Campbell Soup (CPB) Position Raised by SG Americas Securities LLC
SG Americas Securities LLC lifted its stake in shares of Campbell Soup (NYSE:CPB) by 516.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 223,114 shares of the company’s stock after purchasing an additional 186,932 shares during the quarter. SG Americas Securities LLC owned about 0.07% of Campbell Soup worth $9,045,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Beutel Goodman & Co Ltd. raised its stake in shares of Campbell Soup by 20.3% during the second quarter. Beutel Goodman & Co Ltd. now owns 2,843,202 shares of the company’s stock valued at $87,692,000 after purchasing an additional 480,296 shares in the last quarter. Champlain Investment Partners LLC bought a new stake in shares of Campbell Soup during the first quarter valued at about $56,667,000. Tobam raised its stake in shares of Campbell Soup by 20.6% during the second quarter. Tobam now owns 1,274,206 shares of the company’s stock valued at $51,656,000 after purchasing an additional 217,393 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Campbell Soup by 44.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 1,192,811 shares of the company’s stock valued at $51,661,000 after purchasing an additional 366,716 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Campbell Soup by 25.6% during the second quarter. First Trust Advisors LP now owns 1,161,951 shares of the company’s stock valued at $47,105,000 after purchasing an additional 236,802 shares in the last quarter. Institutional investors and hedge funds own 49.13% of the company’s stock.
Shares of Campbell Soup stock opened at $42.03 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.37 and a debt-to-equity ratio of 5.73. Campbell Soup has a 52 week low of $32.63 and a 52 week high of $54.37. The stock has a market capitalization of $12.43 billion, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 2.55 and a beta of 0.28.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 30th. Shareholders of record on Friday, July 13th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend was Thursday, July 12th. Campbell Soup’s dividend payout ratio (DPR) is presently 46.05%.
CPB has been the topic of a number of recent analyst reports. Barclays cut their price objective on shares of Campbell Soup from $47.00 to $33.00 and set an “underweight” rating on the stock in a research note on Monday, May 21st. Royal Bank of Canada cut their price objective on shares of Campbell Soup to $40.00 and set a “sector perform” rating on the stock in a research note on Monday, May 21st. Bank of America cut shares of Campbell Soup from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $34.37 to $31.00 in a research note on Monday, May 21st. Sanford C. Bernstein set a $33.00 price target on shares of Campbell Soup and gave the stock a “sell” rating in a research report on Tuesday, May 22nd. Finally, Zacks Investment Research cut shares of Campbell Soup from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 19th. Eleven research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The company has an average rating of “Sell” and a consensus price target of $40.93.
In other Campbell Soup news, Director Maria Teresa Hilado purchased 2,000 shares of the company’s stock in a transaction on Wednesday, June 6th. The shares were purchased at an average cost of $33.22 per share, for a total transaction of $66,440.00. Following the completion of the transaction, the director now owns 4,330 shares in the company, valued at $143,842.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 37.20% of the stock is currently owned by insiders.
Campbell Soup Profile
Campbell Soup Co engages in manufacturing and marketing of convenience food products such as soup, simple meals, snacks, and healthy beverages. It operates through the following segments: 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 businesses in the U.S., Canada and Latin America.
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