Bp Plc maintained its stake in Campbell Soup Co. (NYSE:CPB) during the second quarter, Holdings Channel reports. The fund owned 25,000 shares of the company’s stock at the end of the second quarter. Bp Plc’s holdings in Campbell Soup were worth $1,663,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in CPB. State Street Corp boosted its position in shares of Campbell Soup by 5.2% in the first quarter. State Street Corp now owns 8,331,473 shares of the company’s stock worth $531,469,000 after buying an additional 412,677 shares during the last quarter. Bank of Montreal Can purchased a new position in Campbell Soup during the second quarter worth $24,817,000. American Century Companies Inc. raised its position in Campbell Soup by 773.9% in the second quarter. American Century Companies Inc. now owns 393,259 shares of the company’s stock worth $26,164,000 after buying an additional 348,260 shares in the last quarter. First Quadrant L P CA raised its position in Campbell Soup by 178,458.9% in the second quarter. First Quadrant L P CA now owns 299,979 shares of the company’s stock worth $19,958,000 after buying an additional 299,811 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in Campbell Soup by 85.9% in the first quarter. Canada Pension Plan Investment Board now owns 543,043 shares of the company’s stock worth $34,641,000 after buying an additional 251,000 shares in the last quarter. 44.17% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Campbell Soup Co. (NYSE:CPB) traded down 1.20% on Monday, hitting $53.68. 2,018,034 shares of the stock traded hands. Campbell Soup Co. has a 12-month low of $47.77 and a 12-month high of $67.89. The stock has a 50-day moving average price of $55.79 and a 200 day moving average price of $61.14. The stock has a market cap of $16.53 billion, a price-to-earnings ratio of 29.66 and a beta of 0.38.
Campbell Soup (NYSE:CPB) last posted its quarterly earnings results on Thursday, September 1st. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by $0.04. The company earned $1.69 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Campbell Soup had a return on equity of 59.50% and a net margin of 7.07%. Campbell Soup’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period last year, the company earned $0.43 earnings per share. On average, analysts anticipate that Campbell Soup Co. will post $3.04 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Wednesday, October 12th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.61%. This is a positive change from Campbell Soup’s previous quarterly dividend of $0.31. The ex-dividend date is Friday, October 7th. Campbell Soup’s dividend payout ratio is 77.78%.
A number of equities analysts have recently weighed in on CPB shares. Bank of America Corp. reissued a “neutral” rating on shares of Campbell Soup in a research report on Friday, September 2nd. Zacks Investment Research lowered shares of Campbell Soup from a “hold” rating to a “sell” rating in a research report on Tuesday, August 30th. Citigroup Inc. cut their price objective on shares of Campbell Soup from $67.00 to $63.00 and set a “neutral” rating for the company in a research report on Friday, September 2nd. RBC Capital Markets reissued a “sector perform” rating and issued a $58.00 price objective (down previously from $62.00) on shares of Campbell Soup in a research report on Sunday, September 4th. Finally, Wells Fargo & Co. set a $59.50 price objective on shares of Campbell Soup and gave the company a “hold” rating in a research report on Sunday, September 4th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and one has given a buy rating to the company’s stock. Campbell Soup has a consensus rating of “Hold” and a consensus price target of $59.83.
In other news, VP William J. O’shea sold 13,000 shares of the stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $57.74, for a total value of $750,620.00. Following the completion of the sale, the vice president now directly owns 28,952 shares of the company’s stock, valued at $1,671,688.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeff Dunn sold 8,459 shares of the stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $56.24, for a total transaction of $475,734.16. Following the completion of the sale, the insider now directly owns 112,775 shares of the company’s stock, valued at $6,342,466. The disclosure for this sale can be found here. 37.30% of the stock is currently owned by insiders.
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.