Herndon Capital Management LLC Has $58,432,000 Position in Campbell Soup Co. (CPB)
Herndon Capital Management LLC raised its position in Campbell Soup Co. (NYSE:CPB) by 10.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 878,282 shares of the company’s stock after buying an additional 82,303 shares during the period. Campbell Soup makes up 2.2% of Herndon Capital Management LLC’s holdings, making the stock its 25th largest position. Herndon Capital Management LLC’s holdings in Campbell Soup were worth $58,432,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in CPB. State Street Corp raised 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 worth $531,469,000 after buying an additional 412,677 shares during the period. Geode Capital Management LLC raised its stake in Campbell Soup by 5.6% in the first quarter. Geode Capital Management LLC now owns 1,835,032 shares of the company’s stock worth $116,867,000 after buying an additional 97,930 shares during the period. AXA raised its stake in Campbell Soup by 1.1% in the first quarter. AXA now owns 1,169,280 shares of the company’s stock worth $74,589,000 after buying an additional 12,800 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in Campbell Soup by 11.2% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,064,412 shares of the company’s stock worth $70,820,000 after buying an additional 107,486 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in Campbell Soup by 8.7% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 610,107 shares of the company’s stock worth $40,590,000 after buying an additional 48,819 shares during the period. Institutional investors and hedge funds own 44.17% of the company’s stock.
Campbell Soup Co. (NYSE:CPB) traded up 1.36% during trading on Tuesday, reaching $54.41. The company’s stock had a trading volume of 2,844,612 shares. The stock’s 50-day moving average is $55.59 and its 200 day moving average is $61.02. Campbell Soup Co. has a 12 month low of $47.77 and a 12 month high of $67.89. The company has a market cap of $16.75 billion, a P/E ratio of 30.06 and a beta of 0.38.
Campbell Soup (NYSE:CPB) last posted its earnings results on Thursday, September 1st. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by $0.04. The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.69 billion. Campbell Soup had a return on equity of 59.50% and a net margin of 7.07%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.43 EPS. On average, equities analysts forecast that Campbell Soup Co. will post $3.04 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Wednesday, October 12th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date is Friday, October 7th. This is a boost from Campbell Soup’s previous quarterly dividend of $0.31. Campbell Soup’s payout ratio is presently 77.78%.
A number of brokerages have commented on CPB. Bank of America Corp. reiterated a “neutral” rating on shares of Campbell Soup in a research report on Friday, September 2nd. Zacks Investment Research lowered Campbell Soup from a “hold” rating to a “sell” rating in a research report on Tuesday, August 30th. Citigroup Inc. decreased their price objective on Campbell Soup from $67.00 to $63.00 and set a “neutral” rating on the stock in a research report on Friday, September 2nd. RBC Capital Markets reiterated a “sector perform” rating and issued a $58.00 price objective (down from $62.00) on shares of Campbell Soup in a research report on Sunday, September 4th. Finally, Wells Fargo & Co. set a $59.50 price objective on Campbell Soup and gave the company a “hold” rating in a research report on Sunday, September 4th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and one has given a buy rating to the company. Campbell Soup currently has an average rating of “Hold” and a consensus price target of $59.83.
In other Campbell Soup news, insider Edward Carolan sold 2,400 shares of the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $54.35, for a total transaction of $130,440.00. Following the sale, the insider now owns 49,038 shares of the company’s stock, valued at $2,665,215.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP William J. O’shea sold 13,000 shares of the business’s stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $57.74, for a total transaction of $750,620.00. Following the sale, the vice president now directly owns 28,952 shares in the company, valued at approximately $1,671,688.48. The disclosure for this sale can be found here. Company insiders own 37.30% of the company’s stock.
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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