Treasurer of the State of North Carolina Increases Position in The Campbell Soup Company (NASDAQ:CPB)

Treasurer of the State of North Carolina lifted its position in shares of The Campbell Soup Company (NASDAQ:CPB) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 84,422 shares of the company’s stock after purchasing an additional 530 shares during the period. Treasurer of the State of North Carolina’s holdings in Campbell Soup were worth $3,536,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CPB. Sherman Asset Management Inc. acquired a new position in shares of Campbell Soup during the 4th quarter worth about $36,000. Principal Securities Inc. lifted its stake in Campbell Soup by 45.5% during the fourth quarter. Principal Securities Inc. now owns 927 shares of the company’s stock worth $39,000 after purchasing an additional 290 shares during the last quarter. Kentucky Trust Co acquired a new position in Campbell Soup in the fourth quarter valued at approximately $42,000. Quent Capital LLC increased its stake in Campbell Soup by 77.7% in the fourth quarter. Quent Capital LLC now owns 1,100 shares of the company’s stock valued at $46,000 after purchasing an additional 481 shares during the last quarter. Finally, Stonebridge Financial Group LLC acquired a new stake in Campbell Soup during the fourth quarter worth approximately $47,000. Hedge funds and other institutional investors own 52.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CPB shares. JPMorgan Chase & Co. downgraded shares of Campbell Soup from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $48.00 to $37.00 in a research report on Thursday, March 6th. Wells Fargo & Company dropped their price objective on Campbell Soup from $43.00 to $40.00 and set an “equal weight” rating on the stock in a report on Thursday, March 6th. Citigroup reduced their target price on Campbell Soup from $39.00 to $37.00 and set a “sell” rating for the company in a report on Thursday, March 6th. BNP Paribas upgraded Campbell Soup to a “strong sell” rating in a research note on Wednesday, February 26th. Finally, Stifel Nicolaus reduced their price objective on Campbell Soup from $47.00 to $40.00 and set a “hold” rating for the company in a research note on Friday, January 24th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Campbell Soup presently has an average rating of “Hold” and a consensus target price of $44.86.

Campbell Soup Trading Down 3.0 %

NASDAQ CPB opened at $37.72 on Wednesday. The company has a quick ratio of 0.50, a current ratio of 0.91 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $11.25 billion, a P/E ratio of 20.61, a P/E/G ratio of 2.71 and a beta of 0.19. The Campbell Soup Company has a 52-week low of $36.02 and a 52-week high of $52.81. The firm has a 50-day moving average price of $39.03 and a 200 day moving average price of $41.96.

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

Campbell Soup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Thursday, April 3rd will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date is Thursday, April 3rd. Campbell Soup’s dividend payout ratio is currently 90.17%.

Insiders Place Their Bets

In other Campbell Soup news, EVP Charles A. Brawley III sold 2,498 shares of the business’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $40.03, for a total transaction of $99,994.94. Following the sale, the executive vice president now directly owns 37,590 shares in the company, valued at approximately $1,504,727.70. The trade was a 6.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 20.19% of the stock is currently owned by company insiders.

Campbell Soup Company Profile

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.