Kornitzer Capital Management Inc. KS lowered its position in shares of Campbell Soup (NYSE:CPB) by 3.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 76,115 shares of the company’s stock after selling 2,375 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Campbell Soup were worth $3,571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Massey Quick Simon & CO. LLC acquired a new stake in shares of Campbell Soup during the 3rd quarter worth approximately $25,000. Citizens Financial Group Inc RI acquired a new stake in Campbell Soup in the 2nd quarter valued at approximately $28,000. Meeder Asset Management Inc. increased its holdings in Campbell Soup by 204.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 783 shares of the company’s stock valued at $31,000 after purchasing an additional 526 shares during the last quarter. Strategic Blueprint LLC acquired a new stake in Campbell Soup in the 3rd quarter valued at approximately $47,000. Finally, AdvisorNet Financial Inc increased its holdings in Campbell Soup by 1,207.5% in the 3rd quarter. AdvisorNet Financial Inc now owns 1,046 shares of the company’s stock valued at $49,000 after purchasing an additional 966 shares during the last quarter. Institutional investors and hedge funds own 52.43% of the company’s stock.
Several research firms recently weighed in on CPB. Citigroup lifted their target price 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. Wells Fargo & Co reiterated a “hold” rating and issued a $45.00 target price on shares of Campbell Soup in a report on Friday, August 30th. ValuEngine downgraded shares of Campbell Soup from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Bank of America lifted their target price on shares of Campbell Soup from $36.00 to $40.00 and gave the company an “underperform” rating in a report on Tuesday, September 3rd. Finally, Royal Bank of Canada began coverage on shares of Campbell Soup in a report on Thursday, October 17th. They issued an “outperform” rating and a $55.00 target price for the company. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. Campbell Soup presently has a consensus rating of “Hold” and a consensus target price of $43.50.
In other Campbell Soup news, SVP Adam G. Ciongoli sold 16,096 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $47.16, for a total value of $759,087.36. Following the completion of the transaction, the senior vice president now owns 70,984 shares of the company’s stock, valued at approximately $3,347,605.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 36.48% of the company’s stock.
CPB stock traded down $0.17 during midday trading on Friday, hitting $46.25. The company’s stock had a trading volume of 1,220,838 shares, compared to its average volume of 2,335,252. The company has a quick ratio of 0.33, a current ratio of 0.58 and a debt-to-equity ratio of 6.39. Campbell Soup has a 52-week low of $32.03 and a 52-week high of $48.38. The firm has a market capitalization of $14.00 billion, a P/E ratio of 20.11, a PEG ratio of 3.11 and a beta of 0.43. The firm has a 50-day simple moving average of $46.87 and a 200-day simple moving average of $42.59.
Campbell Soup (NYSE:CPB) last issued its quarterly earnings results on Friday, August 30th. The company reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.08. Campbell Soup had a net margin of 2.25% and a return on equity of 62.59%. The company had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter last year, the company posted $0.25 EPS. The firm’s revenue was up 1.6% compared to the same quarter last year. On average, sell-side analysts expect that Campbell Soup will post 2.52 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Thursday, October 10th were given a $0.35 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $1.40 annualized dividend and a yield of 3.03%. Campbell Soup’s dividend payout ratio is presently 60.87%.
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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