Sompo Japan Nipponkoa Asset Management CO. LTD. cut its holdings in Campbell Soup (NYSE:CPB) by 4.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,940 shares of the company’s stock after selling 1,680 shares during the period. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in Campbell Soup were worth $1,207,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in CPB. Suntrust Banks Inc. bought a new position in Campbell Soup in the 1st quarter worth approximately $266,000. DnB Asset Management AS bought a new position in Campbell Soup in the 2nd quarter worth approximately $1,046,000. IFM Investors Pty Ltd boosted its holdings in Campbell Soup by 37.9% in the 2nd quarter. IFM Investors Pty Ltd now owns 8,857 shares of the company’s stock worth $359,000 after buying an additional 2,435 shares during the period. Pennsylvania Trust Co boosted its holdings in Campbell Soup by 30.6% in the 2nd quarter. Pennsylvania Trust Co now owns 12,659 shares of the company’s stock worth $513,000 after buying an additional 2,965 shares during the period. Finally, Gateway Investment Advisers LLC bought a new position in Campbell Soup in the 2nd quarter worth approximately $362,000. 54.69% of the stock is owned by institutional investors.
NYSE CPB opened at $38.97 on Friday. Campbell Soup has a 1 year low of $32.63 and a 1 year high of $51.07. The company has a debt-to-equity ratio of 5.83, a quick ratio of 0.31 and a current ratio of 0.64. The company has a market capitalization of $11.53 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 2.65 and a beta of 0.13.
The company also recently announced a quarterly dividend, which was paid on Monday, October 29th. Shareholders of record on Friday, October 12th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend was Thursday, October 11th. Campbell Soup’s dividend payout ratio is presently 48.78%.
CPB has been the subject of several analyst reports. Gabelli reaffirmed a “buy” rating on shares of Campbell Soup in a report on Monday, July 16th. Wells Fargo & Co set a $42.00 price objective on shares of Campbell Soup and gave the stock a “hold” rating in a report on Monday, August 20th. Deutsche Bank cut their price objective on shares of Campbell Soup from $40.00 to $36.00 and set a “hold” rating for the company in a report on Friday, August 31st. Zacks Investment Research raised shares of Campbell Soup from a “sell” rating to a “hold” rating in a report on Monday, August 27th. Finally, Royal Bank of Canada raised their price objective on shares of Campbell Soup to $43.00 and gave the stock a “sector perform” rating in a report on Thursday, August 23rd. Twelve research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Campbell Soup currently has an average rating of “Sell” and an average price target of $39.87.
In other news, insider Luca Mignini bought 5,494 shares of the stock in a transaction on Tuesday, October 2nd. The shares were acquired at an average cost of $36.41 per share, for a total transaction of $200,036.54. Following the purchase, the insider now directly owns 112,990 shares of the company’s stock, valued at approximately $4,113,965.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 37.20% of the company’s stock.
About Campbell Soup
Campbell Soup Company, together with its subsidiaries, manufactures and markets branded 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 products; Plum food and snack products; V8 juices and beverages; Campbell's tomato juices; and Pacific broth, soups, non-dairy beverages, and other simple meals.
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