Campbell Soup Co. (CPB) Insider Edward Carolan Sells 2,400 Shares
Campbell Soup Co. (NYSE:CPB) insider Edward Carolan sold 2,400 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $54.35, for a total transaction of $130,440.00. Following the completion of the sale, the insider now owns 49,038 shares in the company, valued at approximately $2,665,215.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Campbell Soup Co. (NYSE:CPB) opened at 53.74 on Thursday. The stock’s 50 day moving average is $57.12 and its 200-day moving average is $61.58. Campbell Soup Co. has a one year low of $47.77 and a one year high of $67.89. The firm has a market capitalization of $16.55 billion, a PE ratio of 29.69 and a beta of 0.37.
Campbell Soup (NYSE:CPB) last announced its quarterly earnings data on Thursday, September 1st. The company reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ 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 business earned $1.69 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same period last year, the company posted $0.43 EPS. Campbell Soup’s revenue for the quarter was down .4% on a year-over-year basis. On average, analysts anticipate that Campbell Soup Co. will post $3.04 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Wednesday, October 12th will be paid a $0.35 dividend. This is a boost from Campbell Soup’s previous quarterly dividend of $0.31. The ex-dividend date is Friday, October 7th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.61%. Campbell Soup’s dividend payout ratio is 69.44%.
Several large investors have recently made changes to their positions in the stock. Van ECK Associates Corp boosted its stake in shares of Campbell Soup by 38.6% in the second quarter. Van ECK Associates Corp now owns 1,740 shares of the company’s stock worth $116,000 after buying an additional 485 shares during the period. Checchi Capital Advisers LLC boosted its stake in shares of 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 period. Mizuho Asset Management Co. Ltd. boosted its stake in shares of Campbell Soup by 69.7% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,388 shares of the company’s stock worth $159,000 after buying an additional 981 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in shares of Campbell Soup by 38.1% in the second quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,900 shares of the company’s stock worth $193,000 after buying an additional 800 shares during the period. Finally, Mercer Capital Advisers Inc. boosted its stake in shares of Campbell Soup by 1.8% in the second quarter. Mercer Capital Advisers Inc. now owns 2,958 shares of the company’s stock worth $197,000 after buying an additional 53 shares during the period. 43.99% of the stock is owned by institutional investors.
A number of analysts have weighed in on the stock. Wells Fargo & Co. set a $59.50 target price on shares of Campbell Soup and gave the company a “hold” rating in a research report on Sunday, September 4th. TheStreet lowered shares of Campbell Soup from a “buy” rating to a “hold” rating in a research report on Thursday, September 1st. Zacks Investment Research lowered shares of Campbell Soup from a “hold” rating to a “sell” rating in a research report on Tuesday, July 26th. Goldman Sachs Group Inc. restated a “neutral” rating and issued a $68.00 target price (up previously from $62.00) on shares of Campbell Soup in a research report on Friday, July 15th. Finally, Credit Suisse Group AG restated a “sell” rating and issued a $60.00 target price on shares of Campbell Soup in a research report on Thursday, July 28th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has given a buy rating to the company’s stock. Campbell Soup presently has a consensus rating of “Hold” and an average target price of $59.83.
Campbell Soup Company Profile
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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