Vanguard Group Inc. trimmed its position in Campbell Soup (NYSE:CPB) by 3.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 23,465,628 shares of the company’s stock after selling 757,497 shares during the quarter. Vanguard Group Inc. owned approximately 0.08% of Campbell Soup worth $1,069,798,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Brandywine Trust Co. boosted its stake in Campbell Soup by 6.2% in the first quarter. Brandywine Trust Co. now owns 4,256,948 shares of the company’s stock valued at $213,997,000 after acquiring an additional 250,000 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Campbell Soup by 467.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,867,259 shares of the company’s stock worth $194,407,000 after buying an additional 3,186,269 shares during the period. Geode Capital Management LLC lifted its stake in shares of Campbell Soup by 2.8% during the first quarter. Geode Capital Management LLC now owns 3,380,351 shares of the company’s stock worth $169,490,000 after buying an additional 92,018 shares during the period. Champlain Investment Partners LLC raised its holdings in shares of Campbell Soup by 12.8% during the first quarter. Champlain Investment Partners LLC now owns 2,686,680 shares of the company’s stock worth $135,059,000 after purchasing an additional 305,260 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of Campbell Soup by 1.5% during the first quarter. Janus Henderson Group PLC now owns 2,481,048 shares of the company’s stock worth $124,723,000 after purchasing an additional 36,669 shares during the last quarter. Institutional investors own 52.09% of the company’s stock.
CPB stock opened at $41.51 on Thursday. The stock has a market capitalization of $12.52 billion, a P/E ratio of 12.62 and a beta of 0.58. The firm has a 50-day simple moving average of $42.51 and a 200-day simple moving average of $45.67. The company has a quick ratio of 0.51, a current ratio of 0.93 and a debt-to-equity ratio of 1.59. Campbell Soup has a 52 week low of $40.05 and a 52 week high of $53.77.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 1st. Shareholders of record on Thursday, October 7th will be issued a $0.37 dividend. The ex-dividend date is Wednesday, October 6th. This represents a $1.48 annualized dividend and a yield of 3.57%. Campbell Soup’s payout ratio is 49.66%.
Campbell Soup declared that its board has authorized a stock repurchase plan on Wednesday, September 1st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 3.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
Several research analysts recently issued reports on the stock. Credit Suisse Group reduced their target price on shares of Campbell Soup from $46.00 to $41.00 and set a “neutral” rating for the company in a report on Friday, August 27th. Citigroup cut their price objective on shares of Campbell Soup from $47.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, October 5th. Jefferies Financial Group started coverage on shares of Campbell Soup in a report on Wednesday, September 1st. They issued a “hold” rating and a $45.00 price objective for the company. Bank of America cut their price objective on shares of Campbell Soup from $45.00 to $42.00 and set an “underperform” rating for the company in a report on Thursday, September 2nd. Finally, Morgan Stanley cut their price objective on shares of Campbell Soup from $48.00 to $46.00 and set an “equal weight” rating for the company in a report on Thursday, September 2nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $46.64.
Campbell Soup Company Profile
Campbell Soup Co engages in manufacture and marketing of convenience food products such as soup, simple meals, snacks, and healthy beverages. It operates through the following segments: Meals and Beverages, and Snacks. The Meals and Beverages segment includes the retail and food service businesses in the U.S., Canada and Latin America.
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