AMF Tjanstepension AB Sells 342,763 Shares of The Campbell Soup Company (NASDAQ:CPB)

AMF Tjanstepension AB trimmed its holdings in shares of The Campbell Soup Company (NASDAQ:CPB) by 81.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 78,792 shares of the company’s stock after selling 342,763 shares during the quarter. AMF Tjanstepension AB’s holdings in Campbell Soup were worth $3,314,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. State Street Corp increased its holdings in Campbell Soup by 3.1% in the 3rd quarter. State Street Corp now owns 10,048,679 shares of the company’s stock valued at $491,581,000 after buying an additional 298,203 shares during the period. Van ECK Associates Corp increased its holdings in Campbell Soup by 6.1% in the 4th quarter. Van ECK Associates Corp now owns 9,247,213 shares of the company’s stock valued at $387,273,000 after buying an additional 531,281 shares during the period. Geode Capital Management LLC increased its holdings in Campbell Soup by 6.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,265,615 shares of the company’s stock valued at $256,827,000 after buying an additional 322,951 shares during the period. Bank of New York Mellon Corp increased its holdings in Campbell Soup by 4.9% in the 4th quarter. Bank of New York Mellon Corp now owns 4,237,992 shares of the company’s stock valued at $177,487,000 after buying an additional 199,470 shares during the period. Finally, Franklin Resources Inc. increased its holdings in Campbell Soup by 1,593.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,904,440 shares of the company’s stock valued at $91,623,000 after buying an additional 1,792,005 shares during the period. 52.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on CPB shares. Stifel Nicolaus decreased their target price on shares of Campbell Soup from $47.00 to $40.00 and set a “hold” rating on the stock in a report on Friday, January 24th. Citigroup reduced their price target on shares of Campbell Soup from $39.00 to $37.00 and set a “sell” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. downgraded shares of Campbell Soup from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $48.00 to $37.00 in a research note on Thursday. Jefferies Financial Group reduced their price target on shares of Campbell Soup from $42.00 to $40.00 and set a “hold” rating on the stock in a research note on Wednesday. Finally, Piper Sandler upgraded shares of Campbell Soup from a “neutral” rating to an “overweight” rating and raised their price target for the company from $47.00 to $56.00 in a research note on Thursday, November 14th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $46.36.

Campbell Soup Stock Up 5.1 %

NASDAQ:CPB opened at $41.81 on Friday. The firm’s 50 day simple moving average is $39.39 and its 200 day simple moving average is $44.31. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.91 and a quick ratio of 0.50. The Campbell Soup Company has a one year low of $36.92 and a one year high of $52.81. The company has a market cap of $12.47 billion, a PE ratio of 22.85, a P/E/G ratio of 2.71 and a beta of 0.15.

Campbell Soup (NASDAQ:CPB) last posted its earnings results on Wednesday, March 5th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.73 by $0.01. Campbell Soup had a net margin of 5.57% and a return on equity of 23.79%. The business had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.74 billion. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. On average, research analysts anticipate that The Campbell Soup Company will post 3.15 earnings per share for the current year.

Campbell Soup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Thursday, April 3rd will be given a $0.39 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.73%. Campbell Soup’s dividend payout ratio (DPR) is currently 90.17%.

Insider Transactions at Campbell Soup

In other news, EVP Anthony Sanzio sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $41.90, for a total value of $83,800.00. Following the transaction, the executive vice president now owns 16,551 shares in the company, valued at approximately $693,486.90. The trade was a 10.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 20.19% of the company’s stock.

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.