Campbell Soup Company (CPB) Shares Bought by American International Group Inc.
American International Group Inc. boosted its stake in Campbell Soup Company (NYSE:CPB) by 6.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 94,145 shares of the company’s stock after acquiring an additional 5,712 shares during the quarter. American International Group Inc.’s holdings in Campbell Soup were worth $4,408,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in CPB. Motco boosted its stake in Campbell Soup by 301.9% during the 2nd quarter. Motco now owns 2,130 shares of the company’s stock worth $111,000 after purchasing an additional 1,600 shares during the last quarter. First Personal Financial Services boosted its stake in Campbell Soup by 180.9% during the 3rd quarter. First Personal Financial Services now owns 2,677 shares of the company’s stock worth $125,000 after purchasing an additional 1,724 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in Campbell Soup during the 3rd quarter worth $175,000. Victory Capital Management Inc. boosted its stake in Campbell Soup by 6.1% during 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 during the last quarter. Finally, First Allied Advisory Services Inc. boosted its stake in Campbell Soup by 6.3% during the 2nd quarter. First Allied Advisory Services Inc. now owns 3,847 shares of the company’s stock worth $201,000 after purchasing an additional 227 shares during the last quarter. 46.33% of the stock is currently owned by hedge funds and other institutional investors.
CPB has been the topic of several recent research reports. Zacks Investment Research raised shares of Campbell Soup from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. Credit Suisse Group reaffirmed a “sell” rating and set a $43.00 target price (down previously from $47.00) on shares of Campbell Soup in a research note on Friday, September 1st. Morgan Stanley reiterated an “underweight” rating and set a $47.00 price target (down previously from $52.00) on shares of Campbell Soup in a report on Friday, September 1st. Royal Bank Of Canada set a $56.00 price target on Campbell Soup and gave the stock a “hold” rating in a report on Wednesday, October 25th. Finally, Goldman Sachs Group reduced their price target on Campbell Soup from $49.00 to $45.00 and set a “hold” rating on the stock in a report on Sunday, September 3rd. Seven research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $49.91.
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 value of $107,043.84. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Luca Mignini acquired 4,300 shares of Campbell Soup stock in a transaction that occurred on Wednesday, September 27th. The stock was bought at an average price of $46.47 per share, for a total transaction 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 disclosure for this purchase can be found here. 37.20% of the stock is currently owned by insiders.
Campbell Soup Company (CPB) opened at $49.83 on Wednesday. Campbell Soup Company has a fifty-two week low of $44.99 and a fifty-two week high of $64.23. The company has a current ratio of 0.77, a quick ratio of 0.42 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $15,122.59, a price-to-earnings ratio of 17.12, a PEG ratio of 3.82 and a beta of 0.40.
Campbell Soup (NYSE:CPB) last posted its quarterly earnings results on Tuesday, November 21st. The company reported $0.92 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.05). Campbell Soup had a return on equity of 56.88% and a net margin of 11.08%. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.17 billion. During the same quarter in the prior year, the firm earned $1.00 EPS. The firm’s revenue was down 1.9% on a year-over-year basis. research analysts expect that Campbell Soup Company will post 2.96 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 29th. Investors of record on Wednesday, January 10th will be issued a $0.35 dividend. The ex-dividend date is Tuesday, January 9th. This represents a $1.40 annualized dividend and a yield of 2.81%. Campbell Soup’s dividend payout ratio (DPR) is currently 48.95%.
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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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