Steward Partners Investment Advisory LLC lifted its stake in Campbell Soup (NYSE:CPB) by 367.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,590 shares of the company’s stock after purchasing an additional 2,822 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Campbell Soup were worth $132,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in CPB. Benjamin F. Edwards & Company Inc. increased its holdings in Campbell Soup by 1,609.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,564 shares of the company’s stock valued at $104,000 after acquiring an additional 2,414 shares in the last quarter. IMA Wealth Inc. purchased a new position in Campbell Soup during the 2nd quarter valued at about $130,000. Tower Research Capital LLC TRC increased its holdings in Campbell Soup by 766.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,467 shares of the company’s stock valued at $140,000 after acquiring an additional 3,067 shares in the last quarter. Jolley Asset Management LLC purchased a new position in Campbell Soup during the 2nd quarter valued at about $141,000. Finally, Truvestments Capital LLC purchased a new position in Campbell Soup during the 3rd quarter valued at about $150,000. Hedge funds and other institutional investors own 54.86% of the company’s stock.
Shares of NYSE CPB opened at $36.88 on Friday. The stock has a market cap of $11.25 billion, a PE ratio of 12.85, a PEG ratio of 2.63 and a beta of 0.13. Campbell Soup has a 12 month low of $32.63 and a 12 month high of $51.07. The company has a quick ratio of 0.31, a current ratio of 0.64 and a debt-to-equity ratio of 5.83.
The business also recently announced a quarterly dividend, which was paid on Monday, October 29th. Investors of record on Friday, October 12th were given a $0.35 dividend. The ex-dividend date of this dividend was Thursday, October 11th. This represents a $1.40 annualized dividend and a dividend yield of 3.80%. Campbell Soup’s dividend payout ratio is presently 48.78%.
In related news, insider Luca Mignini bought 5,494 shares of the firm’s stock in a transaction that occurred on Tuesday, October 2nd. The shares were acquired 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 $4,113,965.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 37.20% of the stock is currently owned by company insiders.
CPB has been the subject of several recent research reports. Gabelli restated a “buy” rating on shares of Campbell Soup in a report on Monday, July 16th. Wells Fargo & Co set a $42.00 price target on shares of Campbell Soup and gave the stock a “hold” rating in a report on Monday, August 20th. Deutsche Bank lowered their price target on shares of Campbell Soup from $40.00 to $36.00 and set a “hold” rating for the company in a report on Friday, August 31st. Zacks Investment Research upgraded shares of Campbell Soup from a “sell” rating to a “hold” rating in a report on Monday, August 27th. Finally, Royal Bank of Canada lifted their price target on shares of Campbell Soup to $43.00 and gave the stock a “sector perform” rating in a report on Thursday, August 23rd. Twelve analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Campbell Soup has an average rating of “Sell” and a consensus price target of $39.87.
Campbell Soup Company Profile
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; Campbell's tomato juices; and Pacific broth, soups, non-dairy beverages, and other simple meals.
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