Campbell Soup (NASDAQ:CPB) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. reduced its position in shares of Campbell Soup (NASDAQ:CPB) by 77.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 312,069 shares of the company’s stock after selling 1,046,360 shares during the quarter. Point72 Asset Management L.P. owned 0.10% of Campbell Soup worth $14,102,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CPB. LSV Asset Management boosted its position in Campbell Soup by 5,022.5% during the second quarter. LSV Asset Management now owns 2,438,300 shares of the company’s stock worth $110,187,000 after purchasing an additional 2,390,700 shares in the last quarter. Van ECK Associates Corp grew its stake in Campbell Soup by 16.6% in the 1st quarter. Van ECK Associates Corp now owns 8,548,557 shares of the company’s stock valued at $379,983,000 after acquiring an additional 1,219,301 shares during the period. Wulff Hansen & CO. increased its holdings in Campbell Soup by 4,419.0% in the 2nd quarter. Wulff Hansen & CO. now owns 732,530 shares of the company’s stock worth $33,103,000 after acquiring an additional 716,320 shares in the last quarter. AMF Tjanstepension AB acquired a new position in Campbell Soup during the first quarter worth $30,128,000. Finally, Armistice Capital LLC lifted its holdings in Campbell Soup by 94.0% during the second quarter. Armistice Capital LLC now owns 1,067,914 shares of the company’s stock valued at $48,259,000 after purchasing an additional 517,550 shares in the last quarter. 52.35% of the stock is currently owned by institutional investors and hedge funds.

Campbell Soup Stock Performance

Campbell Soup stock opened at $48.92 on Tuesday. The stock has a market cap of $14.61 billion, a price-to-earnings ratio of 19.81, a price-to-earnings-growth ratio of 3.02 and a beta of 0.18. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.61 and a quick ratio of 0.22. The firm has a 50 day simple moving average of $49.48 and a 200-day simple moving average of $46.34. Campbell Soup has a 1-year low of $37.94 and a 1-year high of $52.81.

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

Campbell Soup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Shareholders 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 dividend yield of 3.03%. The ex-dividend date is Thursday, October 3rd. Campbell Soup’s dividend payout ratio is presently 59.92%.

Analyst Ratings Changes

Several research analysts recently weighed in on CPB shares. TD Cowen upped their price target on shares of Campbell Soup from $47.00 to $51.00 and gave the stock a “hold” rating in a research report on Thursday, September 12th. Barclays raised their target price on Campbell Soup from $45.00 to $49.00 and gave the company an “underweight” rating in a research report on Thursday, September 12th. StockNews.com upgraded Campbell Soup from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. Royal Bank of Canada raised their price objective on Campbell Soup from $47.00 to $51.00 and gave the company a “sector perform” rating in a report on Friday, September 13th. Finally, 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 report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $49.85.

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.