Campbell Soup Co. (CPB) Stake Raised by Robeco Institutional Asset Management B.V.
Robeco Institutional Asset Management B.V. raised its position in Campbell Soup Co. (NYSE:CPB) by 11.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,064,412 shares of the company’s stock after buying an additional 107,486 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.34% of Campbell Soup worth $70,820,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Checchi Capital Advisers LLC increased its stake in Campbell Soup by 9.8% in the second quarter. Checchi Capital Advisers LLC now owns 1,798 shares of the company’s stock worth $120,000 after buying an additional 161 shares during the last quarter. Reynolds Capital Management LLC purchased a new stake in Campbell Soup during the first quarter worth approximately $223,000. Rehmann Capital Advisory Group purchased a new stake in Campbell Soup during the first quarter worth approximately $226,000. BKD Wealth Advisors LLC purchased a new stake in Campbell Soup during the second quarter worth approximately $230,000. Finally, Mn Services Vermogensbeheer B.V. purchased a new stake in Campbell Soup during the first quarter worth approximately $258,000. 43.99% of the stock is currently owned by hedge funds and other institutional investors.
Campbell Soup Co. (NYSE:CPB) traded up 0.59% during trading on Friday, reaching $54.70. The company had a trading volume of 2,026,879 shares. Campbell Soup Co. has a 12 month low of $47.77 and a 12 month high of $67.89. The stock has a 50 day moving average price of $57.68 and a 200 day moving average price of $61.81. The firm has a market capitalization of $16.84 billion, a price-to-earnings ratio of 30.22 and a beta of 0.31.
Campbell Soup (NYSE:CPB) last issued its quarterly earnings results on Thursday, September 1st. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by $0.04. Campbell Soup had a net margin of 7.07% and a return on equity of 59.50%. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same quarter last year, the business posted $0.43 earnings per share. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. On average, equities research analysts predict that Campbell Soup Co. will post $3.04 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Wednesday, October 12th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.56%. This is a boost from Campbell Soup’s previous quarterly dividend of $0.31. The ex-dividend date is Friday, October 7th. Campbell Soup’s payout ratio is presently 69.44%.
CPB has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Campbell Soup from a “hold” rating to a “sell” rating in a research report on Tuesday, August 30th. Credit Suisse Group AG reiterated a “sell” rating and set a $60.00 target price on shares of Campbell Soup in a research report on Thursday, July 28th. Deutsche Bank AG decreased their target price on Campbell Soup from $63.00 to $61.00 and set a “hold” rating on the stock in a research report on Friday, August 26th. Credit Agricole SA decreased their target price on Campbell Soup from $64.00 to $59.00 and set a “market perform” rating on the stock in a research report on Monday, September 12th. Finally, Goldman Sachs Group Inc. reiterated a “neutral” rating and set a $68.00 target price (up from $62.00) on shares of Campbell Soup in a research report on Friday, July 15th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $59.83.
In related news, insider Jeff Dunn sold 8,459 shares of Campbell Soup stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $56.24, for a total value of $475,734.16. Following the transaction, the insider now directly owns 112,775 shares in the company, valued at approximately $6,342,466. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP William J. O’shea sold 13,000 shares of Campbell Soup stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $57.74, for a total value of $750,620.00. Following the completion of the transaction, the vice president now owns 28,952 shares in the company, valued at $1,671,688.48. The disclosure for this sale can be found here. 37.70% of the stock is owned by corporate 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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