Bank of Nova Scotia Trims Position in Campbell Soup (NYSE:CPB)

Bank of Nova Scotia lessened its position in shares of Campbell Soup (NYSE:CPB – Get Rating) by 14.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 35,387 shares of the company’s stock after selling 5,780 shares during the quarter. Bank of Nova Scotia’s holdings in Campbell Soup were worth $2,008,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CPB. Old North State Trust LLC purchased a new stake in Campbell Soup during the third quarter valued at $25,000. EverSource Wealth Advisors LLC increased its position in Campbell Soup by 121.5% during the third quarter. EverSource Wealth Advisors LLC now owns 536 shares of the company’s stock valued at $26,000 after acquiring an additional 294 shares during the last quarter. Exos TFP Holdings LLC purchased a new stake in Campbell Soup during the third quarter valued at $26,000. Parkside Financial Bank & Trust increased its position in Campbell Soup by 149.8% during the first quarter. Parkside Financial Bank & Trust now owns 597 shares of the company’s stock valued at $27,000 after acquiring an additional 358 shares during the last quarter. Finally, SRS Capital Advisors Inc. increased its position in Campbell Soup by 760.5% in the third quarter. SRS Capital Advisors Inc. now owns 654 shares of the company’s stock worth $31,000 after buying an additional 578 shares in the last quarter. Hedge funds and other institutional investors own 50.39% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on CPB shares. Bank of America upped their price target on Campbell Soup from $50.00 to $51.00 in a research report on Thursday, March 9th. Royal Bank of Canada restated a “sector perform” rating and issued a $50.00 price target on shares of Campbell Soup in a research report on Thursday, March 9th. Deutsche Bank Aktiengesellschaft reduced their price target on Campbell Soup from $54.00 to $53.00 and set a “hold” rating for the company in a research report on Monday, March 20th. JPMorgan Chase & Co. upped their price target on Campbell Soup from $53.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, March 9th. Finally, Stifel Nicolaus initiated coverage on Campbell Soup in a research report on Thursday, April 13th. They issued a “hold” rating and a $55.00 price target for the company. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $51.92.

Campbell Soup Price Performance

Shares of Campbell Soup stock opened at $52.68 on Monday. The stock has a 50 day moving average of $54.41 and a 200 day moving average of $53.71. Campbell Soup has a 12 month low of $44.37 and a 12 month high of $57.78. The firm has a market cap of $15.78 billion, a PE ratio of 19.51, a PEG ratio of 4.44 and a beta of 0.34. The company has a current ratio of 0.77, a quick ratio of 0.31 and a debt-to-equity ratio of 1.11.

Campbell Soup (NYSE:CPB – Get Rating) last announced its quarterly earnings results on Wednesday, March 8th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. Campbell Soup had a return on equity of 26.97% and a net margin of 8.86%. The company had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period in the prior year, the company earned $0.69 earnings per share. The firm’s revenue was up 12.5% on a year-over-year basis. On average, research analysts expect that Campbell Soup will post 3.01 EPS for the current fiscal year.

Campbell Soup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 1st. Investors of record on Thursday, April 6th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend was Wednesday, April 5th. Campbell Soup’s payout ratio is presently 54.82%.

Campbell Soup Company Profile

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Campbell Soup Co engages in the business of manufacturing and marketing food and beverage products. It operates under the Meals and Beverages, and Snacks segments. The Meals and Beverages segment includes soup, meals, and beverage products in retail and foodservice. The Snacks segment offers cookies, crackers, bakery, and frozen products.