Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of Campbell Soup (NYSE:CPB) by 46.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,566 shares of the company’s stock after selling 43,155 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Campbell Soup were worth $2,009,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Sei Investments Co. increased its holdings in Campbell Soup by 24.8% in the 2nd quarter. Sei Investments Co. now owns 116,513 shares of the company’s stock worth $4,723,000 after buying an additional 23,149 shares in the last quarter. Clear Harbor Asset Management LLC bought a new stake in Campbell Soup in the 2nd quarter worth about $280,000. Financial Counselors Inc. increased its holdings in Campbell Soup by 25.6% in the 2nd quarter. Financial Counselors Inc. now owns 159,592 shares of the company’s stock worth $6,470,000 after buying an additional 32,490 shares in the last quarter. OLD Republic International Corp bought a new stake in Campbell Soup in the 2nd quarter worth about $17,635,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Campbell Soup in the 2nd quarter worth about $817,000. Hedge funds and other institutional investors own 51.66% of the company’s stock.
Several equities research analysts recently commented on the company. Wells Fargo & Co set a $42.00 price objective on Campbell Soup and gave the stock a “hold” rating in a report on Monday. Piper Jaffray Companies set a $35.00 price objective on Campbell Soup and gave the stock a “sell” rating in a report on Tuesday, August 14th. JPMorgan Chase & Co. downgraded Campbell Soup from a “neutral” rating to an “underweight” rating and set a $48.00 price objective for the company. in a report on Friday, August 10th. Gabelli reiterated a “buy” rating on shares of Campbell Soup in a report on Monday, July 16th. Finally, Credit Suisse Group set a $32.00 price objective on Campbell Soup and gave the stock a “sell” rating in a report on Friday, July 13th. Eleven analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $41.00.
NYSE:CPB traded down $0.43 on Wednesday, hitting $41.44. The stock had a trading volume of 12,030 shares, compared to its average volume of 4,720,289. The stock has a market capitalization of $12.64 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 2.67 and a beta of 0.28. The company has a debt-to-equity ratio of 5.73, a quick ratio of 0.37 and a current ratio of 0.68. Campbell Soup has a 52-week low of $32.63 and a 52-week high of $54.37.
The company also recently announced a quarterly dividend, which was paid on Monday, July 30th. Shareholders of record on Friday, July 13th were given a $0.35 dividend. The ex-dividend date was Thursday, July 12th. This represents a $1.40 annualized dividend and a yield of 3.38%. Campbell Soup’s payout ratio is 46.05%.
In other news, Director Maria Teresa Hilado bought 2,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the director now owns 4,330 shares of the company’s stock, valued at approximately $143,842.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 37.20% of the company’s stock.
Campbell Soup 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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