Campbell Soup (NYSE:CPB) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc cut its holdings in shares of Campbell Soup (NYSE:CPBFree Report) by 6.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,408 shares of the company’s stock after selling 2,170 shares during the quarter. CIBC Asset Management Inc’s holdings in Campbell Soup were worth $1,401,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CPB. Massmutual Trust Co. FSB ADV raised its stake in shares of Campbell Soup by 165.7% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the company’s stock valued at $28,000 after acquiring an additional 406 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in shares of Campbell Soup in the 4th quarter valued at about $31,000. Lindbrook Capital LLC boosted its stake in shares of Campbell Soup by 79.9% in the 4th quarter. Lindbrook Capital LLC now owns 1,011 shares of the company’s stock valued at $44,000 after buying an additional 449 shares during the period. Neo Ivy Capital Management acquired a new position in shares of Campbell Soup during the third quarter worth about $67,000. Finally, Headinvest LLC purchased a new stake in shares of Campbell Soup during the third quarter worth approximately $86,000. 52.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CPB. DA Davidson began coverage on shares of Campbell Soup in a research report on Friday, March 1st. They issued a “buy” rating and a $48.00 price objective on the stock. Citigroup raised their price target on Campbell Soup from $41.00 to $42.00 and gave the company a “sell” rating in a research note on Thursday, May 23rd. JPMorgan Chase & Co. lifted their price target on Campbell Soup from $47.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Wells Fargo & Company increased their price objective on Campbell Soup from $45.00 to $47.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $47.00 price target on shares of Campbell Soup in a report on Friday. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $46.25.

Check Out Our Latest Stock Analysis on CPB

Campbell Soup Stock Down 1.5 %

Shares of CPB opened at $42.86 on Friday. The firm has a market cap of $12.80 billion, a PE ratio of 17.35, a price-to-earnings-growth ratio of 2.69 and a beta of 0.19. The company has a quick ratio of 0.43, a current ratio of 0.62 and a debt-to-equity ratio of 1.47. The company’s fifty day moving average is $44.67 and its two-hundred day moving average is $43.59. Campbell Soup has a fifty-two week low of $37.94 and a fifty-two week high of $46.97.

Campbell Soup (NYSE:CPBGet Free Report) last issued its earnings results on Wednesday, June 5th. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.05. The firm had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.34 billion. Campbell Soup had a return on equity of 23.26% and a net margin of 7.85%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.68 earnings per share. Analysts forecast that Campbell Soup will post 3.08 earnings per share for the current year.

Campbell Soup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Wednesday, July 3rd will be issued a $0.37 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.48 annualized dividend and a yield of 3.45%. Campbell Soup’s payout ratio is 59.92%.

Campbell Soup Profile

(Free Report)

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.

Further Reading

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

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