Ellevest Inc. boosted its stake in Campbell Soup (NYSE:CPB – Get Rating) by 58.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,814 shares of the company's stock after purchasing an additional 1,039 shares during the quarter. Ellevest Inc.'s holdings in Campbell Soup were worth $135,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of CPB. State Street Corp grew its holdings in Campbell Soup by 16.8% in the first quarter. State Street Corp now owns 12,182,043 shares of the company's stock worth $542,954,000 after purchasing an additional 1,749,650 shares during the period. Vanguard Group Inc. grew its holdings in Campbell Soup by 6.3% in the first quarter. Vanguard Group Inc. now owns 23,259,524 shares of the company's stock worth $1,036,678,000 after purchasing an additional 1,387,605 shares during the period. Victory Capital Management Inc. grew its holdings in Campbell Soup by 64.4% in the first quarter. Victory Capital Management Inc. now owns 925,468 shares of the company's stock worth $43,701,000 after purchasing an additional 362,607 shares during the period. Goldman Sachs Group Inc. grew its holdings in Campbell Soup by 14.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,147,850 shares of the company's stock worth $93,345,000 after purchasing an additional 267,538 shares during the period. Finally, Worldquant Millennium Advisors LLC grew its holdings in Campbell Soup by 201.0% in the first quarter. Worldquant Millennium Advisors LLC now owns 381,297 shares of the company's stock worth $16,994,000 after purchasing an additional 254,619 shares during the period. 51.16% of the stock is currently owned by institutional investors and hedge funds.
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Insiders Place Their Bets
In other Campbell Soup news, EVP Adam G. Ciongoli sold 17,924 shares of Campbell Soup stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $50.01, for a total value of $896,379.24. Following the sale, the executive vice president now owns 129,919 shares of the company's stock, valued at $6,497,249.19. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Adam G. Ciongoli sold 32,194 shares of the business's stock in a transaction that occurred on Wednesday, July 13th. The shares were sold at an average price of $49.75, for a total value of $1,601,651.50. Following the sale, the executive vice president now owns 129,919 shares of the company's stock, valued at $6,463,470.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Adam G. Ciongoli sold 17,924 shares of the business's stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $50.01, for a total transaction of $896,379.24. Following the completion of the sale, the executive vice president now directly owns 129,919 shares in the company, valued at approximately $6,497,249.19. The disclosure for this sale can be found here. Insiders own 35.62% of the company's stock.
Campbell Soup Stock Up 1.7 %
CPB opened at $47.88 on Thursday. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.68 and a quick ratio of 0.25. The company's 50-day moving average is $49.24 and its 200 day moving average is $47.59. Campbell Soup has a fifty-two week low of $39.76 and a fifty-two week high of $51.94. The firm has a market capitalization of $14.33 billion, a P/E ratio of 19.15, a PEG ratio of 5.59 and a beta of 0.35.
Campbell Soup (NYSE:CPB – Get Rating) last announced its quarterly earnings data on Thursday, September 1st. The company reported $0.56 EPS for the quarter, hitting the consensus estimate of $0.56. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.98 billion. Campbell Soup had a net margin of 8.84% and a return on equity of 25.81%. The company's revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 earnings per share. Research analysts expect that Campbell Soup will post 2.9 earnings per share for the current fiscal year.
Campbell Soup Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Thursday, October 6th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend is Wednesday, October 5th. Campbell Soup's dividend payout ratio is 59.20%.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on the stock. Piper Sandler reduced their price objective on shares of Campbell Soup from $47.00 to $46.00 and set a "neutral" rating for the company in a report on Friday, September 2nd. Credit Suisse Group lifted their price objective on shares of Campbell Soup from $46.00 to $52.00 and gave the company a "neutral" rating in a report on Friday, August 26th. StockNews.com cut shares of Campbell Soup from a "buy" rating to a "hold" rating in a report on Monday, September 19th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Campbell Soup from $49.00 to $50.00 in a report on Monday, August 22nd. Finally, Stifel Nicolaus lifted their price objective on shares of Campbell Soup from $46.00 to $48.00 in a report on Thursday, June 9th. One research analyst has rated the stock with a sell rating and nine have issued a hold rating to the company. Based on data from MarketBeat, Campbell Soup currently has a consensus rating of "Hold" and an average price target of $47.89.
Campbell Soup Company Profile
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Campbell Soup Company, together with its subsidiaries, manufactures and markets food and beverage products 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.
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