Comerica Bank Increases Position in Campbell Soup (NYSE:CPB)

Comerica Bank increased its stake in shares of Campbell Soup (NYSE:CPBGet Rating) by 3.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,506 shares of the company’s stock after buying an additional 1,198 shares during the quarter. Comerica Bank’s holdings in Campbell Soup were worth $1,948,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CPB. Redhawk Wealth Advisors Inc. grew its stake in shares of Campbell Soup by 36.2% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 23,646 shares of the company’s stock valued at $1,114,000 after purchasing an additional 6,287 shares during the last quarter. CWM LLC increased its stake in Campbell Soup by 15.7% in the 3rd quarter. CWM LLC now owns 2,823 shares of the company’s stock valued at $133,000 after buying an additional 384 shares during the period. Assenagon Asset Management S.A. increased its stake in Campbell Soup by 180.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 14,043 shares of the company’s stock valued at $662,000 after buying an additional 9,043 shares during the period. Robeco Institutional Asset Management B.V. raised its position in Campbell Soup by 17.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 459,143 shares of the company’s stock worth $21,633,000 after buying an additional 66,732 shares during the last quarter. Finally, Veriti Management LLC lifted its stake in shares of Campbell Soup by 15.9% in the 3rd quarter. Veriti Management LLC now owns 8,229 shares of the company’s stock worth $388,000 after acquiring an additional 1,131 shares during the period. Institutional investors and hedge funds own 50.39% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Adam G. Ciongoli sold 37,354 shares of the business’s stock in a transaction that occurred on Wednesday, December 21st. The shares were sold at an average price of $56.86, for a total value of $2,123,948.44. Following the completion of the transaction, the executive vice president now owns 99,385 shares of the company’s stock, valued at $5,651,031.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Adam G. Ciongoli sold 37,354 shares of the company’s stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $56.86, for a total value of $2,123,948.44. Following the completion of the transaction, the executive vice president now directly owns 99,385 shares in the company, valued at $5,651,031.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Adam G. Ciongoli sold 44,232 shares of the firm’s stock in a transaction dated Thursday, December 8th. The stock was sold at an average price of $56.46, for a total value of $2,497,338.72. Following the completion of the sale, the executive vice president now directly owns 136,739 shares in the company, valued at $7,720,283.94. The disclosure for this sale can be found here. 21.05% of the stock is owned by corporate insiders.

Campbell Soup Stock Down 0.4 %

Shares of NYSE CPB opened at $52.39 on Friday. The firm’s 50-day moving average is $54.63 and its two-hundred day moving average is $51.22. The company has a market capitalization of $15.69 billion, a PE ratio of 19.92, a price-to-earnings-growth ratio of 5.42 and a beta of 0.38. Campbell Soup has a 12-month low of $41.72 and a 12-month high of $57.78. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.76 and a quick ratio of 0.31.

Campbell Soup (NYSE:CPBGet Rating) last announced its earnings results on Wednesday, December 7th. The company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.16. Campbell Soup had a return on equity of 26.43% and a net margin of 8.91%. The firm had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter in the prior year, the firm earned $0.89 EPS. Campbell Soup’s quarterly revenue was up 15.2% on a year-over-year basis. Equities analysts anticipate that Campbell Soup will post 2.99 EPS for the current fiscal year.

Campbell Soup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 30th. Shareholders of record on Thursday, January 5th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Wednesday, January 4th. This represents a $1.48 annualized dividend and a dividend yield of 2.82%. Campbell Soup’s dividend payout ratio is currently 56.27%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CPB shares. Credit Suisse Group boosted their price target on shares of Campbell Soup from $52.00 to $54.00 and gave the stock a “neutral” rating in a research note on Thursday, December 8th. Exane BNP Paribas initiated coverage on Campbell Soup in a research note on Tuesday, November 15th. They set an “underperform” rating for the company. Royal Bank of Canada lifted their price target on Campbell Soup from $46.00 to $50.00 in a research note on Thursday, December 8th. BNP Paribas assumed coverage on Campbell Soup in a research report on Tuesday, November 15th. They issued an “underperform” rating and a $48.00 price objective for the company. Finally, Evercore ISI raised their target price on Campbell Soup to $53.00 in a report on Monday, December 12th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $51.09.

About Campbell Soup

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Campbell Soup Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States and internationally. The company operates through Meals & Beverages and Snacks segments. The Meals & Beverages segment engages in the retail and foodservice businesses in the United States and Canada.

See Also

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Institutional Ownership by Quarter for Campbell Soup (NYSE:CPB)

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