Vanguard Group Inc. Grows Holdings in Campbell Soup Company (CPB)
Vanguard Group Inc. boosted its holdings in shares of Campbell Soup Company (NYSE:CPB) by 1.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,103,256 shares of the company’s stock after buying an additional 160,180 shares during the period. Vanguard Group Inc. owned approximately 4.32% of Campbell Soup worth $683,334,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Pinebridge Investments L.P. raised its holdings in Campbell Soup by 1,055.1% during the second quarter. Pinebridge Investments L.P. now owns 88,629 shares of the company’s stock worth $4,622,000 after buying an additional 80,956 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Campbell Soup in the 2nd quarter worth $744,000. Lazard Asset Management LLC grew its stake in shares of Campbell Soup by 117.3% in the 2nd quarter. Lazard Asset Management LLC now owns 437,900 shares of the company’s stock worth $22,835,000 after acquiring an additional 236,427 shares in the last quarter. Acrospire Investment Management LLC grew its stake in shares of Campbell Soup by 242.2% in the 2nd quarter. Acrospire Investment Management LLC now owns 4,945 shares of the company’s stock worth $258,000 after acquiring an additional 3,500 shares in the last quarter. Finally, Thrivent Financial For Lutherans grew its stake in shares of Campbell Soup by 7.1% in the 2nd quarter. Thrivent Financial For Lutherans now owns 8,205 shares of the company’s stock worth $428,000 after acquiring an additional 545 shares in the last quarter. Hedge funds and other institutional investors own 44.29% of the company’s stock.
Several analysts have recently issued reports on CPB shares. BidaskClub lowered shares of Campbell Soup from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 24th. J P Morgan Chase & Co reiterated 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. Credit Suisse Group set a $50.00 target price on shares of Campbell Soup and gave the stock a “sell” rating in a research note on Friday, July 7th. Morgan Stanley reduced their target price on shares of Campbell Soup from $55.00 to $52.00 and set an “underweight” rating for the company in a research note 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 research note on Tuesday, July 18th. Seven research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $52.33.
Campbell Soup Company (CPB) opened at 46.82 on Friday. Campbell Soup Company has a 52-week low of $44.99 and a 52-week high of $64.23. The company has a market cap of $14.19 billion, a price-to-earnings ratio of 16.20 and a beta of 0.36. The company’s 50-day moving average is $50.88 and its 200 day moving average is $54.73.
Campbell Soup (NYSE:CPB) last issued its earnings results 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). Campbell Soup had a return on equity of 59.84% and a net margin of 11.24%. The business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same period last year, the firm posted $0.46 EPS. Campbell Soup’s quarterly revenue was down 1.4% compared to the same quarter last year. Equities analysts forecast that Campbell Soup Company will post $3.05 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 30th. Shareholders of record on Friday, October 13th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Thursday, October 12th. Campbell Soup’s dividend payout ratio (DPR) is 48.44%.
In other Campbell Soup news, insider Luca Mignini bought 4,300 shares of the firm’s stock in a transaction on Wednesday, September 27th. The stock was acquired at an average price of $46.47 per share, with a total value of $199,821.00. Following the transaction, the insider now owns 88,178 shares in the company, valued at $4,097,631.66. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 37.30% of the stock is currently owned by insiders.
About Campbell Soup
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.
Want to see what other hedge funds are holding CPB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Campbell Soup Company (NYSE:CPB).
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.