Ameriprise Financial Inc. Increases Position in Campbell Soup Company (CPB)
Ameriprise Financial Inc. lifted its position in shares of Campbell Soup Company (NYSE:CPB) by 1.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 93,472 shares of the company’s stock after buying an additional 1,461 shares during the period. Ameriprise Financial Inc.’s holdings in Campbell Soup were worth $4,379,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Berkshire Asset Management LLC PA raised its holdings in shares of Campbell Soup by 45.3% during the 3rd quarter. Berkshire Asset Management LLC PA now owns 12,036 shares of the company’s stock valued at $564,000 after buying an additional 3,750 shares in the last quarter. Northern Capital Management LLC raised its holdings in shares of Campbell Soup by 235.8% during the 3rd quarter. Northern Capital Management LLC now owns 73,810 shares of the company’s stock valued at $3,456,000 after buying an additional 51,830 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Campbell Soup by 15.7% during the 3rd quarter. First Trust Advisors LP now owns 431,245 shares of the company’s stock valued at $20,191,000 after buying an additional 58,407 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in Campbell Soup by 38.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 850,980 shares of the company’s stock worth $44,379,000 after purchasing an additional 236,417 shares during the period. Finally, ARP Americas LLC purchased a new position in Campbell Soup in the 3rd quarter worth approximately $502,000. 46.04% of the stock is currently owned by institutional investors.
CPB has been the topic of a number of analyst reports. Piper Jaffray Companies reaffirmed 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. UBS Group decreased their price target on Campbell Soup from $46.00 to $42.00 and set a “sell” rating on the stock in a research note on Thursday, November 9th. Citigroup reaffirmed a “neutral” rating and issued a $54.00 price target (up from $50.00) on shares of Campbell Soup in a research note on Wednesday, December 20th. Royal Bank of Canada decreased their price target on Campbell Soup from $56.00 to $55.00 and set a “sector perform” rating on the stock in a research note on Monday, November 20th. Finally, Morgan Stanley decreased their price target on Campbell Soup from $47.00 to $46.00 and set an “underweight” rating on the stock in a research note on Friday, October 13th. Seven equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. The stock presently has an average rating of “Hold” and an average target price of $49.83.
In other news, Director Randall W. Larrimore sold 2,242 shares of Campbell Soup stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $48.69, for a total value of $109,162.98. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Edward Carolan sold 6,500 shares of Campbell Soup stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $48.15, for a total value of $312,975.00. Following the completion of the sale, the insider now owns 41,506 shares in the company, valued at $1,998,513.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,588 shares of company stock worth $848,443. Corporate insiders own 37.20% of the company’s stock.
Shares of Campbell Soup Company (NYSE CPB) opened at $48.11 on Monday. The firm has a market capitalization of $14,462.20, a P/E ratio of 16.82, a PEG ratio of 3.79 and a beta of 0.40. Campbell Soup Company has a 1 year low of $44.99 and a 1 year high of $64.23. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.39.
Campbell Soup (NYSE:CPB) last issued its quarterly earnings data on Tuesday, November 21st. The company reported $0.92 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.97 by ($0.05). The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.17 billion. Campbell Soup had a return on equity of 56.88% and a net margin of 11.08%. Campbell Soup’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.00 earnings per share. equities research analysts anticipate that Campbell Soup Company will post 2.95 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 29th. Stockholders of record on Wednesday, January 10th will be given a $0.35 dividend. The ex-dividend date is Tuesday, January 9th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.91%. Campbell Soup’s dividend payout ratio is currently 48.95%.
Campbell Soup announced that its Board of Directors has authorized a share buyback program on Monday, December 18th that allows the company to repurchase outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
Campbell Soup Company Profile
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.
Receive News & Ratings for Campbell Soup Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Campbell Soup and related companies with MarketBeat.com's FREE daily email newsletter.