Wealthstreet Investment Advisors LLC Acquires New Holdings in Campbell Soup (CPB)
Wealthstreet Investment Advisors LLC acquired a new position in Campbell Soup (NYSE:CPB) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 10,853 shares of the company’s stock, valued at approximately $522,000.
A number of other large investors have also modified their holdings of CPB. Bessemer Group Inc. boosted its holdings in Campbell Soup by 80,239.5% during the third quarter. Bessemer Group Inc. now owns 3,445,763 shares of the company’s stock valued at $161,331,000 after acquiring an additional 3,441,474 shares during the period. Beutel Goodman & Co Ltd. bought a new stake in Campbell Soup during the fourth quarter valued at about $103,733,000. LSV Asset Management boosted its holdings in Campbell Soup by 215.7% during the fourth quarter. LSV Asset Management now owns 3,095,193 shares of the company’s stock valued at $148,909,000 after acquiring an additional 2,114,693 shares during the period. APG Asset Management N.V. boosted its holdings in Campbell Soup by 50.7% during the third quarter. APG Asset Management N.V. now owns 3,545,569 shares of the company’s stock valued at $166,004,000 after acquiring an additional 1,192,900 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Campbell Soup by 16.0% during the third quarter. Bank of New York Mellon Corp now owns 6,493,192 shares of the company’s stock valued at $304,011,000 after acquiring an additional 897,314 shares during the period. Hedge funds and other institutional investors own 47.79% of the company’s stock.
In other news, SVP Carlos Barroso sold 4,300 shares of the company’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $48.86, for a total transaction of $210,098.00. Following the completion of the transaction, the senior vice president now owns 29,119 shares of the company’s stock, valued at $1,422,754.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Randall W. Larrimore sold 2,242 shares of the company’s stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $48.69, for a total transaction of $109,162.98. The disclosure for this sale can be found here. Insiders have sold 15,284 shares of company stock valued at $741,399 in the last ninety days. 37.20% of the stock is owned by company insiders.
Campbell Soup (NYSE:CPB) last announced 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). The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.17 billion. Campbell Soup had a net margin of 11.08% and a return on equity of 56.88%. The firm’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.00 EPS. sell-side analysts forecast that Campbell Soup will post 2.95 EPS for the current fiscal year.
Campbell Soup declared that its board has initiated a stock buyback program on Monday, December 18th that allows the company to repurchase shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
CPB has been the subject of a number of recent analyst reports. Royal Bank of Canada set a $56.00 price target on shares of Campbell Soup and gave the company a “hold” rating in a report on Wednesday, October 25th. Credit Suisse Group set a $41.00 price target on shares of Campbell Soup and gave the company a “sell” rating in a report on Friday, November 24th. Citigroup upgraded shares of Campbell Soup from a “neutral” rating to a “buy” rating and upped their price target for the company from $45.51 to $57.00 in a report on Tuesday, January 16th. JPMorgan Chase & Co. restated a “hold” rating and set a $50.00 price target on shares of Campbell Soup in a report on Friday, December 15th. Finally, UBS Group decreased their price target on shares of Campbell Soup from $46.00 to $42.00 and set a “sell” rating for the company in a report on Thursday, November 9th. Six investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $50.08.
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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