Traders Sell Campbell Soup Co. (CPB) on Strength Following Insider Selling
Traders sold shares of Campbell Soup Co. (NYSE:CPB) on strength during trading hours on Wednesday after an insider sold shares in the company. $12.65 million flowed into the stock on the tick-up and $55.46 million flowed out of the stock on the tick-down, for a money net flow of $42.81 million out of the stock. Of all equities tracked, Campbell Soup had the 0th highest net out-flow for the day. Campbell Soup traded up $0.09 for the day and closed at $53.74Specifically, VP William J. O’shea sold 13,000 shares of the business’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 sale, the vice president now owns 28,952 shares in the company, valued at approximately $1,671,688.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Edward Carolan sold 2,400 shares of the business’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $54.35, for a total value of $130,440.00. Following the sale, the insider now owns 49,038 shares of the company’s stock, valued at approximately $2,665,215.30. The disclosure for this sale can be found here. 37.70% of the stock is owned by company insiders.
A number of analysts have recently issued reports on CPB shares. Zacks Investment Research cut Campbell Soup from a “hold” rating to a “sell” rating in a 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 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 for the company in a 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 for the company in a report on Monday, September 12th. Finally, Goldman Sachs Group Inc. restated a “neutral” rating and issued a $68.00 price target (up previously from $62.00) on shares of Campbell Soup in a report on Friday, July 15th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $59.83.
The company has a market capitalization of $16.55 billion, a PE ratio of 29.69 and a beta of 0.37. The company has a 50-day moving average price of $57.12 and a 200 day moving average price of $61.58.
Campbell Soup (NYSE:CPB) last issued its quarterly earnings data on Thursday, September 1st. The company reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by $0.04. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.69 billion. Campbell Soup had a net margin of 7.07% and a return on equity of 59.50%. The business’s revenue was down .4% on a year-over-year basis. During the same period in the prior year, the company posted $0.43 EPS. Analysts anticipate that Campbell Soup Co. will post $3.04 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Wednesday, October 12th will be issued a dividend of $0.35 per share. This is a positive change 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 currently 69.44%.
Several hedge funds and other institutional investors have recently modified their holdings of CPB. Van ECK Associates Corp raised its position 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 in the last quarter. Checchi Capital Advisers LLC raised 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 period. Mizuho Asset Management Co. Ltd. raised its stake in 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. raised its stake in 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. raised its stake in 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 currently owned by institutional investors and hedge funds.
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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