Campbell Soup Company (CPB) Position Boosted by Manning & Napier Advisors LLC
Manning & Napier Advisors LLC lifted its position in shares of Campbell Soup Company (NYSE:CPB) by 3.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,201,707 shares of the company’s stock after buying an additional 37,577 shares during the period. Manning & Napier Advisors LLC owned 0.40% of Campbell Soup worth $56,262,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in CPB. Thrivent Financial For Lutherans lifted its stake 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 valued at $438,000 after buying an additional 950 shares during the period. Bank of Montreal Can lifted its stake in shares of Campbell Soup by 5.6% during the second quarter. Bank of Montreal Can now owns 323,289 shares of the company’s stock valued at $16,859,000 after buying an additional 17,003 shares during the period. Creative Planning lifted its stake in shares of Campbell Soup by 5.8% during the second quarter. Creative Planning now owns 16,728 shares of the company’s stock valued at $872,000 after buying an additional 917 shares during the period. National Pension Service lifted its stake in shares of Campbell Soup by 9.8% during the second quarter. National Pension Service now owns 207,194 shares of the company’s stock valued at $10,772,000 after buying an additional 18,485 shares during the period. Finally, Mn Services Vermogensbeheer B.V. lifted its stake in shares of Campbell Soup by 461.1% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 29,910 shares of the company’s stock valued at $1,560,000 after buying an additional 24,579 shares during the period. 46.48% of the stock is currently owned by institutional investors and hedge funds.
Campbell Soup Company (NYSE:CPB) traded up $1.90 during trading on Friday, hitting $48.32. 2,345,500 shares of the stock traded hands, compared to its average volume of 1,902,804. Campbell Soup Company has a 52 week low of $44.99 and a 52 week high of $64.23. The firm has a market capitalization of $14,830.00, a price-to-earnings ratio of 15.37, a P/E/G ratio of 3.40 and a beta of 0.38. The company has a quick ratio of 0.42, a current ratio of 0.79 and a debt-to-equity ratio of 1.52.
Campbell Soup (NYSE:CPB) last released its quarterly earnings data on Thursday, August 31st. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $1.69 billion. During the same period in the previous year, the company earned $0.46 EPS. Campbell Soup’s revenue was down 1.4% on a year-over-year basis. sell-side analysts forecast that Campbell Soup Company will post 3.07 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 29th. Stockholders of record on Wednesday, January 10th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.90%. Campbell Soup’s payout ratio is currently 48.44%.
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Several brokerages recently issued reports on CPB. UBS AG reduced their price objective on shares of Campbell Soup from $46.00 to $42.00 and set a “sell” rating on the stock in a research note on Thursday, November 9th. Credit Suisse Group set a $47.00 price objective on shares of Campbell Soup and gave the company a “sell” rating in a research note on Sunday, July 23rd. Morgan Stanley reduced their price objective on shares of Campbell Soup from $47.00 to $46.00 and set an “underweight” rating on the stock in a research note on Friday, October 13th. Piper Jaffray Companies reaffirmed a “neutral” rating and set a $50.00 price target (down previously from $56.00) on shares of Campbell Soup in a research note on Monday, September 11th. Finally, Barclays PLC reaffirmed a “sell” rating on shares of Campbell Soup in a research note on Tuesday, July 25th. Seven analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. Campbell Soup currently has an average rating of “Hold” and a consensus target price of $50.55.
In other news, insider Luca Mignini purchased 4,300 shares of the stock in a transaction that occurred on Wednesday, September 27th. The stock was acquired at an average cost of $46.47 per share, with a total value of $199,821.00. Following the acquisition, the insider now owns 88,178 shares in the company, valued at $4,097,631.66. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Charles R. Perrin sold 2,304 shares of the firm’s stock in a transaction on Friday, October 6th. The shares were sold at an average price of $46.46, for a total transaction of $107,043.84. The disclosure for this sale can be found here. 37.20% of the stock is owned by corporate insiders.
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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