Zurcher Kantonalbank Zurich Cantonalbank raised its position in Campbell Soup (NYSE:CPB) by 1.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,818 shares of the company’s stock after acquiring an additional 666 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Campbell Soup were worth $1,956,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CPB. Janney Montgomery Scott LLC grew its position in shares of Campbell Soup by 8.4% during the second quarter. Janney Montgomery Scott LLC now owns 24,334 shares of the company’s stock worth $975,000 after buying an additional 1,888 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Campbell Soup during the second quarter worth approximately $354,000. Advisor Partners LLC lifted its stake in Campbell Soup by 4.3% during the second quarter. Advisor Partners LLC now owns 6,319 shares of the company’s stock worth $253,000 after purchasing an additional 259 shares during the last quarter. Trust Co. of Vermont lifted its stake in Campbell Soup by 514.7% during the second quarter. Trust Co. of Vermont now owns 1,844 shares of the company’s stock worth $74,000 after purchasing an additional 1,544 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new stake in Campbell Soup during the second quarter worth approximately $143,000. 52.17% of the stock is owned by institutional investors.
In related news, Director Randall W. Larrimore sold 3,400 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $41.36, for a total transaction of $140,624.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Stanley Polomski sold 9,732 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $41.01, for a total value of $399,109.32. Following the transaction, the vice president now directly owns 24,540 shares in the company, valued at approximately $1,006,385.40. The disclosure for this sale can be found here. Insiders have sold 19,132 shares of company stock worth $780,333 in the last ninety days. 37.20% of the stock is currently owned by corporate insiders.
Several research firms recently weighed in on CPB. Zacks Investment Research upgraded Campbell Soup from a “sell” rating to a “hold” rating and set a $45.00 target price for the company in a research note on Friday, June 7th. UBS Group set a $36.00 price objective on Campbell Soup and gave the company a “sell” rating in a research note on Thursday, June 6th. Bank of America reiterated an “underperform” rating and issued a $32.00 price objective on shares of Campbell Soup in a research note on Friday, June 14th. Evercore ISI began coverage on Campbell Soup in a research note on Tuesday, June 11th. They issued an “in-line” rating and a $43.00 price objective for the company. Finally, ValuEngine upgraded Campbell Soup from a “sell” rating to a “hold” rating in a research note on Monday, May 13th. Six investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Campbell Soup has a consensus rating of “Hold” and an average target price of $39.60.
NYSE:CPB opened at $42.16 on Friday. The firm has a market cap of $12.73 billion, a P/E ratio of 14.69, a PEG ratio of 3.27 and a beta of 0.51. The company has a current ratio of 0.62, a quick ratio of 0.36 and a debt-to-equity ratio of 6.07. The stock’s 50 day simple moving average is $41.29 and its 200-day simple moving average is $38.68. Campbell Soup has a 12-month low of $32.03 and a 12-month high of $43.66.
Campbell Soup (NYSE:CPB) last announced its quarterly earnings data on Wednesday, June 5th. The company reported $0.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.09. Campbell Soup had a return on equity of 54.23% and a net margin of 3.19%. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the company posted $0.70 earnings per share. Campbell Soup’s quarterly revenue was up 16.0% on a year-over-year basis. Research analysts forecast that Campbell Soup will post 2.54 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 29th. Investors of record on Friday, July 12th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date was Thursday, July 11th. Campbell Soup’s dividend payout ratio is presently 48.78%.
Campbell Soup Profile
Campbell Soup Company, together with its subsidiaries, manufactures and markets branded food and beverage products. It operates through three segments: Americas Simple Meals and Beverages, Global Biscuits and Snacks, and Campbell Fresh. The Americas Simple Meals and Beverages segment engages in the retail and food service of Campbell's condensed and ready-to-serve soups; Swanson broth and stocks; Prego pasta sauces; Pace Mexican sauces; Campbell's gravies, pastas, beans, and dinner sauces; Swanson canned poultry products; Plum food and snack products; V8 juices and beverages; Campbell's tomato juices; and Pacific broth, soups, non-dairy beverages, and other simple meals.
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