Amalgamated Bank increased its stake in Campbell Soup (NYSE:CPB) by 8.4% in the 4th quarter, HoldingsChannel reports. The fund owned 23,218 shares of the company’s stock after acquiring an additional 1,798 shares during the period. Amalgamated Bank’s holdings in Campbell Soup were worth $1,117,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CPB. Beutel Goodman & Co Ltd. purchased a new position in Campbell Soup in the fourth quarter worth about $103,733,000. LSV Asset Management grew its position in Campbell Soup by 215.7% in the fourth quarter. LSV Asset Management now owns 3,095,193 shares of the company’s stock worth $148,909,000 after acquiring an additional 2,114,693 shares in the last quarter. Schroder Investment Management Group grew its position in Campbell Soup by 29.7% in the fourth quarter. Schroder Investment Management Group now owns 4,619,380 shares of the company’s stock worth $222,238,000 after acquiring an additional 1,058,752 shares in the last quarter. Bank of New York Mellon Corp grew its position in Campbell Soup by 16.0% in the third quarter. Bank of New York Mellon Corp now owns 6,493,192 shares of the company’s stock worth $304,011,000 after acquiring an additional 897,314 shares in the last quarter. Finally, Hexavest Inc. grew its position in Campbell Soup by 15,248.8% in the fourth quarter. Hexavest Inc. now owns 733,675 shares of the company’s stock worth $35,297,000 after acquiring an additional 728,895 shares in the last quarter. Institutional investors own 50.21% of the company’s stock.
Shares of Campbell Soup (NYSE:CPB) opened at $43.94 on Wednesday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.64 and a quick ratio of 0.35. The stock has a market cap of $13,109.47, a PE ratio of 12.63, a price-to-earnings-growth ratio of 2.66 and a beta of 0.38. Campbell Soup has a 12 month low of $41.78 and a 12 month high of $59.60.
Campbell Soup announced that its board has authorized a stock buyback plan on Monday, December 18th that authorizes the company to buyback shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
In other news, SVP Carlos Barroso sold 4,300 shares of Campbell Soup stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $48.86, for a total transaction of $210,098.00. Following the completion of the sale, the senior vice president now owns 29,119 shares of the company’s stock, valued at $1,422,754.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Randall W. Larrimore sold 2,242 shares of Campbell Soup stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $48.69, for a total transaction of $109,162.98. The disclosure for this sale can be found here. Insiders have sold 15,284 shares of company stock valued at $741,399 in the last ninety days. Insiders own 37.20% of the company’s stock.
CPB has been the subject of several recent research reports. Citigroup upgraded Campbell Soup from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $45.51 to $57.00 in a research report on Tuesday, January 16th. JPMorgan Chase & Co. reiterated a “hold” rating and issued a $50.00 price target on shares of Campbell Soup in a research report on Friday, December 15th. Piper Jaffray Companies set a $49.00 price target on Campbell Soup and gave the stock a “hold” rating in a research report on Tuesday, November 28th. Royal Bank of Canada reiterated a “hold” rating and issued a $53.00 price target (down previously from $55.00) on shares of Campbell Soup in a research report on Wednesday, November 22nd. Finally, Zacks Investment Research raised shares of Campbell Soup from a “sell” rating to a “hold” rating in a research note on Tuesday, January 23rd. Seven equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. Campbell Soup currently has a consensus rating of “Hold” and a consensus target price of $50.27.
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Campbell Soup 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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