Swiss National Bank Reduces Stock Position in The Campbell Soup Company (NASDAQ:CPB)

Swiss National Bank cut its stake in The Campbell Soup Company (NASDAQ:CPB) by 4.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 546,500 shares of the company’s stock after selling 27,200 shares during the quarter. Swiss National Bank’s holdings in Campbell Soup were worth $22,887,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Assetmark Inc. increased its holdings in Campbell Soup by 170.7% during the 3rd quarter. Assetmark Inc. now owns 1,819 shares of the company’s stock worth $89,000 after acquiring an additional 1,147 shares during the period. Atria Investments Inc increased its holdings in shares of Campbell Soup by 10.7% in the third quarter. Atria Investments Inc now owns 5,600 shares of the company’s stock worth $274,000 after purchasing an additional 541 shares during the period. Apollon Wealth Management LLC purchased a new stake in shares of Campbell Soup in the third quarter worth $315,000. Huntington National Bank boosted its stake in Campbell Soup by 35.3% during the third quarter. Huntington National Bank now owns 2,090 shares of the company’s stock valued at $102,000 after buying an additional 545 shares during the period. Finally, CIBC Asset Management Inc grew its position in Campbell Soup by 6.7% during the third quarter. CIBC Asset Management Inc now owns 36,487 shares of the company’s stock worth $1,785,000 after buying an additional 2,277 shares in the last quarter. 52.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CPB has been the subject of a number of research analyst reports. Consumer Edge reiterated an “equal weight” rating on shares of Campbell Soup in a research report on Monday. JPMorgan Chase & Co. cut shares of Campbell Soup from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $48.00 to $37.00 in a research note on Thursday, March 6th. Jefferies Financial Group lowered their price objective on shares of Campbell Soup from $42.00 to $40.00 and set a “hold” rating on the stock in a research report on Wednesday, March 5th. Barclays reduced their target price on Campbell Soup from $49.00 to $46.00 and set an “underweight” rating on the stock in a research note on Friday, December 6th. Finally, Citigroup dropped their price target on Campbell Soup from $39.00 to $37.00 and set a “sell” rating for the company in a research note on Thursday, March 6th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $45.23.

Campbell Soup Price Performance

CPB stock opened at $39.01 on Tuesday. The stock has a market capitalization of $11.63 billion, a price-to-earnings ratio of 21.32, a PEG ratio of 2.71 and a beta of 0.15. The firm’s 50-day moving average price is $39.16 and its two-hundred day moving average price is $43.84. The company has a current ratio of 0.91, a quick ratio of 0.50 and a debt-to-equity ratio of 1.74. The Campbell Soup Company has a 12-month low of $36.92 and a 12-month high of $52.81.

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

Campbell Soup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Thursday, April 3rd will be issued a $0.39 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.56 annualized dividend and a yield of 4.00%. Campbell Soup’s dividend payout ratio (DPR) is presently 90.17%.

Insider Transactions at Campbell Soup

In other Campbell Soup news, EVP Anthony Sanzio sold 2,000 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $41.90, for a total value of $83,800.00. Following the completion of the sale, the executive vice president now directly owns 16,551 shares in the company, valued at $693,486.90. This trade represents a 10.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 20.19% of the company’s stock.

Campbell Soup 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.