Two Sigma Advisers LP raised its stake in shares of Campbell Soup (NYSE:CPB) by 6.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,203,694 shares of the company’s stock after buying an additional 78,075 shares during the quarter. Two Sigma Advisers LP’s holdings in Campbell Soup were worth $57,910,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in CPB. Nationwide Fund Advisors raised 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 valued at $7,391,000 after buying an additional 103,734 shares during the last quarter. Victory Capital Management Inc. raised its stake in Campbell Soup by 4,381.8% during the third quarter. Victory Capital Management Inc. now owns 167,307 shares of the company’s stock valued at $7,833,000 after buying an additional 163,574 shares during the last quarter. Jennison Associates LLC purchased a new position in Campbell Soup during the third quarter valued at $1,849,000. Global X MANAGEMENT CO LLC raised its stake in Campbell Soup by 22.3% during the third quarter. Global X MANAGEMENT CO LLC now owns 13,407 shares of the company’s stock valued at $628,000 after buying an additional 2,443 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in Campbell Soup by 46.5% during the third quarter. BNP Paribas Arbitrage SA now owns 148,783 shares of the company’s stock valued at $6,966,000 after buying an additional 47,250 shares during the last quarter. Institutional investors and hedge funds own 50.21% of the company’s stock.
A number of research analysts have issued reports on the company. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $48.00 price objective (down previously from $50.00) on shares of Campbell Soup in a research note on Tuesday, February 20th. Wolfe Research assumed coverage on Campbell Soup in a research note on Friday, January 26th. They set a “market perform” rating for the company. Zacks Investment Research upgraded Campbell Soup from a “sell” rating to a “hold” rating in a research note on Tuesday, January 23rd. Morgan Stanley reduced their target price on Campbell Soup from $49.00 to $46.00 and set an “underweight” rating for the company in a report on Tuesday, February 20th. Finally, Piper Jaffray Companies lowered Campbell Soup from a “neutral” rating to an “underweight” rating and set a $59.00 target price for the company. in a report on Wednesday, February 28th. Seven research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. Campbell Soup currently has a consensus rating of “Hold” and a consensus price target of $50.27.
Shares of Campbell Soup (NYSE:CPB) opened at $44.20 on Thursday. The company has a quick ratio of 0.35, a current ratio of 0.64 and a debt-to-equity ratio of 1.15. Campbell Soup has a fifty-two week low of $41.78 and a fifty-two week high of $59.60. The company has a market capitalization of $13,208.67, a price-to-earnings ratio of 14.50, a P/E/G ratio of 2.68 and a beta of 0.38.
Campbell Soup (NYSE:CPB) last issued its quarterly earnings data on Friday, February 16th. The company reported $1.00 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.19. Campbell Soup had a return on equity of 54.10% and a net margin of 13.41%. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the previous year, the company posted $0.91 earnings per share. Campbell Soup’s revenue was up .4% compared to the same quarter last year. analysts forecast that Campbell Soup will post 3.1 EPS for the current fiscal year.
Campbell Soup declared that its board has authorized a stock buyback plan on Monday, December 18th that authorizes the company to buyback outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.
In related news, insider Edward Carolan sold 6,500 shares of Campbell Soup stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $48.15, for a total transaction of $312,975.00. Following the transaction, the insider now directly owns 41,506 shares in the company, valued at $1,998,513.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Randall W. Larrimore sold 2,242 shares of Campbell Soup stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $48.69, for a total value of $109,162.98. The disclosure for this sale can be found here. Insiders sold 15,284 shares of company stock valued at $741,399 in the last ninety days. 37.20% of the stock is currently owned by corporate insiders.
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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