a report on Tuesday, July 18th. Seven 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 stock has an average rating of “Hold” and an average target price of $52.33.
Campbell Soup Company (CPB) opened at 46.82 on Friday. The stock’s 50 day moving average is $50.88 and its 200 day moving average is $54.73. Campbell Soup Company has a 52 week low of $44.99 and a 52 week high of $64.23. The stock has a market cap of $14.19 billion, a PE ratio of 16.20 and a beta of 0.36.
Campbell Soup (NYSE:CPB) last released 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 business 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%. The firm’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.46 EPS. Analysts predict that Campbell Soup Company will post $3.05 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 30th. Stockholders 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 dividend yield of 2.99%. Campbell Soup’s payout ratio is currently 48.44%.
In other Campbell Soup news, insider Luca Mignini acquired 4,300 shares of the business’s 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 purchase, the insider now directly owns 88,178 shares of the company’s stock, valued at $4,097,631.66. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 37.30% of the stock is owned by corporate insiders.
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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