Mackenzie Financial Corp Sells 22,557 Shares of Campbell Soup (NYSE:CPB)

Mackenzie Financial Corp lessened its stake in shares of Campbell Soup (NYSE:CPB) by 43.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,585 shares of the company’s stock after selling 22,557 shares during the period. Mackenzie Financial Corp’s holdings in Campbell Soup were worth $1,279,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Invesco Ltd. increased its position in Campbell Soup by 6.8% during the 3rd quarter. Invesco Ltd. now owns 5,035,674 shares of the company’s stock valued at $206,865,000 after buying an additional 318,983 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Campbell Soup by 2,269.3% in the 3rd quarter. Van ECK Associates Corp now owns 3,715,761 shares of the company’s stock worth $152,643,000 after purchasing an additional 3,558,933 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Campbell Soup by 4.7% in the 3rd quarter. Northern Trust Corp now owns 2,845,931 shares of the company’s stock worth $116,911,000 after purchasing an additional 127,574 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Campbell Soup by 19.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,157,930 shares of the company’s stock worth $88,648,000 after purchasing an additional 349,485 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Campbell Soup by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,639,006 shares of the company’s stock worth $67,330,000 after purchasing an additional 14,555 shares in the last quarter. Institutional investors own 52.35% of the company’s stock.

Campbell Soup Price Performance

Shares of Campbell Soup stock opened at $45.55 on Thursday. The stock’s 50-day simple moving average is $43.09 and its 200-day simple moving average is $42.48. Campbell Soup has a 52 week low of $37.94 and a 52 week high of $55.14. The company has a market capitalization of $13.58 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 2.95 and a beta of 0.24. The company has a quick ratio of 0.43, a current ratio of 1.01 and a debt-to-equity ratio of 1.17.

Campbell Soup (NYSE:CPB) last announced its quarterly earnings data on Wednesday, March 6th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. Campbell Soup had a return on equity of 23.18% and a net margin of 8.26%. The business had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the previous year, the business earned $0.80 earnings per share. The business’s revenue was down 1.2% on a year-over-year basis. As a group, analysts expect that Campbell Soup will post 3.05 earnings per share for the current fiscal year.

Campbell Soup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 29th. Investors of record on Thursday, April 4th will be given a $0.37 dividend. The ex-dividend date is Wednesday, April 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.25%. Campbell Soup’s dividend payout ratio is currently 57.81%.

Analysts Set New Price Targets

CPB has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on Campbell Soup from $47.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Citigroup began coverage on Campbell Soup in a report on Thursday, February 1st. They issued a “sell” rating and a $41.00 price objective for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $47.00 price objective on shares of Campbell Soup in a report on Thursday, March 14th. DA Davidson began coverage on Campbell Soup in a report on Friday, March 1st. They issued a “buy” rating and a $48.00 price objective for the company. Finally, Evercore ISI began coverage on Campbell Soup in a report on Wednesday, March 13th. They issued an “in-line” rating and a $49.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $46.38.

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.