PGGM Investments Has $10,230,000 Position in Campbell Soup Co. (CPB)
PGGM Investments raised its stake in shares of Campbell Soup Co. (NYSE:CPB) by 0.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 153,770 shares of the company’s stock after buying an additional 96 shares during the period. PGGM Investments’ holdings in Campbell Soup were worth $10,230,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Checchi Capital Advisers LLC boosted its position in Campbell Soup by 9.8% in the second quarter. Checchi Capital Advisers LLC now owns 1,798 shares of the company’s stock valued at $120,000 after buying an additional 161 shares during the last quarter. Mercer Capital Advisers Inc. boosted its position in Campbell Soup by 1.8% in the second quarter. Mercer Capital Advisers Inc. now owns 2,958 shares of the company’s stock valued at $197,000 after buying an additional 53 shares during the last quarter. Reynolds Capital Management LLC purchased a new position in Campbell Soup during the first quarter valued at $223,000. Rehmann Capital Advisory Group purchased a new position in Campbell Soup during the first quarter valued at $226,000. Finally, BKD Wealth Advisors LLC purchased a new position in Campbell Soup during the second quarter valued at $230,000. 43.99% of the stock is currently owned by institutional investors and hedge funds.
Campbell Soup Co. (NYSE:CPB) traded up 0.59% on Friday, reaching $54.70. The company had a trading volume of 2,026,879 shares. The company’s 50-day moving average price is $57.68 and its 200 day moving average price is $61.81. Campbell Soup Co. has a 1-year low of $47.77 and a 1-year high of $67.89. The firm has a market capitalization of $16.84 billion, a P/E ratio of 30.22 and a beta of 0.31.
Campbell Soup (NYSE:CPB) last issued its quarterly earnings data on Thursday, September 1st. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by $0.04. The firm earned $1.69 billion during the quarter, compared to analyst estimates of $1.69 billion. Campbell Soup had a return on equity of 59.50% and a net margin of 7.07%. The company’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the company posted $0.43 EPS. On average, equities analysts forecast that Campbell Soup Co. will post $3.04 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Wednesday, October 12th will be given a $0.35 dividend. The ex-dividend date is Friday, October 7th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.56%. This is an increase from Campbell Soup’s previous quarterly dividend of $0.31. Campbell Soup’s dividend payout ratio is 69.44%.
Several research firms have recently weighed in on CPB. Wells Fargo & Co. set a $59.50 price target on Campbell Soup and gave the company a “hold” rating in a report on Sunday, September 4th. TheStreet cut Campbell Soup from a “buy” rating to a “hold” rating in a report on Thursday, September 1st. Zacks Investment Research cut Campbell Soup from a “hold” rating to a “sell” rating in a report on Tuesday, July 26th. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and issued a $68.00 target price (up from $62.00) on shares of Campbell Soup in a report on Friday, July 15th. Finally, Credit Suisse Group AG reaffirmed a “sell” rating and issued a $60.00 target price on shares of Campbell Soup in a report on Thursday, July 28th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $59.83.
In other Campbell Soup news, insider Carlos Barroso sold 1,600 shares of the company’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $57.68, for a total value of $92,288.00. Following the completion of the transaction, the insider now owns 46,888 shares in the company, valued at $2,704,499.84. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP William J. O’shea sold 13,000 shares of the company’s stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $57.74, for a total transaction of $750,620.00. Following the completion of the transaction, the vice president now owns 28,952 shares of the company’s stock, valued at approximately $1,671,688.48. The disclosure for this sale can be found here. 37.70% of the stock is currently owned by company insiders.
About Campbell Soup
Campbell Soup Company manufactures and markets food products. The Company’s segments include U.S. Simple Meals; Global Baking and Snacking; International Simple Meals and Beverages; U.S. Beverages, and Bolthouse and Foodservice. Its U.S. Simple Meals segment includes various products, such as Campbell’s condensed and ready-to-serve soups; Prego pasta sauces, and Pace Mexican sauces.
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