Campbell Soup (NASDAQ:CPB) Shares Sold by 1832 Asset Management L.P.

1832 Asset Management L.P. trimmed its stake in shares of Campbell Soup (NASDAQ:CPB) by 7.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,924 shares of the company’s stock after selling 1,943 shares during the period. 1832 Asset Management L.P.’s holdings in Campbell Soup were worth $1,081,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CPB. LSV Asset Management grew its stake in Campbell Soup by 5,022.5% in the 2nd quarter. LSV Asset Management now owns 2,438,300 shares of the company’s stock valued at $110,187,000 after acquiring an additional 2,390,700 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Campbell Soup by 16.6% in the first quarter. Van ECK Associates Corp now owns 8,548,557 shares of the company’s stock valued at $379,983,000 after purchasing an additional 1,219,301 shares during the last quarter. Wulff Hansen & CO. increased its stake in shares of Campbell Soup by 4,419.0% during the 2nd quarter. Wulff Hansen & CO. now owns 732,530 shares of the company’s stock worth $33,103,000 after purchasing an additional 716,320 shares in the last quarter. AMF Tjanstepension AB acquired a new position in shares of Campbell Soup during the 1st quarter worth approximately $30,128,000. Finally, Bank of New York Mellon Corp lifted its stake in Campbell Soup by 21.2% in the 1st quarter. Bank of New York Mellon Corp now owns 3,315,516 shares of the company’s stock valued at $147,375,000 after buying an additional 580,411 shares in the last quarter. Hedge funds and other institutional investors own 52.35% of the company’s stock.

Analysts Set New Price Targets

CPB has been the subject of several recent research reports. Stifel Nicolaus reissued a “hold” rating and set a $45.00 price target on shares of Campbell Soup in a research report on Tuesday, August 27th. StockNews.com upgraded Campbell Soup from a “sell” rating to a “hold” rating in a research report on Thursday. Argus raised shares of Campbell Soup from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research note on Friday, September 20th. Royal Bank of Canada raised their price target on shares of Campbell Soup from $47.00 to $51.00 and gave the stock a “sector perform” rating in a research note on Friday, September 13th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Campbell Soup from $55.00 to $57.00 and gave the company an “overweight” rating in a research report on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $49.69.

Campbell Soup Stock Performance

NASDAQ:CPB opened at $49.42 on Friday. Campbell Soup has a fifty-two week low of $37.94 and a fifty-two week high of $52.81. The firm’s 50 day moving average is $49.42 and its two-hundred day moving average is $46.25. The company has a market cap of $14.75 billion, a P/E ratio of 20.01, a P/E/G ratio of 3.02 and a beta of 0.18. The company has a quick ratio of 0.22, a current ratio of 0.61 and a debt-to-equity ratio of 1.52.

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

Campbell Soup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Thursday, October 3rd will be given 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 (DPR) 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.