Victory Capital Management Inc. raised its position in Campbell Soup (NYSE:CPB) by 0.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 208,642 shares of the company’s stock after acquiring an additional 1,820 shares during the quarter. Victory Capital Management Inc. owned approximately 0.07% of Campbell Soup worth $8,458,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of CPB. Champlain Investment Partners LLC purchased a new position in Campbell Soup in the first quarter worth approximately $56,667,000. Bank of Montreal Can purchased a new position in Campbell Soup in the second quarter worth approximately $45,483,000. Wedge Capital Management L L P NC purchased a new position in Campbell Soup in the second quarter worth approximately $33,950,000. Eaton Vance Management lifted its stake in Campbell Soup by 363.0% in the first quarter. Eaton Vance Management now owns 784,539 shares of the company’s stock worth $33,978,000 after acquiring an additional 615,082 shares during the last quarter. Finally, Beutel Goodman & Co Ltd. lifted its stake in Campbell Soup by 20.3% in the second quarter. Beutel Goodman & Co Ltd. now owns 2,843,202 shares of the company’s stock worth $87,692,000 after acquiring an additional 480,296 shares during the last quarter. Institutional investors own 51.66% of the company’s stock.
Several brokerages have recently weighed in on CPB. Piper Jaffray Companies set a $35.00 price objective on shares of Campbell Soup and gave the stock a “sell” rating in a research report on Tuesday, August 14th. Wells Fargo & Co set a $42.00 price objective on shares of Campbell Soup and gave the stock a “hold” rating in a research report on Monday. Zacks Investment Research downgraded shares of Campbell Soup from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 19th. Sanford C. Bernstein set a $33.00 price objective on shares of Campbell Soup and gave the stock a “sell” rating in a research report on Tuesday, May 22nd. Finally, TheStreet downgraded shares of Campbell Soup from a “b-” rating to a “c” rating in a research report on Friday, May 18th. Eleven research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $41.00.
In other Campbell Soup news, Director Maria Teresa Hilado bought 2,000 shares of the business’s stock in a transaction dated Wednesday, June 6th. The shares were acquired at an average cost of $33.22 per share, with a total value of $66,440.00. Following the acquisition, the director now directly owns 4,330 shares of the company’s stock, valued at approximately $143,842.60. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 37.20% of the company’s stock.
Shares of Campbell Soup stock opened at $42.18 on Tuesday. The firm has a market capitalization of $12.64 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 2.67 and a beta of 0.28. Campbell Soup has a 12 month low of $32.63 and a 12 month high of $54.37. The company has a debt-to-equity ratio of 5.73, a quick ratio of 0.37 and a current ratio of 0.68.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 30th. Stockholders of record on Friday, July 13th were issued a $0.35 dividend. The ex-dividend date was Thursday, July 12th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.32%. Campbell Soup’s payout ratio is 46.05%.
Campbell Soup Company Profile
Campbell Soup Co engages in manufacturing and marketing of convenience food products such as soup, simple meals, snacks, and healthy beverages. It operates through the following segments: 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 businesses in the U.S., Canada and Latin America.
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