Louisiana State Employees Retirement System lowered its position in Campbell Soup Co. (NYSE:CPB) by 1.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,800 shares of the company’s stock after selling 200 shares during the period. Louisiana State Employees Retirement System’s holdings in Campbell Soup were worth $785,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Destination Wealth Management increased its stake in shares of Campbell Soup by 58.8% in the second quarter. Destination Wealth Management now owns 29,778 shares of the company’s stock worth $1,981,000 after buying an additional 11,024 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Campbell Soup during the second quarter worth about $24,817,000. MSI Financial Services Inc increased its stake in shares of Campbell Soup by 54.0% in the second quarter. MSI Financial Services Inc now owns 16,371 shares of the company’s stock worth $1,090,000 after buying an additional 5,743 shares in the last quarter. Financial Architects Inc increased its stake in shares of Campbell Soup by 4.3% in the second quarter. Financial Architects Inc now owns 6,866 shares of the company’s stock worth $457,000 after buying an additional 282 shares in the last quarter. Finally, First Niagara Bank increased its stake in shares of Campbell Soup by 17.7% in the second quarter. First Niagara Bank now owns 9,676 shares of the company’s stock worth $643,000 after buying an additional 1,454 shares in the last quarter. Institutional investors and hedge funds own 43.99% of the company’s stock.
Campbell Soup Co. (NYSE:CPB) traded up 0.60% during midday trading on Friday, hitting $53.87. 1,987,718 shares of the stock traded hands. The company has a market cap of $16.59 billion, a PE ratio of 29.76 and a beta of 0.37. The company’s 50-day moving average is $56.73 and its 200-day moving average is $61.45. Campbell Soup Co. has a one year low of $47.77 and a one year high of $67.89.
Campbell Soup (NYSE:CPB) last posted its quarterly earnings data on Thursday, September 1st. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by $0.04. The firm earned $1.69 billion during the quarter, compared to analyst estimates of $1.69 billion. Campbell Soup had a net margin of 7.07% and a return on equity of 59.50%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.43 EPS. Equities research analysts expect 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. Stockholders of record on Wednesday, October 12th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Friday, October 7th. This is a positive change from Campbell Soup’s previous quarterly dividend of $0.31. Campbell Soup’s payout ratio is currently 69.44%.
A number of analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Campbell Soup from a “sell” rating to a “hold” rating in a report on Monday, September 26th. Argus downgraded shares of Campbell Soup from a “buy” rating to a “hold” rating and raised their price target for the stock from $47.77 to $55.38 in a report on Monday, September 19th. Credit Agricole SA lowered their price objective on shares of Campbell Soup from $64.00 to $59.00 and set a “market perform” rating for the company in a research report on Monday, September 12th. Wells Fargo & Co. set a $59.50 price objective on shares of Campbell Soup and gave the stock a “hold” rating in a research report on Sunday, September 4th. Finally, RBC Capital Markets reaffirmed a “sector perform” rating and set a $58.00 price objective (down previously from $62.00) on shares of Campbell Soup in a research report on Sunday, September 4th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $59.83.
In related news, insider Jeff Dunn sold 8,459 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 112,775 shares of the company’s stock, valued at $6,342,466. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP William J. O’shea sold 13,000 shares of the company’s stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $57.74, for a total transaction of $750,620.00. Following the transaction, the vice president now directly 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. 37.70% of the stock is currently owned by insiders.
Campbell Soup Company Profile
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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