Chevy Chase Trust Holdings Inc. Has $9,031,000 Position in Campbell Soup Co. (CPB)
Chevy Chase Trust Holdings Inc. increased its position in shares of Campbell Soup Co. (NYSE:CPB) by 5.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 165,098 shares of the company’s stock after buying an additional 9,088 shares during the period. Chevy Chase Trust Holdings Inc. owned 0.05% of Campbell Soup worth $9,031,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the stock. Macquarie Group Ltd. raised its stake in Campbell Soup by 94.3% in the second quarter. Macquarie Group Ltd. now owns 188,917 shares of the company’s stock worth $12,569,000 after buying an additional 91,685 shares during the last quarter. Williams Jones & Associates LLC bought a new stake in Campbell Soup during the second quarter worth approximately $1,191,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Campbell Soup during the second quarter worth approximately $482,000. Kentucky Retirement Systems bought a new stake in Campbell Soup during the second quarter worth approximately $1,014,000. Finally, Mason Street Advisors LLC bought a new stake in Campbell Soup during the second quarter worth approximately $1,607,000. 42.26% of the stock is currently owned by institutional investors and hedge funds.
Campbell Soup Co. (NYSE:CPB) traded down 0.26% during midday trading on Monday, reaching $57.37. The company’s stock had a trading volume of 2,518,992 shares. Campbell Soup Co. has a 52 week low of $50.54 and a 52 week high of $67.89. The stock has a 50 day moving average of $54.20 and a 200 day moving average of $59.33. The firm has a market capitalization of $17.66 billion, a PE ratio of 31.70 and a beta of 0.40.
Campbell Soup (NYSE:CPB) last posted its quarterly earnings results on Tuesday, November 22nd. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.05. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.20 billion. Campbell Soup had a return on equity of 58.62% and a net margin of 8.30%. Campbell Soup’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.95 earnings per share. On average, equities research analysts predict that Campbell Soup Co. will post $3.07 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 30th. Investors of record on Wednesday, January 11th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.43%. The ex-dividend date is Monday, January 9th. Campbell Soup’s payout ratio is 66.04%.
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A number of research firms recently commented on CPB. RBC Capital Markets reaffirmed a “sector perform” rating and set a $60.00 price objective (up previously from $58.00) on shares of Campbell Soup in a research note on Monday. Royal Bank Of Canada raised their price target on Campbell Soup from $58.00 to $60.00 and gave the stock a “sector perform” rating in a research note on Monday. TheStreet raised Campbell Soup from a “hold” rating to a “buy” rating in a research note on Tuesday, November 22nd. Credit Suisse Group AG set a $55.00 price target on Campbell Soup and gave the stock an “underperform” rating in a research note on Wednesday, November 23rd. Finally, Zacks Investment Research raised Campbell Soup from a “sell” rating to a “hold” rating in a research note on Wednesday, November 16th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $59.77.
In related news, insider Edward Carolan sold 2,400 shares of the company’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $54.35, for a total transaction of $130,440.00. Following the transaction, the insider now directly owns 49,038 shares of the company’s stock, valued at $2,665,215.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Carlos Barroso sold 1,600 shares of the company’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $57.68, for a total value of $92,288.00. Following the transaction, the insider now directly owns 46,888 shares in the company, valued at $2,704,499.84. The disclosure for this sale can be found here. Corporate insiders own 37.30% of the company’s stock.
About Campbell Soup
Campbell Soup Company is a food company, which manufactures and markets food products. The Company’s segments include Americas Simple Meals and Beverages; Global Biscuits and Snacks, and Campbell Fresh. The Americas Simple Meals and Beverages segment includes the retail and food service channel businesses.
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