Bank of New York Mellon Corp Acquires 372,346 Shares of Campbell Soup Co. (CPB)
Bank of New York Mellon Corp raised its stake in Campbell Soup Co. (NYSE:CPB) by 8.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,708,445 shares of the company’s stock after buying an additional 372,346 shares during the period. Bank of New York Mellon Corp’s holdings in Campbell Soup were worth $257,551,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Van ECK Associates Corp boosted its position in Campbell Soup by 38.6% in the second quarter. Van ECK Associates Corp now owns 1,740 shares of the company’s stock valued at $116,000 after buying an additional 485 shares in the last quarter. Checchi Capital Advisers LLC increased its stake in shares of Campbell Soup by 9.8% in the second quarter. Checchi Capital Advisers LLC now owns 1,798 shares of the company’s stock valued at $120,000 after buying an additional 161 shares in the last quarter. City Holding Co. increased its stake in shares of Campbell Soup by 86.3% in the third quarter. City Holding Co. now owns 2,590 shares of the company’s stock valued at $142,000 after buying an additional 1,200 shares in the last quarter. Mizuho Asset Management Co. Ltd. increased its stake in shares of Campbell Soup by 69.7% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,388 shares of the company’s stock valued at $159,000 after buying an additional 981 shares in the last quarter. Finally, Winch Advisory Services LLC acquired a new stake in shares of Campbell Soup during the third quarter valued at about $164,000. 42.26% of the stock is owned by institutional investors.
Campbell Soup Co. (NYSE:CPB) opened at 56.89 on Thursday. Campbell Soup Co. has a 12 month low of $50.54 and a 12 month high of $67.89. The company has a market cap of $17.52 billion, a PE ratio of 26.73 and a beta of 0.40. The company has a 50 day moving average price of $54.30 and a 200-day moving average price of $59.17.
Campbell Soup (NYSE:CPB) last announced its quarterly earnings data on Tuesday, November 22nd. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.05. The firm earned $2.20 billion during the quarter, compared to the consensus estimate of $2.20 billion. Campbell Soup had a return on equity of 58.62% and a net margin of 8.30%. The business’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.95 EPS. Equities analysts predict that Campbell Soup Co. will post $3.07 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 30th. Shareholders of record on Wednesday, January 11th will be paid a $0.35 dividend. The ex-dividend date is Monday, January 9th. This represents a $1.40 dividend on an annualized basis and a yield of 2.46%. Campbell Soup’s dividend payout ratio (DPR) is presently 66.04%.
Several equities research analysts have issued reports on the company. TheStreet downgraded Campbell Soup from a “buy” rating to a “hold” rating in a report on Thursday, September 1st. Wells Fargo & Co. set a $59.50 price target on Campbell Soup and gave the company a “hold” rating in a report on Sunday, September 4th. Citigroup Inc. cut their price target on Campbell Soup from $67.00 to $63.00 and set a “neutral” rating for the company in a report on Friday, September 2nd. RBC Capital Markets reaffirmed a “sector perform” rating and set a $58.00 price target (down previously from $62.00) on shares of Campbell Soup in a report on Sunday, September 4th. Finally, Zacks Investment Research raised Campbell Soup from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a report on Wednesday. Three analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. Campbell Soup currently has a consensus rating of “Hold” and an average price target of $59.43.
In other news, insider Edward Carolan sold 2,400 shares of the company’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $54.35, for a total transaction of $130,440.00. Following the transaction, the insider now owns 49,038 shares of the company’s stock, valued at approximately $2,665,215.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Carlos Barroso sold 1,600 shares of the company’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $57.68, for a total value of $92,288.00. Following the transaction, the insider now directly owns 46,888 shares in the company, valued at approximately $2,704,499.84. The disclosure for this sale can be found here. 37.30% of the stock is owned by company insiders.
Campbell Soup Company Profile
Campbell Soup Company is a food company, which manufactures and markets food products. The Company’s segments include 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 channel businesses.
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