Campbell Soup Company (CPB) Shares Bought by Gotham Asset Management LLC
Gotham Asset Management LLC increased its stake in shares of Campbell Soup Company (NYSE:CPB) by 40.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 904,321 shares of the company’s stock after buying an additional 262,698 shares during the period. Campbell Soup accounts for about 0.7% of Gotham Asset Management LLC’s portfolio, making the stock its 15th largest holding. Gotham Asset Management LLC owned 0.30% of Campbell Soup worth $47,160,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in CPB. Motco raised its stake in Campbell Soup by 301.9% in the 2nd quarter. Motco now owns 2,130 shares of the company’s stock worth $111,000 after purchasing an additional 1,600 shares in the last quarter. Johnson Financial Group Inc. raised its stake in Campbell Soup by 19.2% in the 1st quarter. Johnson Financial Group Inc. now owns 2,535 shares of the company’s stock worth $145,000 after purchasing an additional 408 shares in the last quarter. Mercer Capital Advisers Inc. raised its stake in Campbell Soup by 13.6% in the 2nd quarter. Mercer Capital Advisers Inc. now owns 3,374 shares of the company’s stock worth $176,000 after purchasing an additional 405 shares in the last quarter. Van ECK Associates Corp raised its stake in Campbell Soup by 7.0% in the 1st quarter. Van ECK Associates Corp now owns 3,122 shares of the company’s stock worth $179,000 after purchasing an additional 204 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in Campbell Soup by 6.1% in the 2nd quarter. Victory Capital Management Inc. now owns 3,733 shares of the company’s stock worth $195,000 after purchasing an additional 213 shares in the last quarter. 44.29% of the stock is owned by institutional investors and hedge funds.
Several analysts have weighed in on the stock. Credit Suisse Group reiterated a “sell” rating and issued a $43.00 price objective (down previously from $47.00) on shares of Campbell Soup in a research note on Friday, September 1st. Barclays PLC reiterated a “sell” rating on shares of Campbell Soup in a research note on Tuesday, July 25th. Royal Bank Of Canada dropped their price objective on shares of Campbell Soup from $60.00 to $56.00 and set a “sector perform” rating for the company in a research note on Friday, September 1st. Zacks Investment Research upgraded shares of Campbell Soup from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. Finally, J P Morgan Chase & Co reiterated a “neutral” rating and issued a $55.00 price objective (down previously from $60.00) on shares of Campbell Soup in a research note on Wednesday, June 28th. Seven equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $51.00.
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In other news, insider Luca Mignini purchased 4,300 shares of the stock in a transaction dated Wednesday, September 27th. The shares were purchased at an average cost of $46.47 per share, with a total value of $199,821.00. Following the completion of the acquisition, the insider now 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 this link. Corporate insiders own 37.30% of the company’s stock.
Shares of Campbell Soup Company (NYSE:CPB) traded up 0.58% during trading on Thursday, hitting $46.83. 607,053 shares of the stock traded hands. The stock has a 50-day moving average of $48.75 and a 200 day moving average of $53.76. Campbell Soup Company has a 1-year low of $45.00 and a 1-year high of $64.23. The company has a market cap of $14.07 billion, a P/E ratio of 16.20 and a beta of 0.36.
Campbell Soup (NYSE:CPB) last announced its quarterly earnings results on Thursday, August 31st. The company reported $0.52 earnings per share (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 firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same period in the previous year, the company posted $0.46 earnings per share. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. On average, equities research analysts predict that Campbell Soup Company will post $3.05 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 30th. Stockholders of record on Friday, October 13th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date is Thursday, October 12th. Campbell Soup’s payout ratio is 48.44%.
Campbell Soup Company 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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