Wedge Capital Management L L P NC Acquires New Stake in Campbell Soup (NYSE:CPB)
Wedge Capital Management L L P NC acquired a new stake in shares of Campbell Soup (NYSE:CPB) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 783,115 shares of the company’s stock, valued at approximately $31,379,000. Wedge Capital Management L L P NC owned approximately 0.26% of Campbell Soup as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of CPB. Roble Belko & Company Inc bought a new position in Campbell Soup during the 1st quarter valued at approximately $27,000. Creative Financial Designs Inc. ADV bought a new position in Campbell Soup during the 1st quarter valued at approximately $31,000. CWM LLC increased its position in Campbell Soup by 319.5% during the 1st quarter. CWM LLC now owns 839 shares of the company’s stock valued at $32,000 after buying an additional 639 shares in the last quarter. Parallel Advisors LLC increased its position in Campbell Soup by 52.2% during the 1st quarter. Parallel Advisors LLC now owns 860 shares of the company’s stock valued at $33,000 after buying an additional 295 shares in the last quarter. Finally, Penserra Capital Management LLC bought a new stake in shares of Campbell Soup in the 1st quarter worth $39,000. 52.17% of the stock is owned by institutional investors.
In other news, Director Randall W. Larrimore sold 3,400 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $41.36, for a total value of $140,624.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Robert Furbee sold 6,000 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $40.10, for a total value of $240,600.00. Following the completion of the transaction, the insider now owns 18,015 shares in the company, valued at $722,401.50. The disclosure for this sale can be found here. Insiders have sold 19,132 shares of company stock worth $780,333 over the last quarter. 37.20% of the stock is owned by company insiders.
NYSE CPB traded down $0.21 on Wednesday, hitting $42.05. 45,414 shares of the company traded hands, compared to its average volume of 2,375,784. The firm has a market cap of $12.73 billion, a P/E ratio of 14.56, a price-to-earnings-growth ratio of 3.23 and a beta of 0.51. The company has a quick ratio of 0.36, a current ratio of 0.62 and a debt-to-equity ratio of 6.07. The business has a 50 day simple moving average of $41.23. Campbell Soup has a 52-week low of $32.03 and a 52-week high of $43.66.
Campbell Soup (NYSE:CPB) last released its earnings results on Wednesday, June 5th. The company reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.09. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.35 billion. Campbell Soup had a return on equity of 54.23% and a net margin of 3.19%. Campbell Soup’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.70 earnings per share. As a group, analysts anticipate that Campbell Soup will post 2.54 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, July 29th. Investors of record on Friday, July 12th were given a dividend of $0.35 per share. The ex-dividend date was Thursday, July 11th. This represents a $1.40 annualized dividend and a yield of 3.33%. Campbell Soup’s dividend payout ratio (DPR) is presently 48.78%.
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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