Geode Capital Management LLC raised its stake in Campbell Soup (NYSE:CPB) by 2.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,520,032 shares of the company’s stock after buying an additional 67,987 shares during the period. Geode Capital Management LLC owned about 0.84% of Campbell Soup worth $121,039,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of CPB. Nationwide Fund Advisors increased its holdings in shares of Campbell Soup by 191.7% in the 3rd quarter. Nationwide Fund Advisors now owns 157,856 shares of the company’s stock worth $7,391,000 after buying an additional 103,734 shares during the last quarter. Crossmark Global Holdings Inc. bought a new position in shares of Campbell Soup in the 3rd quarter worth $1,050,000. Victory Capital Management Inc. increased its holdings in shares of Campbell Soup by 4,381.8% in the 3rd quarter. Victory Capital Management Inc. now owns 167,307 shares of the company’s stock worth $7,833,000 after buying an additional 163,574 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Campbell Soup by 116.3% in the 3rd quarter. American Century Companies Inc. now owns 1,357,438 shares of the company’s stock worth $63,555,000 after buying an additional 729,762 shares during the last quarter. Finally, Swiss National Bank increased its holdings in shares of Campbell Soup by 0.6% in the 3rd quarter. Swiss National Bank now owns 1,133,453 shares of the company’s stock worth $53,068,000 after buying an additional 6,900 shares during the last quarter. 50.21% of the stock is currently owned by hedge funds and other institutional investors.
In other Campbell Soup news, insider Luca Mignini purchased 4,400 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was bought at an average cost of $45.53 per share, with a total value of $200,332.00. Following the transaction, the insider now directly owns 87,814 shares in the company, valued at approximately $3,998,171.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Edward Carolan sold 6,500 shares of Campbell Soup stock in a transaction dated Wednesday, December 20th. The shares were 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 $1,998,513.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,284 shares of company stock valued at $741,399. 37.20% of the stock is currently owned by corporate insiders.
CPB has been the topic of a number of research analyst reports. Citigroup raised shares of Campbell Soup from a “neutral” rating to a “buy” rating and increased their price target for the stock from $45.51 to $57.00 in a report on Tuesday, January 16th. JPMorgan Chase & Co. reissued a “hold” rating and issued a $50.00 price target on shares of Campbell Soup in a report on Friday, December 15th. Piper Jaffray Companies set a $49.00 target price on shares of Campbell Soup and gave the stock a “hold” rating in a research report on Tuesday, November 28th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $53.00 target price (down from $55.00) on shares of Campbell Soup in a research report on Wednesday, November 22nd. Finally, Zacks Investment Research raised shares of Campbell Soup from a “sell” rating to a “hold” rating in a research report on Tuesday, January 23rd. Seven investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $50.27.
CPB stock traded up $0.27 during trading hours on Friday, hitting $43.58. 5,667,416 shares of the stock traded hands, compared to its average volume of 3,595,868. Campbell Soup has a 12-month low of $41.78 and a 12-month high of $59.34. The stock has a market cap of $13,100.45, a PE ratio of 12.52, a price-to-earnings-growth ratio of 2.66 and a beta of 0.38. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.35 and a current ratio of 0.64.
Campbell Soup (NYSE:CPB) last issued its quarterly earnings results on Friday, February 16th. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.19. Campbell Soup had a net margin of 13.41% and a return on equity of 54.10%. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period last year, the company posted $0.91 EPS. Campbell Soup’s revenue was up .4% on a year-over-year basis. equities research analysts expect that Campbell Soup will post 3.1 earnings per share for the current fiscal year.
Campbell Soup declared that its Board of Directors has initiated a share repurchase plan on Monday, December 18th that allows the company to buyback shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
About Campbell Soup
Campbell Soup Company, together with its subsidiaries, manufactures and markets 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; Plum food and snacks; V8 juices and beverages; and Campbell's tomato juices.
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