Old North State Trust LLC Sells 465 Shares of Campbell Soup (NYSE:CPB)

Old North State Trust LLC reduced its position in Campbell Soup (NYSE:CPB) by 89.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55 shares of the company’s stock after selling 465 shares during the quarter. Old North State Trust LLC’s holdings in Campbell Soup were worth $29,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CPB. Norges Bank bought a new position in Campbell Soup in the 4th quarter valued at about $164,197,000. Envestnet Asset Management Inc. increased its holdings in Campbell Soup by 3,894.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,308,585 shares of the company’s stock valued at $3,114,000 after buying an additional 2,250,789 shares during the period. State Street Corp increased its holdings in Campbell Soup by 16.8% in the 1st quarter. State Street Corp now owns 12,182,043 shares of the company’s stock valued at $542,954,000 after buying an additional 1,749,650 shares during the period. Morgan Stanley increased its holdings in Campbell Soup by 66.9% in the 4th quarter. Morgan Stanley now owns 3,512,543 shares of the company’s stock valued at $199,337,000 after buying an additional 1,408,175 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Campbell Soup by 6.3% in the 1st quarter. Vanguard Group Inc. now owns 23,259,524 shares of the company’s stock valued at $1,036,678,000 after buying an additional 1,387,605 shares during the period. 50.73% of the stock is owned by institutional investors.

Campbell Soup Stock Down 1.0 %

Shares of NYSE CPB opened at $43.05 on Friday. The company has a market capitalization of $12.83 billion, a P/E ratio of 15.05, a price-to-earnings-growth ratio of 3.36 and a beta of 0.34. Campbell Soup has a 52-week low of $40.76 and a 52-week high of $57.78. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.36 and a current ratio of 0.93. The company’s 50 day moving average price is $43.84 and its 200-day moving average price is $49.01.

Campbell Soup (NYSE:CPB) last issued its quarterly earnings results on Thursday, August 31st. The company reported $0.50 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.50. The firm had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.06 billion. Campbell Soup had a net margin of 9.17% and a return on equity of 25.14%. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.56 EPS. Equities analysts forecast that Campbell Soup will post 3.07 earnings per share for the current year.

Insider Transactions at Campbell Soup

In other news, VP Stanley Polomski sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $43.35, for a total value of $346,800.00. Following the transaction, the vice president now owns 33,162 shares in the company, valued at approximately $1,437,572.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 21.05% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $47.00 price target on shares of Campbell Soup in a report on Friday, September 1st. JPMorgan Chase & Co. decreased their price target on shares of Campbell Soup from $49.00 to $47.00 and set a “neutral” rating on the stock in a report on Monday, August 21st. Stifel Nicolaus decreased their price target on shares of Campbell Soup from $48.00 to $45.00 and set a “hold” rating on the stock in a report on Friday, September 1st. StockNews.com assumed coverage on shares of Campbell Soup in a report on Thursday, August 17th. They set a “hold” rating on the stock. Finally, The Goldman Sachs Group decreased their price target on shares of Campbell Soup from $44.00 to $40.00 and set a “sell” rating on the stock in a report on Tuesday, August 22nd. Four investment analysts have rated the stock with a sell rating and ten have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $47.21.

Campbell Soup Profile

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.