Campbell Soup (CPB) Shares Bought by Commonwealth Bank of Australia
Commonwealth Bank of Australia lifted its stake in shares of Campbell Soup (NYSE:CPB) by 4.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 79,851 shares of the company’s stock after acquiring an additional 3,500 shares during the quarter. Commonwealth Bank of Australia’s holdings in Campbell Soup were worth $2,920,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. grew its position in Campbell Soup by 0.3% in the second quarter. BlackRock Inc. now owns 14,584,732 shares of the company’s stock worth $591,265,000 after buying an additional 36,804 shares during the last quarter. Morgan Stanley grew its position in Campbell Soup by 1,223.0% in the second quarter. Morgan Stanley now owns 5,721,091 shares of the company’s stock worth $231,933,000 after buying an additional 5,288,651 shares during the last quarter. Brandywine Managers LLC grew its position in Campbell Soup by 51.2% in the second quarter. Brandywine Managers LLC now owns 5,609,014 shares of the company’s stock worth $227,389,000 after buying an additional 1,900,000 shares during the last quarter. Third Point LLC acquired a new position in Campbell Soup in the second quarter worth approximately $224,997,000. Finally, Beutel Goodman & Co Ltd. grew its position in Campbell Soup by 20.3% in the second quarter. Beutel Goodman & Co Ltd. now owns 2,843,202 shares of the company’s stock worth $87,692,000 after buying an additional 480,296 shares during the last quarter. Institutional investors and hedge funds own 55.65% of the company’s stock.
Several research analysts have issued reports on CPB shares. JPMorgan Chase & Co. lowered shares of Campbell Soup from a “neutral” rating to an “underweight” rating and set a $48.00 price target on the stock. in a research report on Friday, August 10th. Piper Jaffray Companies set a $35.00 price target on shares of Campbell Soup and gave the stock a “sell” rating in a research report on Tuesday, August 14th. Wells Fargo & Co set a $42.00 price target on shares of Campbell Soup and gave the stock a “hold” rating in a research report on Monday, August 20th. UBS Group set a $30.00 price target on shares of Campbell Soup and gave the stock a “sell” rating in a research report on Thursday, August 23rd. Finally, Royal Bank of Canada lifted their price target on shares of Campbell Soup to $43.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 23rd. Twelve analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Sell” and a consensus target price of $39.73.
NYSE CPB opened at $38.45 on Tuesday. Campbell Soup has a twelve month low of $32.63 and a twelve month high of $51.07. The company has a debt-to-equity ratio of 5.83, a quick ratio of 0.31 and a current ratio of 0.64. The company has a market cap of $11.62 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 2.72 and a beta of 0.13.
Campbell Soup (NYSE:CPB) last posted its quarterly earnings data on Thursday, August 30th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. Campbell Soup had a net margin of 3.01% and a return on equity of 53.88%. The firm had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period in the previous year, the company posted $0.52 EPS. The company’s quarterly revenue was up 33.4% compared to the same quarter last year. As a group, equities analysts expect that Campbell Soup will post 2.41 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 29th. Shareholders of record on Friday, October 12th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.64%. The ex-dividend date was Thursday, October 11th. Campbell Soup’s payout ratio is 48.78%.
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Campbell Soup Profile
Campbell Soup Company, together with its subsidiaries, manufactures and markets branded food and beverage products. It operates through three segments: Americas Simple Meals and Beverages, Global Biscuits and Snacks, and Campbell Fresh. The Americas Simple Meals and Beverages segment engages in the retail and food service of Campbell's condensed and ready-to-serve soups; Swanson broth and stocks; Prego pasta sauces; Pace Mexican sauces; Campbell's gravies, pastas, beans, and dinner sauces; Swanson canned poultry products; Plum food and snack products; V8 juices and beverages; Campbell's tomato juices; and Pacific broth, soups, non-dairy beverages, and other simple meals.
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