Kessler Investment Group LLC Decreases Stake in Campbell Soup (CPB)
Kessler Investment Group LLC trimmed its stake in shares of Campbell Soup (NYSE:CPB) by 4.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,820 shares of the company’s stock after selling 465 shares during the period. Kessler Investment Group LLC’s holdings in Campbell Soup were worth $324,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its position in Campbell Soup by 1.6% during the second quarter. Russell Investments Group Ltd. now owns 80,449 shares of the company’s stock valued at $3,267,000 after buying an additional 1,254 shares during the period. LFA Lugano Financial Advisors SA bought a new stake in Campbell Soup during the second quarter valued at approximately $175,000. Laurion Capital Management LP bought a new stake in Campbell Soup during the third quarter valued at approximately $2,331,000. Bell Rock Capital LLC bought a new stake in Campbell Soup during the third quarter valued at approximately $1,699,000. Finally, Eaton Vance Management grew its position in Campbell Soup by 17.2% during the third quarter. Eaton Vance Management now owns 1,178,659 shares of the company’s stock valued at $43,174,000 after buying an additional 172,716 shares during the period. 53.12% of the stock is owned by hedge funds and other institutional investors.
Shares of CPB traded up $0.52 during mid-day trading on Friday, reaching $35.00. The stock had a trading volume of 78,517 shares, compared to its average volume of 3,009,949. The firm has a market cap of $10.29 billion, a P/E ratio of 12.21, a PEG ratio of 2.50 and a beta of 0.39. Campbell Soup has a 12 month low of $32.03 and a 12 month high of $48.10. The company has a debt-to-equity ratio of 5.65, a current ratio of 0.69 and a quick ratio of 0.35.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 28th. Investors of record on Wednesday, January 9th will be given a dividend of $0.35 per share. The ex-dividend date is Tuesday, January 8th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.00%. Campbell Soup’s dividend payout ratio is 48.78%.
CPB has been the subject of several recent research reports. ValuEngine upgraded shares of Campbell Soup from a “strong sell” rating to a “sell” rating in a research report on Thursday, October 11th. Credit Suisse Group cut their target price on shares of Campbell Soup from $36.00 to $33.00 and set a “sell” rating for the company in a research report on Friday, September 28th. Piper Jaffray Companies set a $35.00 target price on shares of Campbell Soup and gave the company an “underweight” rating in a research report on Friday, September 14th. Deutsche Bank set a $40.00 target price on shares of Campbell Soup and gave the company a “hold” rating in a research report on Wednesday, November 21st. Finally, Bank of America set a $31.00 price target on shares of Campbell Soup and gave the stock a “sell” rating in a research report on Tuesday, November 27th. Ten analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $39.93.
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.
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