Legal & General Group Plc Has $50.14 Million Stake in Campbell Soup Company (CPB)
Legal & General Group Plc grew its position in Campbell Soup Company (NYSE:CPB) by 5.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,070,714 shares of the company’s stock after buying an additional 56,706 shares during the quarter. Legal & General Group Plc owned 0.36% of Campbell Soup worth $50,143,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in CPB. Janney Montgomery Scott LLC increased its position in Campbell Soup by 2.2% during the 2nd quarter. Janney Montgomery Scott LLC now owns 20,755 shares of the company’s stock worth $1,082,000 after purchasing an additional 449 shares in the last quarter. Rothschild Asset Management Inc. grew its holdings in Campbell Soup by 6.2% during the 2nd quarter. Rothschild Asset Management Inc. now owns 14,993 shares of the company’s stock worth $782,000 after acquiring an additional 878 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in Campbell Soup by 9.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 5,900 shares of the company’s stock worth $308,000 after acquiring an additional 500 shares during the last quarter. IFP Advisors Inc grew its holdings in Campbell Soup by 401.3% during the 2nd quarter. IFP Advisors Inc now owns 12,393 shares of the company’s stock worth $646,000 after acquiring an additional 9,921 shares during the last quarter. Finally, Trexquant Investment LP bought a new stake in Campbell Soup during the 2nd quarter worth approximately $767,000. Institutional investors and hedge funds own 46.33% of the company’s stock.
A number of equities research analysts have weighed in on the stock. Piper Jaffray Companies set a $49.00 target price on shares of Campbell Soup and gave the stock a “hold” rating in a report on Tuesday, November 28th. Credit Suisse Group set a $41.00 target price on shares of Campbell Soup and gave the stock a “sell” rating in a report on Friday, November 24th. Royal Bank Of Canada reissued a “hold” rating and set a $53.00 target price (down from $55.00) on shares of Campbell Soup in a report on Wednesday, November 22nd. UBS reduced their target price on shares of Campbell Soup from $42.00 to $41.00 and set a “sell” rating on the stock in a report on Wednesday, November 22nd. Finally, Morgan Stanley reduced their target price on shares of Campbell Soup from $47.00 to $46.00 and set an “underweight” rating on the stock in a report on Friday, October 13th. Seven analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $49.91.
In related news, Director Charles R. Perrin sold 2,304 shares of the 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Luca Mignini bought 4,300 shares of the business’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 completion of the purchase, the insider now owns 88,178 shares of the company’s stock, valued at $4,097,631.66. The disclosure for this purchase can be found here. 37.20% of the stock is owned by corporate insiders.
Campbell Soup Company (NYSE CPB) traded up $0.36 during trading hours on Thursday, hitting $50.19. 2,252,600 shares of the stock were exchanged, compared to its average volume of 2,009,402. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.42 and a current ratio of 0.77. Campbell Soup Company has a 12 month low of $44.99 and a 12 month high of $64.23. The company has a market cap of $14,975.34, a price-to-earnings ratio of 16.95, a P/E/G ratio of 3.79 and a beta of 0.40.
Campbell Soup (NYSE:CPB) last posted its quarterly earnings data on Tuesday, November 21st. The company reported $0.92 EPS for the quarter, missing the Zacks’ consensus estimate of $0.97 by ($0.05). Campbell Soup had a net margin of 11.08% and a return on equity of 56.88%. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same period in the prior year, the company posted $1.00 earnings per share. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. equities analysts expect that Campbell Soup Company will post 2.96 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 29th. Investors of record on Wednesday, January 10th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.79%. The ex-dividend date is Tuesday, January 9th. Campbell Soup’s dividend payout ratio is presently 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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