Traders sold shares of Campbell Soup Co. (NYSE:CPB) on strength during trading on Wednesday following insider selling activity. $12.65 million flowed into the stock on the tick-up and $55.46 million flowed out of the stock on the tick-down, for a money net flow of $42.81 million out of the stock. Of all stocks tracked, Campbell Soup had the 13th highest net out-flow for the day. Campbell Soup traded up $0.09 for the day and closed at $53.74Specifically, insider Carlos Barroso sold 1,600 shares of Campbell Soup stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $57.68, for a total transaction of $92,288.00. Following the completion of the sale, the insider now owns 46,888 shares in the company, valued at approximately $2,704,499.84. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP William J. O’shea sold 13,000 shares of Campbell Soup stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $57.74, for a total value of $750,620.00. Following the sale, the vice president now owns 28,952 shares of the company’s stock, valued at approximately $1,671,688.48. The disclosure for this sale can be found here. Corporate insiders own 37.70% of the company’s stock.
A number of research firms recently commented on CPB. Credit Suisse Group AG reiterated a “sell” rating and set a $60.00 price objective on shares of Campbell Soup in a research report on Thursday, July 28th. TheStreet cut Campbell Soup from a “buy” rating to a “hold” rating in a research report on Thursday, September 1st. Goldman Sachs Group Inc. reiterated a “neutral” rating and set a $68.00 price objective (up previously from $62.00) on shares of Campbell Soup in a research report on Friday, July 15th. Credit Agricole SA lowered their price target on Campbell Soup from $64.00 to $59.00 and set a “market perform” rating for the company in a report on Monday, September 12th. Finally, Zacks Investment Research upgraded Campbell Soup from a “sell” rating to a “hold” rating in a report on Monday, September 19th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $59.83.
The stock’s 50-day moving average price is $57.30 and its 200 day moving average price is $61.63. The firm has a market cap of $16.55 billion, a P/E ratio of 29.69 and a beta of 0.37.
Campbell Soup (NYSE:CPB) last issued its earnings results on Thursday, September 1st. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.50 by $0.04. Campbell Soup had a return on equity of 59.50% and a net margin of 7.07%. The firm earned $1.69 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same period in the previous year, the company earned $0.43 earnings per share. The business’s revenue for the quarter was down .4% on a year-over-year basis. On average, equities research analysts anticipate that Campbell Soup Co. will post $3.04 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Wednesday, October 12th will be given a $0.35 dividend. This is a positive change from Campbell Soup’s previous quarterly dividend of $0.31. This represents a $1.40 annualized dividend and a yield of 2.61%. The ex-dividend date is Friday, October 7th. Campbell Soup’s dividend payout ratio is presently 69.44%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Van ECK Associates Corp raised its position in shares of Campbell Soup by 38.6% in the second quarter. Van ECK Associates Corp now owns 1,740 shares of the company’s stock valued at $116,000 after buying an additional 485 shares during the last quarter. Checchi Capital Advisers LLC raised its position in shares of Campbell Soup by 9.8% in the second quarter. Checchi Capital Advisers LLC now owns 1,798 shares of the company’s stock valued at $120,000 after buying an additional 161 shares during the last quarter. Mizuho Asset Management Co. Ltd. raised its position in shares of Campbell Soup by 69.7% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,388 shares of the company’s stock valued at $159,000 after buying an additional 981 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. raised its position in shares of Campbell Soup by 38.1% in the second quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,900 shares of the company’s stock valued at $193,000 after buying an additional 800 shares during the last quarter. Finally, Mercer Capital Advisers Inc. raised its position in shares of Campbell Soup by 1.8% in the second quarter. Mercer Capital Advisers Inc. now owns 2,958 shares of the company’s stock valued at $197,000 after buying an additional 53 shares during the last quarter. 43.99% of the stock is currently owned by institutional investors.
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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