Stone Ridge Asset Management LLC acquired a new stake in shares of Campbell Soup (NYSE:CPB) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 38,063 shares of the company’s stock, valued at approximately $1,831,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Beutel Goodman & Co Ltd. bought a new position in Campbell Soup in the fourth quarter worth approximately $103,733,000. LSV Asset Management lifted its holdings in shares of Campbell Soup by 215.7% during the 4th quarter. LSV Asset Management now owns 3,095,193 shares of the company’s stock valued at $148,909,000 after purchasing an additional 2,114,693 shares during the last quarter. Schroder Investment Management Group lifted its holdings in shares of Campbell Soup by 29.7% during the 4th quarter. Schroder Investment Management Group now owns 4,619,380 shares of the company’s stock valued at $222,238,000 after purchasing an additional 1,058,752 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Campbell Soup by 16.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,493,192 shares of the company’s stock valued at $304,011,000 after purchasing an additional 897,314 shares during the last quarter. Finally, Hexavest Inc. lifted its holdings in shares of Campbell Soup by 15,248.8% during the 4th quarter. Hexavest Inc. now owns 733,675 shares of the company’s stock valued at $35,297,000 after purchasing an additional 728,895 shares during the last quarter. 50.19% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Luca Mignini bought 4,400 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was purchased at an average price of $45.53 per share, for a total transaction of $200,332.00. Following the completion of the purchase, the insider now owns 87,814 shares in the company, valued at approximately $3,998,171.42. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Carlos Barroso sold 4,300 shares of the business’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $48.86, for a total transaction of $210,098.00. Following the transaction, the senior vice president now owns 29,119 shares of the company’s stock, valued at approximately $1,422,754.34. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,784 shares of company stock valued at $428,424. Insiders own 37.20% of the company’s stock.
CPB stock traded down $1.23 on Wednesday, reaching $41.89. 2,732,051 shares of the company’s stock were exchanged, compared to its average volume of 3,030,068. The stock has a market cap of $13,106.46, a price-to-earnings ratio of 12.07, a price-to-earnings-growth ratio of 2.66 and a beta of 0.38. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.64 and a quick ratio of 0.35. Campbell Soup has a twelve month low of $40.99 and a twelve month high of $59.14.
Campbell Soup (NYSE:CPB) last released its quarterly earnings results on Friday, February 16th. The company reported $1.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.19. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.16 billion. Campbell Soup had a net margin of 13.41% and a return on equity of 54.10%. The business’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.91 EPS. sell-side analysts forecast that Campbell Soup will post 3.1 EPS for the current year.
Campbell Soup announced that its Board of Directors has approved a share repurchase plan on Monday, December 18th that allows the company to repurchase shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.
A number of equities analysts recently issued reports on the company. 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 research note on Tuesday, February 20th. Zacks Investment Research upgraded Campbell Soup from a “sell” rating to a “hold” rating in a research note on Tuesday, January 23rd. Royal Bank of Canada reaffirmed a “hold” rating and set a $53.00 price target (down from $55.00) on shares of Campbell Soup in a research report on Wednesday, November 22nd. Wolfe Research assumed coverage on Campbell Soup in a research report on Friday, January 26th. They set a “market perform” rating on the stock. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $50.00 price target on shares of Campbell Soup in a research report on Friday, December 15th. Seven equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. Campbell Soup has a consensus rating of “Hold” and an average target price of $50.27.
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Campbell Soup Company Profile
Campbell Soup Company, together with its subsidiaries, manufactures and markets food and beverage products. It operates through three segments: Americas Simple Meals and Beverages; Global Biscuits and Snacks; and Campbell Fresh. The Americas Simple Meals and Beverages segment engages in the retail and food service of Campbell's condensed and ready-to-serve soups; Swanson broth and stocks; Prego pasta sauces; Pace Mexican sauces; Campbell's gravies, pastas, beans, and dinner sauces; Swanson canned poultry; Plum food and snacks; V8 juices and beverages; and Campbell's tomato juices.
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