Campbell Soup (NYSE:CPB) Position Increased by Comerica Bank

Comerica Bank lifted its holdings in Campbell Soup (NYSE:CPBGet Rating) by 3.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 38,506 shares of the company’s stock after buying an additional 1,198 shares during the quarter. Comerica Bank’s holdings in Campbell Soup were worth $1,948,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Redhawk Wealth Advisors Inc. lifted its holdings in Campbell Soup by 36.2% in the third quarter. Redhawk Wealth Advisors Inc. now owns 23,646 shares of the company’s stock worth $1,114,000 after acquiring an additional 6,287 shares during the last quarter. CWM LLC raised its position in shares of Campbell Soup by 15.7% during the 3rd quarter. CWM LLC now owns 2,823 shares of the company’s stock worth $133,000 after purchasing an additional 384 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Campbell Soup by 180.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 14,043 shares of the company’s stock worth $662,000 after purchasing an additional 9,043 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Campbell Soup by 17.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 459,143 shares of the company’s stock valued at $21,633,000 after purchasing an additional 66,732 shares during the period. Finally, Veriti Management LLC grew its stake in Campbell Soup by 15.9% during the 3rd quarter. Veriti Management LLC now owns 8,229 shares of the company’s stock worth $388,000 after buying an additional 1,131 shares during the last quarter. 50.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Adam G. Ciongoli sold 37,354 shares of the business’s stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $56.86, for a total transaction of $2,123,948.44. Following the sale, the executive vice president now directly owns 99,385 shares of the company’s stock, valued at $5,651,031.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Campbell Soup news, EVP Adam G. Ciongoli sold 44,232 shares of the firm’s stock in a transaction dated Thursday, December 8th. The shares were sold at an average price of $56.46, for a total value of $2,497,338.72. Following the completion of the transaction, the executive vice president now directly owns 136,739 shares in the company, valued at $7,720,283.94. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Adam G. Ciongoli sold 37,354 shares of Campbell Soup stock in a transaction that occurred on Wednesday, December 21st. The stock was sold at an average price of $56.86, for a total transaction of $2,123,948.44. Following the completion of the transaction, the executive vice president now directly owns 99,385 shares in the company, valued at $5,651,031.10. The disclosure for this sale can be found here. Insiders own 21.05% of the company’s stock.

Campbell Soup Trading Down 0.4 %

Shares of CPB stock opened at $52.39 on Friday. The stock has a 50-day simple moving average of $54.63 and a 200 day simple moving average of $51.22. The stock has a market capitalization of $15.69 billion, a P/E ratio of 19.92, a P/E/G ratio of 5.42 and a beta of 0.38. Campbell Soup has a fifty-two week low of $41.72 and a fifty-two week high of $57.78. The company has a quick ratio of 0.31, a current ratio of 0.76 and a debt-to-equity ratio of 1.15.

Campbell Soup (NYSE:CPBGet Rating) last posted its quarterly earnings data on Wednesday, December 7th. The company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.16. The company had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.44 billion. Campbell Soup had a net margin of 8.91% and a return on equity of 26.43%. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.89 EPS. On average, sell-side analysts expect that Campbell Soup will post 2.99 earnings per share for the current fiscal year.

Campbell Soup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 30th. Shareholders of record on Thursday, January 5th will be issued a $0.37 dividend. The ex-dividend date is Wednesday, January 4th. This represents a $1.48 annualized dividend and a dividend yield of 2.82%. Campbell Soup’s dividend payout ratio is currently 56.27%.

Wall Street Analysts Forecast Growth

CPB has been the topic of a number of recent research reports. Royal Bank of Canada raised their target price on Campbell Soup from $46.00 to $50.00 in a research note on Thursday, December 8th. BNP Paribas began coverage on shares of Campbell Soup in a research note on Tuesday, November 15th. They set an “underperform” rating and a $48.00 target price for the company. Credit Suisse Group raised their price target on shares of Campbell Soup from $52.00 to $54.00 and gave the company a “neutral” rating in a research note on Thursday, December 8th. Deutsche Bank Aktiengesellschaft boosted their price objective on Campbell Soup from $50.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, December 8th. Finally, Exane BNP Paribas assumed coverage on Campbell Soup in a research report on Tuesday, November 15th. They issued an “underperform” rating on the stock. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $51.09.

Campbell Soup Company Profile

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Campbell Soup Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States and internationally. The company operates through Meals & Beverages and Snacks segments. The Meals & Beverages segment engages in the retail and foodservice businesses in the United States and Canada.

See Also

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Institutional Ownership by Quarter for Campbell Soup (NYSE:CPB)

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