Cubist Systematic Strategies LLC purchased a new position in Campbell Soup (NYSE:CPB) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 11,100 shares of the company’s stock, valued at approximately $450,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. increased its position in shares of Campbell Soup by 1,609.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,564 shares of the company’s stock valued at $104,000 after purchasing an additional 2,414 shares during the period. IMA Wealth Inc. acquired a new position in shares of Campbell Soup during the 2nd quarter valued at $130,000. Jolley Asset Management LLC acquired a new position in shares of Campbell Soup during the 2nd quarter valued at $141,000. CSat Investment Advisory L.P. acquired a new position in shares of Campbell Soup during the 2nd quarter valued at $159,000. Finally, Tompkins Financial Corp increased its position in shares of Campbell Soup by 94.1% during 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. 54.99% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Luca Mignini bought 5,494 shares of the business’s stock in a transaction on Tuesday, October 2nd. The shares were bought at an average cost of $36.41 per share, for a total transaction of $200,036.54. Following the completion of the acquisition, the insider now directly owns 112,990 shares in the company, valued at $4,113,965.90. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 37.20% of the stock is owned by company insiders.
CPB opened at $37.10 on Friday. The firm has a market cap of $11.01 billion, a P/E ratio of 12.93, a PEG ratio of 2.53 and a beta of 0.24. Campbell Soup has a 1 year low of $32.63 and a 1 year high of $51.07. The company has a quick ratio of 0.31, a current ratio of 0.64 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. The firm had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Campbell Soup had a return on equity of 53.88% and a net margin of 3.01%. The business’s revenue for the quarter was up 33.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 earnings per share. As a group, analysts predict that Campbell Soup will post 2.46 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 29th. Shareholders of record on Friday, October 12th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, October 11th. This represents a $1.40 annualized dividend and a yield of 3.77%. Campbell Soup’s dividend payout ratio (DPR) is currently 48.78%.
CPB has been the topic of several research analyst reports. Deutsche Bank lowered their price target on Campbell Soup from $40.00 to $36.00 and set a “hold” rating on the stock in a research report on Friday, August 31st. ValuEngine raised Campbell Soup from a “strong sell” rating to a “sell” rating in a research note on Friday, September 7th. Wells Fargo & Co set a $42.00 price objective on Campbell Soup and gave the stock a “hold” rating in a research note on Monday, August 20th. Credit Suisse Group set a $36.00 price objective on Campbell Soup and gave the stock a “sell” rating in a research note on Friday, August 31st. Finally, Royal Bank of Canada raised their price objective on Campbell Soup to $43.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 23rd. Twelve investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Campbell Soup currently has a consensus rating of “Sell” and an average price target of $39.87.
Campbell Soup Profile
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.
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