California State Teachers Retirement System Grows Stock Position in Campbell Soup (NYSE:CPB)
California State Teachers Retirement System lifted its position in Campbell Soup (NYSE:CPB) by 1.0% during the third quarter, HoldingsChannel.com reports. The fund owned 278,556 shares of the company’s stock after acquiring an additional 2,700 shares during the period. California State Teachers Retirement System’s holdings in Campbell Soup were worth $13,070,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the business. NEXT Financial Group Inc boosted its position in Campbell Soup by 20,350.0% during the second quarter. NEXT Financial Group Inc now owns 2,863 shares of the company’s stock worth $115,000 after acquiring an additional 2,849 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of Campbell Soup by 31.7% in the second quarter. Robeco Institutional Asset Management B.V. now owns 21,044 shares of the company’s stock valued at $844,000 after purchasing an additional 5,070 shares in the last quarter. AE Wealth Management LLC purchased a new stake in shares of Campbell Soup in the second quarter valued at approximately $211,000. Commerzbank Aktiengesellschaft FI increased its holdings in shares of Campbell Soup by 15.7% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 26,056 shares of the company’s stock valued at $1,044,000 after purchasing an additional 3,529 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Campbell Soup by 50.8% in the second quarter. Daiwa Securities Group Inc. now owns 25,229 shares of the company’s stock valued at $1,011,000 after purchasing an additional 8,500 shares during the last quarter. Institutional investors own 50.88% of the company’s stock.
In other news, SVP Adam G. Ciongoli sold 16,096 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $47.16, for a total transaction of $759,087.36. Following the completion of the transaction, the senior vice president now directly owns 70,984 shares in the company, valued at approximately $3,347,605.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 36.48% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Wednesday, January 8th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Tuesday, January 7th. Campbell Soup’s dividend payout ratio (DPR) is presently 60.87%.
A number of equities analysts have weighed in on the company. Wells Fargo & Co reissued a “hold” rating and set a $45.00 price objective on shares of Campbell Soup in a research note on Friday, August 30th. ValuEngine downgraded Campbell Soup from a “hold” rating to a “sell” rating in a research note on Tuesday, November 26th. Royal Bank of Canada began coverage on Campbell Soup in a report on Thursday, October 17th. They set an “outperform” rating and a $55.00 price target on the stock. JPMorgan Chase & Co. boosted their price target on shares of Campbell Soup from $41.00 to $48.00 in a research report on Tuesday, September 3rd. Finally, Citigroup upped their price objective on shares of Campbell Soup from $48.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Five research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Campbell Soup has a consensus rating of “Hold” and a consensus target price of $43.82.
Campbell Soup Company Profile
Campbell Soup Company, together with its subsidiaries, manufactures and markets branded food and beverage products. It operates through three segments: Americas Simple Meals and Beverages, Global Biscuits and Snacks, and Campbell Fresh. The Americas Simple Meals and Beverages segment engages in the retail and food service of Campbell's condensed and ready-to-serve soups; Swanson broth and stocks; Prego pasta sauces; Pace Mexican sauces; Campbell's gravies, pastas, beans, and dinner sauces; Swanson canned poultry products; Plum food and snack products; V8 juices and beverages; Campbell's tomato juices; and Pacific broth, soups, non-dairy beverages, and other simple meals.
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