Robeco Institutional Asset Management B.V. increased its position in Campbell Soup Co. (NYSE:CPB) by 11.2% during the second quarter, Holdings Channel reports. The fund owned 1,064,412 shares of the company’s stock after buying an additional 107,486 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Campbell Soup were worth $70,820,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of CPB. Mn Services Vermogensbeheer B.V. acquired a new stake in shares of Campbell Soup during the first quarter valued at approximately $258,000. Teachers Advisors Inc. boosted its stake in shares of Campbell Soup by 19.4% in the first quarter. Teachers Advisors Inc. now owns 422,659 shares of the company’s stock valued at $26,961,000 after buying an additional 68,734 shares during the period. Prudential Financial Inc. boosted its stake in shares of Campbell Soup by 6.4% in the first quarter. Prudential Financial Inc. now owns 248,821 shares of the company’s stock valued at $15,873,000 after buying an additional 14,940 shares during the period. Rehmann Capital Advisory Group acquired a new stake in shares of Campbell Soup during the first quarter valued at approximately $226,000. Finally, FDO Partners LLC acquired a new stake in shares of Campbell Soup during the first quarter valued at approximately $517,000. Institutional investors and hedge funds own 43.99% of the company’s stock.
Shares of Campbell Soup Co. (NYSE:CPB) traded up 0.59% during mid-day trading on Friday, hitting $54.70. The company’s stock had a trading volume of 2,026,879 shares. The company has a 50-day moving average price of $57.68 and a 200-day moving average price of $61.81. Campbell Soup Co. has a 1-year low of $47.77 and a 1-year high of $67.89. The stock has a market cap of $16.84 billion, a PE ratio of 30.22 and a beta of 0.31.
Campbell Soup (NYSE:CPB) last released its quarterly earnings data on Thursday, September 1st. The company reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by $0.04. Campbell Soup had a net margin of 7.07% and a return on equity of 59.50%. The firm earned $1.69 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the prior year, the company earned $0.43 EPS. Campbell Soup’s quarterly revenue was down .4% on a year-over-year basis. Analysts predict that Campbell Soup Co. will post $3.04 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Wednesday, October 12th will be given a $0.35 dividend. The ex-dividend date is Friday, October 7th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.56%. This is a boost from Campbell Soup’s previous quarterly dividend of $0.31. Campbell Soup’s dividend payout ratio is currently 69.44%.
CPB has been the subject of several recent analyst reports. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and issued a $68.00 target price (up previously from $62.00) on shares of Campbell Soup in a research report on Friday, July 15th. Zacks Investment Research cut Campbell Soup from a “hold” rating to a “sell” rating in a research report on Tuesday, July 26th. Credit Suisse Group AG reaffirmed a “sell” rating and issued a $60.00 target price on shares of Campbell Soup in a research report on Thursday, July 28th. Deutsche Bank AG decreased their target price on Campbell Soup from $63.00 to $61.00 and set a “hold” rating for the company in a research report on Friday, August 26th. Finally, Royal Bank Of Canada decreased their target price on Campbell Soup from $62.00 to $58.00 and set a “sector perform” rating for the company in a research report on Friday, September 2nd. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $59.83.
In related news, VP William J. O’shea sold 13,000 shares of the company’s stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $57.74, for a total value of $750,620.00. Following the completion of the sale, the vice president now owns 28,952 shares in the company, valued at approximately $1,671,688.48. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jeff Dunn sold 8,459 shares of the company’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $56.24, for a total transaction of $475,734.16. Following the completion of the sale, the insider now owns 112,775 shares of the company’s stock, valued at approximately $6,342,466. The disclosure for this sale can be found here. 37.70% of the stock is currently owned by corporate insiders.
About Campbell Soup
Campbell Soup Company manufactures and markets food products. The Company’s segments include U.S. Simple Meals; Global Baking and Snacking; International Simple Meals and Beverages; U.S. Beverages, and Bolthouse and Foodservice. Its U.S. Simple Meals segment includes various products, such as Campbell’s condensed and ready-to-serve soups; Prego pasta sauces, and Pace Mexican sauces.
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