North Star Investment Management Corp. Decreases Holdings in Campbell Soup Company (CPB)
North Star Investment Management Corp. lowered its stake in shares of Campbell Soup Company (NYSE:CPB) by 10.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,564 shares of the company’s stock after selling 2,861 shares during the period. North Star Investment Management Corp.’s holdings in Campbell Soup were worth $1,134,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the business. AXA boosted its stake in shares of Campbell Soup by 2,043.4% during the 3rd quarter. AXA now owns 620,342 shares of the company’s stock valued at $29,044,000 after buying an additional 591,400 shares during the period. Robinson Value Management Ltd. lifted its stake in shares of Campbell Soup by 8.0% in the 3rd quarter. Robinson Value Management Ltd. now owns 22,073 shares of the company’s stock valued at $1,033,000 after purchasing an additional 1,630 shares during the last quarter. Americafirst Capital Management LLC acquired a new stake in shares of Campbell Soup in the 3rd quarter valued at $618,000. IFM Investors Pty Ltd acquired a new stake in shares of Campbell Soup in the 3rd quarter valued at $290,000. Finally, California Public Employees Retirement System lifted its stake in shares of Campbell Soup by 6.1% in the 3rd quarter. California Public Employees Retirement System now owns 418,433 shares of the company’s stock valued at $19,591,000 after purchasing an additional 23,933 shares during the last quarter. 46.04% of the stock is owned by institutional investors.
Several equities research analysts recently issued reports on CPB shares. Royal Bank of Canada reaffirmed a “hold” rating and issued a $53.00 price objective (down previously from $55.00) on shares of Campbell Soup in a research note on Wednesday, November 22nd. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $50.00 price objective on shares of Campbell Soup in a research note on Friday, December 15th. Piper Jaffray Companies set a $49.00 price objective on shares of Campbell Soup and gave the company a “hold” rating in a research note on Tuesday, November 28th. Citigroup reaffirmed a “neutral” rating and issued a $54.00 price objective (up previously from $50.00) on shares of Campbell Soup in a research note on Wednesday, December 20th. Finally, Credit Suisse Group set a $41.00 price objective on shares of Campbell Soup and gave the company a “sell” rating in a research note on Friday, November 24th. Seven investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $49.83.
Campbell Soup (NYSE:CPB) last released its 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 firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.17 billion. Campbell Soup had a return on equity of 56.88% and a net margin of 11.08%. The firm’s revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.00 EPS. equities analysts expect that Campbell Soup Company will post 2.95 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 29th. Shareholders of record on Wednesday, January 10th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date is Tuesday, January 9th. Campbell Soup’s dividend payout ratio is 48.95%.
Campbell Soup declared that its board has authorized a share buyback program on Monday, December 18th that permits the company to buyback shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
In other Campbell Soup news, SVP Carlos Barroso sold 4,300 shares of the business’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $48.86, for a total transaction of $210,098.00. Following the completion of the transaction, the senior vice president now owns 29,119 shares of the company’s stock, valued at approximately $1,422,754.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Edward Carolan sold 6,500 shares of the business’s stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $48.15, for a total transaction of $312,975.00. Following the transaction, the insider now directly owns 41,506 shares of the company’s stock, valued at approximately $1,998,513.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,284 shares of company stock valued at $741,399. Company insiders own 37.20% 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.
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