Baird Financial Group Inc. Has $3.54 Million Stake in Campbell Soup (CPB)

Baird Financial Group Inc. lifted its stake in shares of Campbell Soup (NYSE:CPB) by 11.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 87,190 shares of the company’s stock after purchasing an additional 8,613 shares during the period. Baird Financial Group Inc.’s holdings in Campbell Soup were worth $3,535,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CPB. Benjamin F. Edwards & Company Inc. boosted its holdings in Campbell Soup by 1,609.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,564 shares of the company’s stock worth $104,000 after buying an additional 2,414 shares during the period. IMA Wealth Inc. bought a new position in Campbell Soup in the 2nd quarter valued at $130,000. Jolley Asset Management LLC bought a new position in Campbell Soup in the 2nd quarter valued at $141,000. Tompkins Financial Corp boosted its holdings in Campbell Soup by 94.1% in the 2nd quarter. Tompkins Financial Corp now owns 4,145 shares of the company’s stock valued at $168,000 after purchasing an additional 2,010 shares during the period. Finally, Intact Investment Management Inc. bought a new position in Campbell Soup in the 1st quarter valued at $217,000. Institutional investors own 54.99% of the company’s stock.

In related news, insider Luca Mignini bought 5,494 shares of the business’s stock in a transaction dated Tuesday, October 2nd. The shares were purchased at an average price of $36.41 per share, with a total value of $200,036.54. Following the purchase, the insider now owns 112,990 shares of the company’s stock, valued at approximately $4,113,965.90. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 37.20% of the company’s stock.

Shares of CPB stock traded up $0.04 during mid-day trading on Friday, reaching $37.23. The stock had a trading volume of 7,036,142 shares, compared to its average volume of 4,043,082. Campbell Soup has a 52-week low of $32.63 and a 52-week high of $51.07. The stock has a market capitalization of $11.01 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 2.53 and a beta of 0.24. The company has a current ratio of 0.64, a quick ratio of 0.31 and a debt-to-equity ratio of 5.83.

Campbell Soup (NYSE:CPB) last released its quarterly earnings data on Thursday, August 30th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Campbell Soup had a net margin of 3.01% and a return on equity of 53.88%. The firm had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the previous year, the company earned $0.52 earnings per share. The company’s revenue for the quarter was up 33.4% compared to the same quarter last year. Equities analysts predict that Campbell Soup will post 2.46 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 29th. Stockholders of record on Friday, October 12th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date of this dividend is Thursday, October 11th. Campbell Soup’s payout ratio is 48.78%.

Several research analysts have commented on CPB shares. Zacks Investment Research downgraded shares of Campbell Soup from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 19th. Credit Suisse Group set a $32.00 price objective on shares of Campbell Soup and gave the stock a “sell” rating in a report on Friday, July 13th. Gabelli reaffirmed a “buy” rating on shares of Campbell Soup in a report on Monday, July 16th. JPMorgan Chase & Co. downgraded shares of Campbell Soup from a “neutral” rating to an “underweight” rating and set a $48.00 price objective for the company. in a report on Friday, August 10th. Finally, Piper Jaffray Companies set a $35.00 price objective on shares of Campbell Soup and gave the stock a “sell” rating in a report on Tuesday, August 14th. Twelve equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Campbell Soup currently has a consensus rating of “Sell” and a consensus target price of $39.87.

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; and Campbell's tomato juices in the United States, Canada, and Latin America.

See Also: Compound Annual Growth Rate (CAGR)

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

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