1832 Asset Management L.P. Reduces Stock Position in Campbell Soup (NYSE:CPB)

1832 Asset Management L.P. trimmed its holdings in Campbell Soup (NYSE:CPBFree Report) by 1.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 25,987 shares of the company’s stock after selling 409 shares during the period. 1832 Asset Management L.P.’s holdings in Campbell Soup were worth $1,123,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Van ECK Associates Corp grew its position in Campbell Soup by 97.2% in the fourth quarter. Van ECK Associates Corp now owns 7,329,256 shares of the company’s stock worth $316,844,000 after acquiring an additional 3,613,495 shares during the period. Invesco Ltd. raised its stake in shares of Campbell Soup by 6.8% in the third quarter. Invesco Ltd. now owns 5,035,674 shares of the company’s stock valued at $206,865,000 after acquiring an additional 318,983 shares in the last quarter. Norges Bank acquired a new stake in shares of Campbell Soup in the fourth quarter valued at $125,689,000. Northern Trust Corp raised its stake in shares of Campbell Soup by 4.7% in the third quarter. Northern Trust Corp now owns 2,845,931 shares of the company’s stock valued at $116,911,000 after acquiring an additional 127,574 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Campbell Soup by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,688,669 shares of the company’s stock valued at $73,001,000 after acquiring an additional 49,663 shares in the last quarter. 52.35% of the stock is currently owned by hedge funds and other institutional investors.

Campbell Soup Stock Performance

Shares of CPB stock opened at $42.86 on Monday. The stock’s 50-day moving average is $44.67 and its two-hundred day moving average is $43.61. The firm has a market cap of $12.80 billion, a price-to-earnings ratio of 17.35, a PEG ratio of 2.65 and a beta of 0.19. Campbell Soup has a 1 year low of $37.94 and a 1 year high of $46.97. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.43 and a current ratio of 0.62.

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

Campbell Soup Announces Dividend

The business 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 dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend is Wednesday, July 3rd. Campbell Soup’s dividend payout ratio is currently 59.92%.

Wall Street Analysts Forecast Growth

CPB has been the topic of several analyst reports. DA Davidson initiated coverage on Campbell Soup in a research note on Friday, March 1st. They issued a “buy” rating and a $48.00 price objective on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $47.00 price objective on shares of Campbell Soup in a research note on Friday. JPMorgan Chase & Co. raised their price target on Campbell Soup from $47.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. 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. Finally, Wells Fargo & Company raised their price target on Campbell Soup from $45.00 to $47.00 and gave the company an “equal weight” rating in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Campbell Soup currently has a consensus rating of “Hold” and a consensus price target of $46.25.

Check Out Our Latest Stock Analysis on CPB

About Campbell Soup

(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.

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

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