Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 4,351 Shares of Campbell Soup (CPB)
Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its position in shares of Campbell Soup (NYSE:CPB) by 21.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 15,790 shares of the company’s stock after selling 4,351 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Campbell Soup were worth $578,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Tower Research Capital LLC TRC raised its holdings in Campbell Soup by 766.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,467 shares of the company’s stock valued at $140,000 after buying an additional 3,067 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in Campbell Soup by 367.4% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 3,590 shares of the company’s stock valued at $132,000 after buying an additional 2,822 shares during the period. Exane Derivatives purchased a new stake in Campbell Soup during the 3rd quarter valued at $138,000. CSat Investment Advisory L.P. purchased a new stake in Campbell Soup during the 2nd quarter valued at $159,000. Finally, Truvestments Capital LLC purchased a new stake in Campbell Soup during the 3rd quarter valued at $150,000. 53.18% of the stock is currently owned by institutional investors and hedge funds.
In other Campbell Soup news, insider Luca Mignini acquired 5,494 shares of the business’s stock in a transaction on Tuesday, October 2nd. The shares were bought at an average price of $36.41 per share, with a total value of $200,036.54. Following the transaction, the insider now directly owns 112,990 shares of the company’s stock, valued at approximately $4,113,965.90. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 37.20% of the company’s stock.
Campbell Soup (NYSE:CPB) last announced its quarterly earnings data on Tuesday, November 20th. The company reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.10. The company had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.66 billion. Campbell Soup had a return on equity of 53.81% and a net margin of 1.95%. Campbell Soup’s quarterly revenue was up 24.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.92 EPS. On average, equities analysts expect that Campbell Soup will post 2.47 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 28th. Shareholders of record on Wednesday, January 9th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend is Tuesday, January 8th. Campbell Soup’s dividend payout ratio (DPR) is presently 48.78%.
Several research firms recently weighed in on CPB. JPMorgan Chase & Co. lowered Campbell Soup from a “neutral” rating to an “underweight” rating and set a $48.00 price target on the stock. in a report on Friday, August 10th. Wells Fargo & Co set a $42.00 price target on Campbell Soup and gave the company a “hold” rating in a report on Monday, August 20th. Piper Jaffray Companies set a $35.00 price target on Campbell Soup and gave the company a “sell” rating in a report on Tuesday, August 14th. UBS Group set a $30.00 price target on Campbell Soup and gave the company a “sell” rating in a report on Thursday, August 23rd. Finally, Royal Bank of Canada increased their price target on Campbell Soup to $43.00 and gave the company a “sector perform” rating in a report on Thursday, August 23rd. Nine analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. Campbell Soup has an average rating of “Hold” and a consensus price target of $40.33.
About Campbell Soup
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.
Further Reading: Risk Tolerance
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