Campbell Soup Company (NYSE:CPB) Director Randall W. Larrimore sold 2,242 shares of the firm’s stock in a transaction dated Thursday, December 27th. The stock was sold at an average price of $48.69, for a total value of $109,162.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Campbell Soup Company (NYSE:CPB) opened at $46.72 on Thursday. Campbell Soup Company has a 1-year low of $44.99 and a 1-year high of $64.23. The firm has a market capitalization of $14,245.77, a PE ratio of 16.34, a price-to-earnings-growth ratio of 3.73 and a beta of 0.39. The company has a quick ratio of 0.39, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.
Campbell Soup (NYSE:CPB) last released its quarterly earnings results on Tuesday, November 21st. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.05). Campbell Soup had a net margin of 11.08% and a return on equity of 56.88%. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.17 billion. During the same period in the previous year, the business earned $1.00 EPS. The business’s revenue was down 1.9% on a year-over-year basis. equities research analysts forecast that Campbell Soup Company will post 2.95 earnings per share for the current year.
Campbell Soup announced that its board has authorized a stock repurchase plan on Monday, December 18th that allows the company to repurchase outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 29th. Shareholders of record on Wednesday, January 10th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $1.40 annualized dividend and a dividend yield of 3.00%. Campbell Soup’s payout ratio is currently 48.95%.
Several research analysts have commented on the company. Royal Bank of Canada cut their target price on Campbell Soup from $56.00 to $55.00 and set a “sector perform” rating for the company in a research note on Monday, November 20th. Citigroup restated a “neutral” rating and issued a $54.00 target price (up previously from $50.00) on shares of Campbell Soup in a research note on Wednesday, December 20th. JPMorgan Chase & Co. restated a “hold” rating and issued a $50.00 target price on shares of Campbell Soup in a research note on Friday, December 15th. Piper Jaffray Companies restated a “neutral” rating and issued a $50.00 target price (down previously from $56.00) on shares of Campbell Soup in a research note on Monday, September 11th. Finally, Credit Suisse Group set a $41.00 target price on Campbell Soup and gave the stock a “sell” rating in a research note on Friday, November 24th. Seven equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Campbell Soup has a consensus rating of “Hold” and an average price target of $49.83.
Several large investors have recently added to or reduced their stakes in CPB. Schwab Charles Investment Management Inc. raised its holdings in shares of Campbell Soup by 38.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 850,980 shares of the company’s stock valued at $44,379,000 after acquiring an additional 236,417 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Campbell Soup by 6.1% during the 2nd quarter. Victory Capital Management Inc. now owns 3,733 shares of the company’s stock valued at $195,000 after buying an additional 213 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in shares of Campbell Soup by 10.8% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 34,984 shares of the company’s stock valued at $1,824,000 after buying an additional 3,413 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Campbell Soup by 8.2% during the 2nd quarter. Pacer Advisors Inc. now owns 4,573 shares of the company’s stock valued at $238,000 after buying an additional 348 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Campbell Soup by 211.4% during the 2nd quarter. Principal Financial Group Inc. now owns 943,109 shares of the company’s stock valued at $49,184,000 after buying an additional 640,237 shares in the last quarter. 46.04% of the stock is currently owned by hedge funds and other institutional investors.
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About Campbell Soup
Campbell Soup Company is a food company, which manufactures and markets food products. The Company’s segments include Americas Simple Meals and Beverages; Global Biscuits and Snacks, and Campbell Fresh. The Americas Simple Meals and Beverages segment includes the retail and food service channel businesses.
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