Campbell Soup Company (CPB) Stake Lessened by Huntington National Bank
Huntington National Bank cut its holdings in shares of Campbell Soup Company (NYSE:CPB) by 12.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,716 shares of the company’s stock after selling 1,276 shares during the period. Huntington National Bank’s holdings in Campbell Soup were worth $408,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of CPB. OppenheimerFunds Inc. increased its position in shares of Campbell Soup by 9.3% during the first quarter. OppenheimerFunds Inc. now owns 17,578 shares of the company’s stock worth $1,006,000 after purchasing an additional 1,489 shares in the last quarter. Teachers Advisors LLC increased its position in shares of Campbell Soup by 51.0% during the first quarter. Teachers Advisors LLC now owns 437,838 shares of the company’s stock worth $25,062,000 after purchasing an additional 147,875 shares in the last quarter. Thrivent Financial For Lutherans increased its position in shares of Campbell Soup by 14.2% during the first quarter. Thrivent Financial For Lutherans now owns 7,660 shares of the company’s stock worth $438,000 after purchasing an additional 950 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Campbell Soup by 11.6% during the first quarter. Dimensional Fund Advisors LP now owns 875,006 shares of the company’s stock worth $50,084,000 after purchasing an additional 90,818 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Campbell Soup during the first quarter worth $20,835,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have recently issued reports on the company. Royal Bank Of Canada set a $56.00 price target on Campbell Soup and gave the stock a “hold” rating in a research report on Wednesday, October 25th. Credit Suisse Group set a $47.00 price target on Campbell Soup and gave the stock a “sell” rating in a research report on Sunday, July 23rd. Morgan Stanley cut their target price on Campbell Soup from $47.00 to $46.00 and set an “underweight” rating on the stock in a research report on Friday, October 13th. Piper Jaffray Companies reissued a “neutral” rating and issued a $50.00 target price (down from $56.00) on shares of Campbell Soup in a research report on Monday, September 11th. Finally, Barclays PLC reissued a “sell” rating on shares of Campbell Soup in a research report on Tuesday, July 25th. Seven analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. Campbell Soup currently has a consensus rating of “Hold” and a consensus price target of $50.91.
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In related news, Director Charles R. Perrin sold 2,304 shares of the business’s stock in a transaction dated Friday, October 6th. The shares were sold at an average price of $46.46, for a total transaction of $107,043.84. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Luca Mignini acquired 4,300 shares of the firm’s stock in a transaction that occurred on Wednesday, September 27th. The shares were bought at an average cost of $46.47 per share, for a total transaction of $199,821.00. Following the acquisition, the insider now owns 88,178 shares of the company’s stock, valued at approximately $4,097,631.66. The disclosure for this purchase can be found here. 37.20% of the stock is currently owned by insiders.
Shares of Campbell Soup Company (CPB) opened at 46.36 on Tuesday. Campbell Soup Company has a 12-month low of $44.99 and a 12-month high of $64.23. The stock has a market capitalization of $13.93 billion, a price-to-earnings ratio of 16.04 and a beta of 0.36. The firm has a 50-day moving average of $46.64 and a 200 day moving average of $52.33.
Campbell Soup (NYSE:CPB) last released its quarterly earnings data on Thursday, August 31st. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.69 billion. Campbell Soup had a return on equity of 59.84% and a net margin of 11.24%. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.46 EPS. Equities analysts forecast that Campbell Soup Company will post $3.05 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 30th. Investors of record on Friday, October 13th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend was Thursday, October 12th. Campbell Soup’s dividend payout ratio is currently 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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