Campbell Soup (CPB) Shares Down 5.4%

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Shares of Campbell Soup (NYSE:CPB) dropped 5.4% during trading on Wednesday . The company traded as low as $35.97 and last traded at $36.32. Approximately 6,488,608 shares traded hands during mid-day trading, an increase of 61% from the average daily volume of 4,021,989 shares. The stock had previously closed at $38.40.

CPB has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Campbell Soup from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 5th. Piper Jaffray Companies set a $35.00 target price on shares of Campbell Soup and gave the stock an “underweight” rating in a report on Friday, September 14th. Credit Suisse Group set a $32.00 target price on shares of Campbell Soup and gave the stock a “sell” rating in a report on Friday, July 13th. Wells Fargo & Co reiterated a “hold” rating on shares of Campbell Soup in a report on Friday, October 5th. Finally, Deutsche Bank dropped their target price on shares of Campbell Soup from $40.00 to $36.00 and set a “hold” rating on the stock in a report on Friday, August 31st. Twelve equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Sell” and a consensus price target of $39.87.

The stock has a market cap of $10.92 billion, a P/E ratio of 12.98, a P/E/G ratio of 2.54 and a beta of 0.23. The company has a current ratio of 0.64, a quick ratio of 0.31 and a debt-to-equity ratio of 5.83.

Campbell Soup (NYSE:CPB) last announced its quarterly earnings data on Thursday, August 30th. The company reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.01. Campbell Soup had a net margin of 3.01% and a return on equity of 53.88%. The firm had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the previous year, the firm posted $0.52 earnings per share. The firm’s revenue was up 33.4% on a year-over-year basis. As a group, sell-side analysts predict that Campbell Soup will post 2.43 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 29th. Investors of record on Friday, October 12th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date of this dividend is Thursday, October 11th. Campbell Soup’s payout ratio is presently 48.78%.

In related news, insider Luca Mignini acquired 5,494 shares of the stock in a transaction that occurred on Tuesday, October 2nd. The shares were purchased at an average cost of $36.41 per share, with a total value of $200,036.54. Following the completion of the transaction, the insider now owns 112,990 shares of the company’s stock, valued at approximately $4,113,965.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 37.20% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Seven Eight Capital LP bought a new stake in Campbell Soup in the third quarter worth approximately $711,000. Aperio Group LLC grew its position in Campbell Soup by 13.6% in the third quarter. Aperio Group LLC now owns 152,903 shares of the company’s stock worth $5,601,000 after acquiring an additional 18,290 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Campbell Soup by 77.9% in the third quarter. Nisa Investment Advisors LLC now owns 47,721 shares of the company’s stock worth $1,748,000 after buying an additional 20,900 shares during the last quarter. LFA Lugano Financial Advisors SA lifted its stake in shares of Campbell Soup by 47.6% in the third quarter. LFA Lugano Financial Advisors SA now owns 6,429 shares of the company’s stock worth $235,000 after buying an additional 2,073 shares during the last quarter. Finally, DNB Asset Management AS lifted its stake in shares of Campbell Soup by 19.4% in the third quarter. DNB Asset Management AS now owns 30,813 shares of the company’s stock worth $1,129,000 after buying an additional 5,000 shares during the last quarter. 55.07% of the stock is owned by institutional investors.

About Campbell Soup (NYSE:CPB)

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; and Campbell's tomato juices in the United States, Canada, and Latin America.

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