Campbell Soup Co. (NYSE:CPB) insider Edward Carolan sold 2,400 shares of the business’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $54.35, for a total transaction of $130,440.00. Following the transaction, the insider now owns 49,038 shares in the company, valued at $2,665,215.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Campbell Soup Co. (NYSE:CPB) opened at 53.55 on Friday. Campbell Soup Co. has a 52 week low of $47.77 and a 52 week high of $67.89. The company’s 50-day moving average is $56.93 and its 200 day moving average is $61.52. The stock has a market cap of $16.49 billion, a PE ratio of 29.59 and a beta of 0.37.
Campbell Soup (NYSE:CPB) last announced its quarterly earnings data on Thursday, September 1st. The company reported $0.46 EPS for the quarter, missing the Thomson Reuters’ 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 had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same period last year, the company posted $0.43 earnings per share. The business’s revenue for the quarter was down .4% compared to the same quarter last year. On average, analysts expect that Campbell Soup Co. will post $3.04 earnings per share 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 dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.60%. This is an increase from Campbell Soup’s previous quarterly dividend of $0.31. The ex-dividend date is Friday, October 7th. Campbell Soup’s dividend payout ratio is 69.44%.
Several research firms recently weighed in on CPB. TheStreet cut shares of Campbell Soup from a “buy” rating to a “hold” rating in a report on Thursday, September 1st. Wells Fargo & Co. set a $59.50 price target on shares of Campbell Soup and gave the stock a “hold” rating in a report on Sunday, September 4th. RBC Capital Markets restated a “sector perform” rating and set a $58.00 price target (down from $62.00) on shares of Campbell Soup in a report on Sunday, September 4th. Citigroup Inc. cut their price target on shares of Campbell Soup from $67.00 to $63.00 and set a “neutral” rating on the stock in a report on Friday, September 2nd. Finally, Royal Bank Of Canada cut their price target on shares of Campbell Soup from $62.00 to $58.00 and set a “sector perform” rating on the stock in a report on Friday, September 2nd. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $59.83.
Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Campbell Soup by 1.9% in the second quarter. Vanguard Group Inc. now owns 12,360,297 shares of the company’s stock valued at $822,331,000 after buying an additional 225,113 shares during the period. State Street Corp increased its stake in shares of Campbell Soup by 5.2% in the first quarter. State Street Corp now owns 8,331,473 shares of the company’s stock worth $531,469,000 after buying an additional 412,677 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of Campbell Soup by 1.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 5,615,864 shares of the company’s stock worth $373,623,000 after buying an additional 97,689 shares during the last quarter. BlackRock Fund Advisors increased its stake in shares of Campbell Soup by 30.1% in the second quarter. BlackRock Fund Advisors now owns 4,693,665 shares of the company’s stock worth $312,270,000 after buying an additional 1,087,074 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Campbell Soup by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 4,336,099 shares of the company’s stock worth $288,480,000 after buying an additional 16,796 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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