Breton Hill Capital Ltd. Acquires New Stake in Campbell Soup Company (CPB)
Breton Hill Capital Ltd. acquired a new stake in shares of Campbell Soup Company (NYSE:CPB) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 17,257 shares of the company’s stock, valued at approximately $808,000.
Other hedge funds have also added to or reduced their stakes in the company. Motco lifted its holdings in shares of Campbell Soup by 301.9% in the 2nd quarter. Motco now owns 2,130 shares of the company’s stock worth $111,000 after acquiring an additional 1,600 shares during the last quarter. First Personal Financial Services lifted its holdings in shares of Campbell Soup by 180.9% in the 3rd quarter. First Personal Financial Services now owns 2,677 shares of the company’s stock worth $125,000 after acquiring an additional 1,724 shares during the last quarter. Mercer Capital Advisers Inc. lifted its holdings in shares of 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 acquiring an additional 405 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Campbell Soup in the 3rd quarter worth about $175,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of 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 acquiring an additional 213 shares during the last quarter. Institutional investors and hedge funds own 45.18% of the company’s stock.
Campbell Soup Company (NYSE:CPB) traded up $1.78 during midday trading on Friday, reaching $47.42. 2,354,639 shares of the company’s stock were exchanged, compared to its average volume of 2,458,086. The company has a quick ratio of 0.42, a current ratio of 0.79 and a debt-to-equity ratio of 1.52. The stock has a market cap of $13,716.12, a P/E ratio of 15.11, a price-to-earnings-growth ratio of 3.35 and a beta of 0.38. Campbell Soup Company has a 1-year low of $44.99 and a 1-year high of $64.23.
Campbell Soup (NYSE:CPB) last posted its 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). The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.69 billion. Campbell Soup had a net margin of 11.24% and a return on equity of 59.84%. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period last year, the business posted $0.46 EPS. equities research analysts expect that Campbell Soup Company will post 3.07 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 30th. Shareholders of record on Friday, October 13th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend was Thursday, October 12th. Campbell Soup’s dividend payout ratio (DPR) is 48.44%.
In other news, Director Charles R. Perrin sold 2,304 shares of Campbell Soup stock in a transaction that occurred on Friday, October 6th. The shares were sold at an average price of $46.46, for a total value of $107,043.84. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Luca Mignini acquired 4,300 shares of the business’s stock in a transaction dated Wednesday, September 27th. The stock was purchased at an average cost of $46.47 per share, for a total transaction of $199,821.00. Following the transaction, the insider now owns 88,178 shares in the company, valued at $4,097,631.66. The disclosure for this purchase can be found here. Company insiders own 37.20% of the company’s stock.
CPB has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Campbell Soup from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th. Credit Suisse Group reaffirmed a “sell” rating and issued a $43.00 price target (down previously from $47.00) on shares of Campbell Soup in a research note on Friday, September 1st. Morgan Stanley reaffirmed an “underweight” rating and issued a $47.00 price target (down previously from $52.00) on shares of Campbell Soup in a research note on Friday, September 1st. Royal Bank Of Canada downgraded shares of Campbell Soup from an “underperform” rating to a “market perform” rating in a research note on Sunday, September 3rd. Finally, Goldman Sachs Group, Inc. (The) reduced their price target on shares of Campbell Soup from $49.00 to $45.00 and set a “hold” rating on the stock in a research note on Sunday, September 3rd. Seven investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $50.55.
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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