Rhumbline Advisers lifted its stake in Campbell Soup (NYSE:CPB) by 2.3% during the 4th quarter, Holdings Channel reports. The fund owned 400,604 shares of the company’s stock after buying an additional 9,015 shares during the period. Rhumbline Advisers’ holdings in Campbell Soup were worth $19,273,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in CPB. Assenagon Asset Management S.A. acquired a new stake in shares of Campbell Soup in the third quarter worth $1,714,000. Meeder Asset Management Inc. acquired a new stake in shares of Campbell Soup in the third quarter worth $175,000. Strs Ohio grew its stake in shares of Campbell Soup by 7.4% in the third quarter. Strs Ohio now owns 25,233 shares of the company’s stock worth $1,181,000 after acquiring an additional 1,747 shares during the last quarter. Nationwide Fund Advisors boosted its stake in Campbell Soup by 191.7% during the third quarter. Nationwide Fund Advisors now owns 157,856 shares of the company’s stock worth $7,391,000 after buying an additional 103,734 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in Campbell Soup by 15.7% during the third quarter. First Trust Advisors LP now owns 431,245 shares of the company’s stock worth $20,191,000 after buying an additional 58,407 shares in the last quarter. Institutional investors and hedge funds own 49.17% of the company’s stock.
A number of equities research analysts have weighed in on CPB shares. Citigroup upgraded shares of Campbell Soup from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $45.51 to $57.00 in a research note on Tuesday, January 16th. JPMorgan Chase & Co. reiterated a “hold” rating and set a $50.00 price target on shares of Campbell Soup in a research note on Friday, December 15th. Piper Jaffray Companies set a $49.00 price target on shares of Campbell Soup and gave the stock a “hold” rating in a research note on Tuesday, November 28th. Royal Bank of Canada reiterated a “hold” rating and set a $53.00 price target (down previously from $55.00) on shares of Campbell Soup in a research note on Wednesday, November 22nd. Finally, Zacks Investment Research upgraded shares of Campbell Soup from a “sell” rating to a “hold” rating in a research note on Tuesday, January 23rd. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $49.36.
In other Campbell Soup news, Director Randall W. Larrimore sold 2,242 shares of Campbell Soup stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $48.69, for a total transaction of $109,162.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Luca Mignini acquired 4,400 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were bought at an average cost of $45.53 per share, with a total value of $200,332.00. Following the completion of the acquisition, the insider now owns 87,814 shares of the company’s stock, valued at approximately $3,998,171.42. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 15,284 shares of company stock valued at $741,399. Company insiders own 37.20% of the company’s stock.
Campbell Soup (CPB) opened at $44.12 on Friday. The stock has a market capitalization of $13,262.78, a price-to-earnings ratio of 14.56, a price-to-earnings-growth ratio of 3.13 and a beta of 0.32. Campbell Soup has a twelve month low of $42.82 and a twelve month high of $59.94. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.39 and a current ratio of 0.64.
Campbell Soup (NYSE:CPB) last issued its quarterly earnings data on Friday, February 16th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.19. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Campbell Soup had a return on equity of 54.10% and a net margin of 13.41%. The business’s revenue was up .4% on a year-over-year basis. During the same period last year, the business earned $0.91 earnings per share. equities research analysts anticipate that Campbell Soup will post 3.1 EPS for the current year.
Campbell Soup declared that its Board of Directors has initiated a share buyback plan on Monday, December 18th that authorizes the company to buyback shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.
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Campbell Soup Profile
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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