Schwab Charles Investment Management Inc. lifted its stake in shares of Campbell Soup Company (NYSE:CPB) by 12.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 954,318 shares of the company’s stock after acquiring an additional 103,338 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.32% of Campbell Soup worth $44,682,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in CPB. Motco grew its stake in shares of Campbell Soup by 301.9% during the 2nd quarter. Motco now owns 2,130 shares of the company’s stock valued at $111,000 after acquiring an additional 1,600 shares during the period. First Personal Financial Services grew its stake in shares of Campbell Soup by 180.9% during the 3rd quarter. First Personal Financial Services now owns 2,677 shares of the company’s stock valued at $125,000 after acquiring an additional 1,724 shares during the period. Meeder Asset Management Inc. bought a new position in shares of Campbell Soup during the 3rd quarter valued at approximately $175,000. Victory Capital Management Inc. grew its stake in shares of Campbell Soup by 6.1% during the 2nd quarter. Victory Capital Management Inc. now owns 3,733 shares of the company’s stock valued at $195,000 after acquiring an additional 213 shares during the period. Finally, First Allied Advisory Services Inc. grew its stake in shares of Campbell Soup by 6.3% during the 2nd quarter. First Allied Advisory Services Inc. now owns 3,847 shares of the company’s stock valued at $201,000 after acquiring an additional 227 shares during the period. Institutional investors own 46.33% of the company’s stock.
In other news, Director Charles R. Perrin sold 2,304 shares of the stock in a transaction that occurred on Friday, October 6th. The stock was sold at an average price of $46.46, for a total transaction of $107,043.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Luca Mignini bought 4,300 shares of the stock in a transaction dated Wednesday, September 27th. The shares were purchased at an average price of $46.47 per share, with a total value of $199,821.00. Following the completion of the transaction, the insider now directly owns 88,178 shares in the company, valued at approximately $4,097,631.66. The disclosure for this purchase can be found here. 37.20% of the stock is currently owned by corporate insiders.
A number of brokerages recently issued reports on CPB. Zacks Investment Research upgraded Campbell Soup from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. Royal Bank Of Canada dropped their price target on Campbell Soup from $56.00 to $55.00 and set a “sector perform” rating for the company in a research note on Monday, November 20th. Piper Jaffray Companies restated a “neutral” rating and issued a $50.00 price target (down from $56.00) on shares of Campbell Soup in a research note on Monday, September 11th. Credit Suisse Group set a $41.00 price target on Campbell Soup and gave the stock a “sell” rating in a research note on Friday, November 24th. Finally, Morgan Stanley restated an “underweight” rating and issued a $47.00 price target (down from $52.00) on shares of Campbell Soup in a research note on Friday, September 1st. Seven analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. Campbell Soup has a consensus rating of “Hold” and a consensus price target of $49.91.
Campbell Soup Company (NYSE CPB) traded up $0.36 during midday trading on Thursday, hitting $50.19. The stock had a trading volume of 2,252,600 shares, compared to its average volume of 2,009,402. The company has a quick ratio of 0.42, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The company has a market cap of $14,975.34, a P/E ratio of 16.95, a P/E/G ratio of 3.79 and a beta of 0.40. Campbell Soup Company has a 52-week low of $44.99 and a 52-week high of $64.23.
Campbell Soup (NYSE:CPB) last posted its earnings results on Tuesday, November 21st. The company reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.05). The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.17 billion. Campbell Soup had a net margin of 11.08% and a return on equity of 56.88%. The firm’s revenue was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.00 earnings per share. equities analysts expect that Campbell Soup Company will post 2.96 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 29th. Stockholders of record on Wednesday, January 10th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.79%. Campbell Soup’s dividend payout ratio is currently 48.95%.
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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.
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