ETRADE Capital Management LLC Purchases New Position in Campbell Soup Company (CPB)
ETRADE Capital Management LLC purchased a new position in shares of Campbell Soup Company (NYSE:CPB) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,025 shares of the company’s stock, valued at approximately $210,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Suntrust Banks Inc. grew its stake in shares of Campbell Soup by 6.4% in the 1st quarter. Suntrust Banks Inc. now owns 4,396 shares of the company’s stock valued at $251,000 after purchasing an additional 265 shares during the period. UBS Asset Management Americas Inc. raised its holdings in shares of Campbell Soup by 9.6% in the 1st quarter. UBS Asset Management Americas Inc. now owns 1,045,843 shares of the company’s stock worth $59,864,000 after buying an additional 91,272 shares in the last quarter. Mutual of America Capital Management LLC raised its holdings in shares of Campbell Soup by 7.8% in the 1st quarter. Mutual of America Capital Management LLC now owns 25,285 shares of the company’s stock worth $1,447,000 after buying an additional 1,822 shares in the last quarter. Oxford Asset Management acquired a new position in shares of Campbell Soup in the 1st quarter worth approximately $902,000. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Campbell Soup by 8.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 7,278 shares of the company’s stock worth $416,000 after buying an additional 556 shares in the last quarter. Hedge funds and other institutional investors own 44.29% of the company’s stock.
Campbell Soup Company (CPB) opened at 46.86 on Tuesday. Campbell Soup Company has a 12 month low of $45.00 and a 12 month high of $64.23. The company’s 50-day moving average is $49.17 and its 200 day moving average is $53.91. The firm has a market cap of $14.08 billion, a P/E ratio of 16.21 and a beta of 0.36.
Campbell Soup (NYSE:CPB) last posted its quarterly earnings results on Thursday, August 31st. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). Campbell Soup had a return on equity of 59.84% and a net margin of 11.24%. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same period last year, the firm posted $0.46 EPS. Campbell Soup’s quarterly revenue was down 1.4% on a year-over-year basis. Equities research analysts expect that Campbell Soup Company will post $3.05 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 30th. Investors of record on Friday, October 13th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend is Thursday, October 12th. Campbell Soup’s dividend payout ratio (DPR) is presently 48.44%.
CPB has been the subject of several analyst reports. Deutsche Bank AG restated a “hold” rating and set a $51.00 target price (down previously from $58.00) on shares of Campbell Soup in a research report on Friday, September 1st. Zacks Investment Research upgraded Campbell Soup from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. Royal Bank Of Canada set a $60.00 price target on Campbell Soup and gave the company a “hold” rating in a research report on Tuesday, July 18th. Goldman Sachs Group, Inc. (The) dropped their price objective on Campbell Soup from $49.00 to $45.00 and set a “hold” rating for the company in a research note on Sunday, September 3rd. Finally, J P Morgan Chase & Co reiterated a “neutral” rating and set a $55.00 price objective (down from $60.00) on shares of Campbell Soup in a research note on Wednesday, June 28th. Seven analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $52.33.
In other Campbell Soup news, insider Luca Mignini bought 4,300 shares of the firm’s stock in a transaction on Wednesday, September 27th. The shares were purchased at an average price of $46.47 per share, for a total transaction of $199,821.00. Following the completion of the transaction, the insider now directly owns 88,178 shares in the company, valued at approximately $4,097,631.66. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 37.30% of the company’s stock.
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Campbell Soup Profile
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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