1832 Asset Management L.P. Decreases Stake in Campbell Soup (NASDAQ:CPB)

1832 Asset Management L.P. decreased its position in Campbell Soup (NASDAQ:CPB) by 7.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,924 shares of the company’s stock after selling 1,943 shares during the quarter. 1832 Asset Management L.P.’s holdings in Campbell Soup were worth $1,081,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Mather Group LLC. acquired a new position in shares of Campbell Soup during the 1st quarter worth about $28,000. Jones Financial Companies Lllp purchased a new stake in Campbell Soup during the fourth quarter worth approximately $31,000. Larson Financial Group LLC boosted its holdings in Campbell Soup by 3,760.9% in the first quarter. Larson Financial Group LLC now owns 888 shares of the company’s stock valued at $39,000 after purchasing an additional 865 shares in the last quarter. TruNorth Capital Management LLC acquired a new position in Campbell Soup in the second quarter valued at approximately $44,000. Finally, Rothschild Investment LLC purchased a new position in Campbell Soup in the second quarter valued at approximately $44,000. Hedge funds and other institutional investors own 52.35% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on CPB shares. TD Cowen upped their target price on shares of Campbell Soup from $47.00 to $51.00 and gave the company a “hold” rating in a report on Thursday, September 12th. StockNews.com raised Campbell Soup from a “sell” rating to a “hold” rating in a report on Thursday. Barclays lifted their target price on Campbell Soup from $45.00 to $49.00 and gave the stock an “underweight” rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. upped their target price on Campbell Soup from $55.00 to $57.00 and gave the company an “overweight” rating in a research report on Wednesday, September 11th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $45.00 price target on shares of Campbell Soup in a research report on Tuesday, August 27th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $49.69.

Campbell Soup Price Performance

Campbell Soup stock opened at $49.42 on Friday. The business has a 50 day simple moving average of $49.42 and a 200-day simple moving average of $46.25. Campbell Soup has a 12 month low of $37.94 and a 12 month high of $52.81. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.61 and a quick ratio of 0.22. The stock has a market capitalization of $14.75 billion, a PE ratio of 20.01, a price-to-earnings-growth ratio of 3.02 and a beta of 0.18.

Campbell Soup (NASDAQ:CPB) last posted its quarterly earnings results on Thursday, August 29th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.01. Campbell Soup had a net margin of 5.88% and a return on equity of 24.08%. The firm had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the prior year, the company posted $0.50 earnings per share. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. Equities analysts predict that Campbell Soup will post 3.18 earnings per share for the current year.

Campbell Soup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Thursday, October 3rd will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Thursday, October 3rd. Campbell Soup’s dividend payout ratio is presently 59.92%.

About Campbell Soup

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.