Campbell Soup (CPB) Holdings Cut by Texas Permanent School Fund

Texas Permanent School Fund lessened its holdings in Campbell Soup (NYSE:CPB) by 8.0% in the third quarter, HoldingsChannel.com reports. The firm owned 43,195 shares of the company’s stock after selling 3,758 shares during the period. Texas Permanent School Fund’s holdings in Campbell Soup were worth $1,582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Campbell Soup by 0.3% during the 2nd quarter. BlackRock Inc. now owns 14,584,732 shares of the company’s stock worth $591,265,000 after acquiring an additional 36,804 shares during the period. Morgan Stanley grew its stake in shares of Campbell Soup by 1,223.0% during the 2nd quarter. Morgan Stanley now owns 5,721,091 shares of the company’s stock worth $231,933,000 after acquiring an additional 5,288,651 shares during the period. Brandywine Managers LLC grew its stake in shares of Campbell Soup by 51.2% during the 2nd quarter. Brandywine Managers LLC now owns 5,609,014 shares of the company’s stock worth $227,389,000 after acquiring an additional 1,900,000 shares during the period. Third Point LLC bought a new position in shares of Campbell Soup during the 2nd quarter worth $224,997,000. Finally, Beutel Goodman & Co Ltd. grew its stake in shares of Campbell Soup by 20.3% during the 2nd quarter. Beutel Goodman & Co Ltd. now owns 2,843,202 shares of the company’s stock worth $87,692,000 after acquiring an additional 480,296 shares during the period. Hedge funds and other institutional investors own 54.69% of the company’s stock.

Several research analysts have recently weighed in on CPB shares. Zacks Investment Research upgraded Campbell Soup from a “sell” rating to a “hold” rating in a research note on Monday, August 27th. Credit Suisse Group cut their price target on Campbell Soup from $36.00 to $33.00 and set a “sell” rating for the company in a research note on Friday, September 28th. ValuEngine upgraded Campbell Soup from a “strong sell” rating to a “sell” rating in a research note on Thursday, October 11th. Royal Bank of Canada increased their price target on Campbell Soup to $43.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 23rd. Finally, JPMorgan Chase & Co. downgraded Campbell Soup from a “neutral” rating to an “underweight” rating and set a $48.00 price target for the company. in a research note on Friday, August 10th. Twelve equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Sell” and an average target price of $39.87.

Shares of CPB opened at $38.20 on Friday. The stock has a market cap of $11.54 billion, a P/E ratio of 13.31, a P/E/G ratio of 2.65 and a beta of 0.13. The company has a debt-to-equity ratio of 5.83, a quick ratio of 0.31 and a current ratio of 0.64. Campbell Soup has a 52-week low of $32.63 and a 52-week high of $51.07.

Campbell Soup (NYSE:CPB) last issued its quarterly earnings data on Thursday, August 30th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The business had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Campbell Soup had a return on equity of 53.88% and a net margin of 3.01%. The firm’s quarterly revenue was up 33.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.52 EPS. As a group, research analysts expect that Campbell Soup will post 2.46 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 29th. Investors of record on Friday, October 12th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, October 11th. This represents a $1.40 dividend on an annualized basis and a yield of 3.66%. Campbell Soup’s dividend payout ratio (DPR) is 48.78%.

In related news, insider Luca Mignini acquired 5,494 shares of the company’s stock in a transaction that occurred on Tuesday, October 2nd. The shares were acquired at an average price of $36.41 per share, with a total value of $200,036.54. Following the acquisition, the insider now owns 112,990 shares of the company’s stock, valued at approximately $4,113,965.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 37.20% of the company’s stock.

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About Campbell Soup

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

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