On September 18, 2023, it was reported that SG Americas Securities LLC had increased its holdings in Campbell Soup (NYSE: CPB) by 47.3% during the second quarter. According to the company’s Form 13F filing with the Securities & Exchange Commission, SG Americas Securities LLC now owns 107,349 shares of Campbell Soup, having purchased an additional 34,484 shares during the quarter. The total value of their holdings is estimated to be $4,907,000 based on their most recent filing with the SEC.
Campbell Soup recently posted its quarterly earnings results on August 31st. The company reported earnings per share (EPS) of $0.50 for the quarter, meeting the consensus estimate of analysts. The firm recorded a revenue of $2.10 billion during the same period, slightly surpassing analyst estimates of $2.06 billion. Campbell Soup also achieved a return on equity of 25.14% and a net margin of 9.17%. These results indicate a positive performance for the company compared to the previous year’s quarter when they earned an EPS of $0.56.
Sell-side analysts have expressed their views on Campbell Soup’s performance as well. Royal Bank of Canada reiterated a “sector perform” rating and established a price target of $47.00 on shares of Campbell Soup in a research report issued on September 1st. Additionally, Bank of America reduced their price target from $51.00 to $49.00 in another research report released on June 8th.
Barclays lowered their price target further down to $45.00 and set an “underweight” rating on Campbell Soup’s stock according to a research report published on September 3rd Deutsche Bank Aktiengesellschaft also adjusted their target price from $52.00 to $49.00 in a report disclosed on August 8th.
Based on a Bloomberg.com analysis, the stock currently holds an average rating of “Hold” and an average price target of $47.21. It is noteworthy that four equities research analysts have given a sell rating to the stock, while ten have provided a hold rating.
Overall, the data suggests that SG Americas Securities LLC has made significant investments in Campbell Soup, signaling confidence in the company’s future prospects. The recent earnings report shows modest growth compared to the previous year, aligning with analyst expectations. It will be interesting to observe how these developments impact Campbell Soup’s performance in the upcoming fiscal year.
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Changes in Institutional Holdings and VP Sale Impact Ownership Structure of Campbell Soup Company (CPB)
Campbell Soup Company (CPB) has recently seen some changes in its holdings among institutional investors and hedge funds. Parkside Financial Bank & Trust, for instance, has increased its holdings in the company by a significant margin. In the first quarter, Parkside Financial Bank & Trust purchased an additional 358 shares of Campbell Soup stock, resulting in a 149.8% increase in its overall holdings. The value of these shares amounts to approximately $27,000.
Gradient Investments LLC also augmented its position in Campbell Soup during the first quarter. With an additional 227 shares acquired during this period, Gradient Investments LLC now owns 519 shares of the company’s stock worth approximately $29,000. These adjustments signify a notable increase of 77.7% in Gradient Investments LLC’s holdings.
Similarly, Altshuler Shaham Ltd and WealthPlan Investment Management LLC both initiated new positions in Campbell Soup during the same timeframe. Altshuler Shaham Ltd purchased shares valued at around $43,000, while WealthPlan Investment Management LLC bought shares worth approximately $48,000.
Exos TFP Holdings LLC also saw an increase in its position with regard to Campbell Soup stock. This hedge fund currently owns 995 shares of the company’s stock worth $55,000 after buying an additional 317 shares during the last quarter – reflecting a rise of 46.8%.
Overall, hedge funds and other institutional investors now hold approximately 50.73% of Campbell Soup’s stock.
In related news, VP Stanley Polomski recently sold 8,000 shares of Campbell Soup stock on September 14th at an average price of $43.35 per share. This transaction resulted in a total value of $346,800 for Polomski. Following this sale, Polomski still retains ownership of 33-162 shares directly within the company – equating to an approximate value of $1,437,572.70. Polomski’s transaction was disclosed in a filing with the Securities & Exchange Commission, and further details can be found through this link.
Looking at CPB’s recent performance, the stock opened at $43.04 on September 18, 2023. It currently has a 50-day moving average price of $43.84 and a 200-day moving average price of $48.96. Campbell Soup has a market cap of $12.83 billion with a price-to-earnings ratio (PE ratio) of 15.05. The company’s debt-to-equity ratio stands at 1.23, while its current ratio is reported as 0.93, and its quick ratio is recorded as 0.36.
It is worth noting that Campbells Soup had a one-year low of $40.76 and a one-year high of $57.78.
In conclusion, Campbell Soup Company has witnessed various adjustments in its holdings among institutional investors and hedge funds recently, indicating some shifts within the company’s ownership structure. Additionally, the sale of shares by VP Stanley Polomski further influences the distribution of ownership within CPB stock.
