New York State Common Retirement Fund Grows Stake in Campbell Soup Company (CPB)

New York State Common Retirement Fund increased its stake in shares of Campbell Soup Company (NYSE:CPB) by 1.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 396,100 shares of the company’s stock after purchasing an additional 6,000 shares during the period. New York State Common Retirement Fund owned approximately 0.13% of Campbell Soup worth $18,545,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CPB. Motco increased its holdings in Campbell Soup by 301.9% during the second quarter. Motco now owns 2,130 shares of the company’s stock valued at $111,000 after buying an additional 1,600 shares during the last quarter. First Personal Financial Services increased its holdings in Campbell Soup by 180.9% during the third quarter. First Personal Financial Services now owns 2,677 shares of the company’s stock valued at $125,000 after buying an additional 1,724 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Campbell Soup during the third quarter valued at approximately $175,000. Victory Capital Management Inc. increased its holdings in Campbell Soup by 6.1% during the second 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 during the last quarter. Finally, First Allied Advisory Services Inc. increased its holdings in Campbell Soup by 6.3% during the second quarter. First Allied Advisory Services Inc. now owns 3,847 shares of the company’s stock valued at $201,000 after buying an additional 227 shares during the last quarter. 46.33% of the stock is owned by hedge funds and other institutional investors.

Campbell Soup Company (NYSE:CPB) traded down $0.63 on Friday, hitting $48.56. 3,118,200 shares of the company’s stock were exchanged, compared to its average volume of 2,027,246. The company has a market capitalization of $14,786.86, a price-to-earnings ratio of 16.73, a P/E/G ratio of 3.74 and a beta of 0.40. Campbell Soup Company has a fifty-two week low of $44.99 and a fifty-two week high of $64.23. The company has a current ratio of 0.77, a quick ratio of 0.42 and a debt-to-equity ratio of 1.34.

Campbell Soup (NYSE:CPB) last issued its earnings results on Tuesday, November 21st. The company reported $0.92 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.97 by ($0.05). Campbell Soup had a return on equity of 56.88% and a net margin of 11.08%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter in the prior year, the company posted $1.00 EPS. Campbell Soup’s revenue was down 1.9% compared to the same quarter last year. equities research analysts expect that Campbell Soup Company will post 2.96 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, January 29th. Investors of record on Wednesday, January 10th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.88%. Campbell Soup’s dividend payout ratio is 48.95%.

In related news, insider Luca Mignini bought 4,300 shares of the company’s stock in a transaction that occurred on Wednesday, September 27th. The stock was purchased at an average price of $46.47 per share, for a total transaction of $199,821.00. Following the completion of the transaction, the insider now owns 88,178 shares in the company, valued at $4,097,631.66. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles R. Perrin sold 2,304 shares of the company’s stock in a transaction on Friday, October 6th. The stock was sold at an average price of $46.46, for a total transaction of $107,043.84. The disclosure for this sale can be found here. 37.20% of the stock is currently owned by corporate insiders.

A number of analysts have commented on CPB shares. Royal Bank of Canada set a $56.00 target price on shares of Campbell Soup and gave the company a “hold” rating in a report on Wednesday, October 25th. Goldman Sachs Group dropped their price target on shares of Campbell Soup from $49.00 to $45.00 and set a “hold” rating for the company in a research report on Sunday, September 3rd. UBS dropped their price target on shares of Campbell Soup from $46.00 to $42.00 and set a “sell” rating for the company in a research report on Thursday, November 9th. Credit Suisse Group set a $41.00 price target on shares of Campbell Soup and gave the stock a “sell” rating in a research report on Friday, November 24th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $47.00 price target (down from $52.00) on shares of Campbell Soup in a research report on Friday, September 1st. Seven investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Campbell Soup currently has a consensus rating of “Hold” and a consensus price target of $49.91.

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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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Institutional Ownership by Quarter for Campbell Soup (NYSE:CPB)

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