Voloridge Investment Management LLC lowered its holdings in Campbell Soup (NYSE:CPB) by 38.3% in the third quarter, Holdings Channel reports. The firm owned 72,100 shares of the company’s stock after selling 44,731 shares during the quarter. Voloridge Investment Management LLC’s holdings in Campbell Soup were worth $3,383,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Massey Quick Simon & CO. LLC bought a new stake in Campbell Soup during the 3rd quarter worth about $25,000. Citizens Financial Group Inc RI acquired a new stake in shares of Campbell Soup in the 2nd quarter valued at approximately $28,000. Meeder Asset Management Inc. raised its position in Campbell Soup by 204.7% during the second quarter. Meeder Asset Management Inc. now owns 783 shares of the company’s stock worth $31,000 after acquiring an additional 526 shares in the last quarter. Strategic Blueprint LLC acquired a new stake in Campbell Soup in the third quarter valued at $47,000. Finally, AdvisorNet Financial Inc grew its position in shares of Campbell Soup by 1,207.5% in the 3rd quarter. AdvisorNet Financial Inc now owns 1,046 shares of the company’s stock valued at $49,000 after acquiring an additional 966 shares during the period. 50.88% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Campbell Soup from $41.00 to $48.00 in a research note on Tuesday, September 3rd. Royal Bank of Canada started coverage on Campbell Soup in a report on Thursday, October 17th. They set an “outperform” rating and a $55.00 price target for the company. Piper Jaffray Companies raised Campbell Soup from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $40.00 to $45.00 in a research report on Tuesday, September 3rd. Bank of America upped their price objective on Campbell Soup from $36.00 to $40.00 and gave the company an “underperform” rating in a research note on Tuesday, September 3rd. Finally, Wells Fargo & Co reaffirmed a “hold” rating and issued a $45.00 price objective on shares of Campbell Soup in a research report on Friday, August 30th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $43.82.
NYSE CPB opened at $47.14 on Tuesday. The company has a current ratio of 0.58, a quick ratio of 0.33 and a debt-to-equity ratio of 6.39. Campbell Soup has a 1-year low of $32.03 and a 1-year high of $48.39. The company has a 50 day moving average of $46.92 and a 200-day moving average of $43.56. The company has a market cap of $14.03 billion, a price-to-earnings ratio of 20.50, a PEG ratio of 3.11 and a beta of 0.42.
Campbell Soup (NYSE:CPB) last issued its quarterly earnings results on Friday, August 30th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.08. The business had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Campbell Soup had a return on equity of 62.59% and a net margin of 2.25%. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.25 earnings per share. On average, equities research analysts forecast that Campbell Soup will post 2.52 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Wednesday, January 8th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Tuesday, January 7th. Campbell Soup’s payout ratio is currently 60.87%.
In related news, SVP Adam G. Ciongoli sold 16,096 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $47.16, for a total value of $759,087.36. Following the completion of the transaction, the senior vice president now owns 70,984 shares of the company’s stock, valued at $3,347,605.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 36.48% of the stock is owned by insiders.
About Campbell Soup
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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