Campbell Soup (CPB) Shares Sold by BlackRock Inc.

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BlackRock Inc. decreased its stake in shares of Campbell Soup (NYSE:CPB) by 1.4% in the 3rd quarter, Holdings Channel reports. The firm owned 14,376,194 shares of the company’s stock after selling 208,538 shares during the quarter. BlackRock Inc.’s holdings in Campbell Soup were worth $526,601,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CPB. Third Point LLC acquired a new position in Campbell Soup during the second quarter worth approximately $224,997,000. Morgan Stanley increased its position in Campbell Soup by 1,223.0% during the second quarter. Morgan Stanley now owns 5,721,091 shares of the company’s stock worth $231,933,000 after purchasing an additional 5,288,651 shares during the last quarter. Brandywine Managers LLC increased its position in Campbell Soup by 51.2% during the second quarter. Brandywine Managers LLC now owns 5,609,014 shares of the company’s stock worth $227,389,000 after purchasing an additional 1,900,000 shares during the last quarter. Glenmede Trust Co. NA increased its position in Campbell Soup by 267.7% during the second quarter. Glenmede Trust Co. NA now owns 1,190,827 shares of the company’s stock worth $48,277,000 after purchasing an additional 867,002 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in Campbell Soup by 130.1% during the second quarter. Van ECK Associates Corp now owns 973,057 shares of the company’s stock worth $39,448,000 after purchasing an additional 550,110 shares during the last quarter. 53.18% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently issued reports on CPB shares. JPMorgan Chase & Co. lowered shares of Campbell Soup from a “neutral” rating to an “underweight” rating and set a $48.00 price objective for the company. in a research report on Friday, August 10th. Piper Jaffray Companies set a $35.00 price objective on shares of Campbell Soup and gave the stock a “sell” rating in a research report on Tuesday, August 14th. Wells Fargo & Co set a $42.00 price objective on shares of Campbell Soup and gave the stock a “hold” rating in a research report on Monday, August 20th. UBS Group set a $30.00 price objective on shares of Campbell Soup and gave the stock a “sell” rating in a research report on Thursday, August 23rd. Finally, Royal Bank of Canada increased their price objective on shares of Campbell Soup to $43.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 23rd. Nine research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $40.33.

In other news, insider Luca Mignini purchased 5,494 shares of the stock in a transaction that occurred on Tuesday, October 2nd. The stock was acquired at an average cost of $36.41 per share, with a total value of $200,036.54. Following the acquisition, the insider now owns 112,990 shares in the company, valued at $4,113,965.90. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 37.20% of the stock is currently owned by company insiders.

Campbell Soup stock opened at $37.77 on Friday. Campbell Soup has a 52-week low of $32.63 and a 52-week high of $50.66. The firm has a market capitalization of $11.60 billion, a PE ratio of 13.16, a price-to-earnings-growth ratio of 2.65 and a beta of 0.18. The company has a quick ratio of 0.31, a current ratio of 0.69 and a debt-to-equity ratio of 5.65.

Campbell Soup (NYSE:CPB) last released its quarterly earnings results on Tuesday, November 20th. The company reported $0.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.10. The business had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.66 billion. Campbell Soup had a net margin of 1.95% and a return on equity of 53.81%. The business’s revenue was up 24.7% on a year-over-year basis. During the same period last year, the business earned $0.92 EPS. Research analysts anticipate that Campbell Soup will post 2.47 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, January 28th. Investors of record on Wednesday, January 9th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date is Tuesday, January 8th. Campbell Soup’s payout ratio is 48.78%.

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Campbell Soup Profile

Campbell Soup Company, together with its subsidiaries, manufactures and markets branded food and beverage products. It operates through three segments: Americas Simple Meals and Beverages, Global Biscuits and Snacks, and Campbell Fresh. The Americas Simple Meals and Beverages segment engages in the retail and food service of Campbell's condensed and ready-to-serve soups; Swanson broth and stocks; Prego pasta sauces; Pace Mexican sauces; Campbell's gravies, pastas, beans, and dinner sauces; Swanson canned poultry products; Plum food and snack products; V8 juices and beverages; Campbell's tomato juices; and Pacific broth, soups, non-dairy beverages, and other simple meals.

Recommended Story: How can investors find ex-dividend dates?

Want to see what other hedge funds are holding CPB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Campbell Soup (NYSE:CPB).

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

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