Campbell Soup (CPB) Shares Bought by CIBC World Markets Inc.
CIBC World Markets Inc. lifted its holdings in Campbell Soup (NYSE:CPB) by 19.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,366 shares of the company’s stock after purchasing an additional 1,990 shares during the period. CIBC World Markets Inc.’s holdings in Campbell Soup were worth $595,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. First Personal Financial Services lifted its stake in shares of Campbell Soup by 180.9% in the 3rd quarter. First Personal Financial Services now owns 2,677 shares of the company’s stock valued at $125,000 after purchasing an additional 1,724 shares during the last quarter. Cordasco Financial Network acquired a new stake in shares of Campbell Soup in the 4th quarter valued at $144,000. Meeder Asset Management Inc. acquired a new stake in shares of Campbell Soup in the 3rd quarter valued at $175,000. First Allied Advisory Services Inc. lifted its stake in shares of Campbell Soup by 6.3% in the 2nd quarter. First Allied Advisory Services Inc. now owns 3,847 shares of the company’s stock valued at $201,000 after purchasing an additional 227 shares during the last quarter. Finally, Everence Capital Management Inc. acquired a new stake in shares of Campbell Soup in the 3rd quarter valued at $211,000. 47.02% of the stock is owned by institutional investors and hedge funds.
Several research firms recently issued reports on CPB. Wolfe Research began coverage on shares of Campbell Soup in a research note on Friday, January 26th. They issued a “market perform” rating for the company. Zacks Investment Research raised shares of Campbell Soup from a “sell” rating to a “hold” rating in a research note on Tuesday, January 23rd. Morgan Stanley reduced their price objective on shares of Campbell Soup from $47.00 to $46.00 and set an “underweight” rating for the company in a research note on Friday, October 13th. UBS Group reduced their price objective on shares of Campbell Soup from $42.00 to $41.00 and set a “sell” rating for the company in a research note on Wednesday, November 22nd. Finally, Citigroup reaffirmed a “neutral” rating and issued a $54.00 price objective (up previously from $50.00) on shares of Campbell Soup in a research note on Wednesday, December 20th. Six analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $50.08.
Campbell Soup (NYSE:CPB) last released its earnings results 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 firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.17 billion. Campbell Soup had a return on equity of 56.88% and a net margin of 11.08%. The firm’s revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.00 EPS. equities analysts expect that Campbell Soup will post 2.95 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, January 29th. Shareholders of record on Wednesday, January 10th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend was Tuesday, January 9th. Campbell Soup’s dividend payout ratio is 48.95%.
Campbell Soup declared that its Board of Directors has approved a share buyback plan on Monday, December 18th that authorizes the company to buyback shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.
In other news, insider Edward Carolan sold 6,500 shares of the company’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $48.15, for a total transaction of $312,975.00. Following the completion of the transaction, the insider now owns 41,506 shares of the company’s stock, valued at $1,998,513.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Carlos Barroso sold 4,300 shares of the company’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $48.86, for a total transaction of $210,098.00. Following the transaction, the senior vice president now directly owns 29,119 shares of the company’s stock, valued at approximately $1,422,754.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,284 shares of company stock valued at $741,399. Company insiders own 37.20% of the company’s stock.
Campbell Soup 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.
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