Gabelli Funds LLC lifted its stake in Campbell Soup (NYSE:CPB – Free Report) by 22.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 190,500 shares of the company’s stock after purchasing an additional 35,000 shares during the quarter. Gabelli Funds LLC’s holdings in Campbell Soup were worth $8,708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also made changes to their positions in the stock. Edgestream Partners L.P. purchased a new stake in shares of Campbell Soup in the second quarter worth approximately $292,000. Commonwealth Equity Services LLC raised its position in Campbell Soup by 0.6% during the second quarter. Commonwealth Equity Services LLC now owns 69,210 shares of the company’s stock valued at $3,164,000 after acquiring an additional 388 shares in the last quarter. Bedel Financial Consulting Inc. raised its position in Campbell Soup by 5.8% during the second quarter. Bedel Financial Consulting Inc. now owns 4,982 shares of the company’s stock valued at $228,000 after acquiring an additional 273 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Campbell Soup by 7.1% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 117,289 shares of the company’s stock valued at $5,361,000 after acquiring an additional 7,761 shares in the last quarter. Finally, Wealth Quarterback LLC raised its position in Campbell Soup by 9.2% during the second quarter. Wealth Quarterback LLC now owns 11,521 shares of the company’s stock valued at $527,000 after acquiring an additional 972 shares in the last quarter. 50.73% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities analysts recently weighed in on the stock. TD Cowen assumed coverage on shares of Campbell Soup in a research report on Wednesday, September 13th. They set a “market perform” rating and a $45.00 price objective on the stock. StockNews.com assumed coverage on shares of Campbell Soup in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Stifel Nicolaus cut their price objective on shares of Campbell Soup from $48.00 to $45.00 and set a “hold” rating on the stock in a research report on Friday, September 1st. TheStreet lowered shares of Campbell Soup from a “b-” rating to a “c+” rating in a research report on Thursday, August 24th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Campbell Soup from $49.00 to $47.00 and set a “neutral” rating on the stock in a research report on Monday, August 21st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Campbell Soup currently has a consensus rating of “Hold” and an average target price of $47.36.
Insiders Place Their Bets
In other Campbell Soup news, VP Stanley Polomski sold 8,000 shares of Campbell Soup stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $43.35, for a total transaction of $346,800.00. Following the sale, the vice president now owns 33,162 shares in the company, valued at $1,437,572.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 20.64% of the company’s stock.
Campbell Soup Trading Down 0.4 %
Shares of Campbell Soup stock opened at $40.73 on Tuesday. The company’s fifty day simple moving average is $40.77 and its 200-day simple moving average is $44.54. The company has a market cap of $12.12 billion, a price-to-earnings ratio of 14.24, a PEG ratio of 3.20 and a beta of 0.37. The company has a current ratio of 0.93, a quick ratio of 0.35 and a debt-to-equity ratio of 1.23. Campbell Soup has a 1 year low of $37.94 and a 1 year high of $57.78.
Campbell Soup (NYSE:CPB – Get Free Report) last posted its quarterly earnings results on Thursday, August 31st. The company reported $0.50 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.50. Campbell Soup had a net margin of 9.17% and a return on equity of 25.14%. The firm had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the previous year, the company earned $0.56 earnings per share. The business’s revenue was up 5.7% compared to the same quarter last year. As a group, sell-side analysts expect that Campbell Soup will post 3.06 EPS for the current year.
Campbell Soup Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, October 30th. Shareholders of record on Thursday, October 5th were paid a dividend of $0.37 per share. The ex-dividend date was Wednesday, October 4th. This represents a $1.48 dividend on an annualized basis and a yield of 3.63%. Campbell Soup’s dividend payout ratio is currently 51.75%.
About Campbell Soup
Campbell Soup Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States and internationally. The company operates through Meals & Beverages and Snacks segments. The Meals & Beverages segment engages in the retail and foodservice businesses in the United States and Canada.
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