Strs Ohio Purchases 55 Shares of Campbell Soup Co. (CPB)
Strs Ohio raised its position in shares of Campbell Soup Co. (NYSE:CPB) by 0.2% during the second quarter, Holdings Channel reports. The institutional investor owned 33,149 shares of the company’s stock after buying an additional 55 shares during the period. Strs Ohio’s holdings in Campbell Soup were worth $2,205,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. State Street Corp boosted its stake in Campbell Soup by 5.2% in the first quarter. State Street Corp now owns 8,331,473 shares of the company’s stock valued at $531,469,000 after buying an additional 412,677 shares during the last quarter. Bank of Montreal Can purchased a new stake in Campbell Soup during the second quarter valued at $24,817,000. First Quadrant L P CA boosted its stake in Campbell Soup by 178,458.9% in the second quarter. First Quadrant L P CA now owns 299,979 shares of the company’s stock valued at $19,958,000 after buying an additional 299,811 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in Campbell Soup by 85.9% in the first quarter. Canada Pension Plan Investment Board now owns 543,043 shares of the company’s stock valued at $34,641,000 after buying an additional 251,000 shares during the last quarter. Finally, Hancock Holding Co. purchased a new stake in Campbell Soup during the first quarter valued at $15,992,000. Institutional investors own 43.99% of the company’s stock.
Campbell Soup Co. (NYSE:CPB) traded up 0.60% during midday trading on Friday, hitting $53.87. The stock had a trading volume of 1,987,718 shares. The firm has a 50-day moving average of $56.73 and a 200 day moving average of $61.45. Campbell Soup Co. has a 52-week low of $47.77 and a 52-week high of $67.89. The firm has a market capitalization of $16.59 billion, a P/E ratio of 29.76 and a beta of 0.37.
Campbell Soup (NYSE:CPB) last released its quarterly earnings data on Thursday, September 1st. The company reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by $0.04. Campbell Soup had a net margin of 7.07% and a return on equity of 59.50%. The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the prior year, the business posted $0.43 earnings per share. Campbell Soup’s revenue for the quarter was down .4% on a year-over-year basis. On average, equities analysts forecast that Campbell Soup Co. will post $3.04 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Wednesday, October 12th will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, October 7th. This is an increase from Campbell Soup’s previous quarterly dividend of $0.31. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.60%. Campbell Soup’s dividend payout ratio (DPR) is currently 69.44%.
A number of analysts have recently commented on CPB shares. Zacks Investment Research cut Campbell Soup from a “hold” rating to a “sell” rating in a research report on Tuesday, August 30th. Credit Suisse Group AG reissued a “sell” rating and issued a $60.00 price target on shares of Campbell Soup in a research report on Thursday, July 28th. Deutsche Bank AG dropped their price target on Campbell Soup from $63.00 to $61.00 and set a “hold” rating on the stock in a research report on Friday, August 26th. Credit Agricole SA dropped their price target on Campbell Soup from $64.00 to $59.00 and set a “market perform” rating on the stock in a research report on Monday, September 12th. Finally, Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $68.00 price target (up from $62.00) on shares of Campbell Soup in a research report on Friday, July 15th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $59.83.
In other Campbell Soup news, VP William J. O’shea sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $57.74, for a total value of $750,620.00. Following the completion of the sale, the vice president now directly owns 28,952 shares in the company, valued at $1,671,688.48. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jeff Dunn sold 8,459 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $56.24, for a total transaction of $475,734.16. Following the completion of the sale, the insider now owns 112,775 shares of the company’s stock, valued at $6,342,466. The disclosure for this sale can be found here. Insiders own 37.70% of the company’s stock.
About Campbell Soup
Campbell Soup Company manufactures and markets food products. The Company’s segments include U.S. Simple Meals; Global Baking and Snacking; International Simple Meals and Beverages; U.S. Beverages, and Bolthouse and Foodservice. Its U.S. Simple Meals segment includes various products, such as Campbell’s condensed and ready-to-serve soups; Prego pasta sauces, and Pace Mexican sauces.
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