Kentucky Retirement Systems Insurance Trust Fund Lowers Stake in Campbell Soup (NASDAQ:CPB)

Kentucky Retirement Systems Insurance Trust Fund cut its position in shares of Campbell Soup (NASDAQ:CPB) by 8.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,834 shares of the company’s stock after selling 512 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Campbell Soup were worth $285,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. nVerses Capital LLC purchased a new stake in Campbell Soup in the third quarter valued at approximately $34,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Campbell Soup in the second quarter valued at approximately $32,000. Ashton Thomas Securities LLC purchased a new stake in Campbell Soup in the third quarter valued at approximately $39,000. TruNorth Capital Management LLC purchased a new stake in Campbell Soup in the second quarter valued at approximately $44,000. Finally, Rothschild Investment LLC purchased a new stake in Campbell Soup in the second quarter valued at approximately $44,000. 52.35% of the stock is currently owned by hedge funds and other institutional investors.

Campbell Soup Stock Performance

CPB stock opened at $43.53 on Wednesday. The company has a market capitalization of $12.96 billion, a P/E ratio of 23.03, a PEG ratio of 2.57 and a beta of 0.19. The company has a 50-day simple moving average of $47.63 and a 200 day simple moving average of $47.04. Campbell Soup has a fifty-two week low of $39.65 and a fifty-two week high of $52.81. 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 quarterly earnings results on Thursday, August 29th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. Campbell Soup had a net margin of 5.88% and a return on equity of 24.08%. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the prior year, the company earned $0.50 EPS. Campbell Soup’s revenue was up 10.9% on a year-over-year basis. Sell-side analysts predict that Campbell Soup will post 3.2 earnings per share for the current fiscal year.

Campbell Soup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Thursday, October 3rd were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date was Thursday, October 3rd. Campbell Soup’s payout ratio is 78.31%.

Analyst Ratings Changes

CPB has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price target 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. Stifel Nicolaus reaffirmed a “hold” rating and set a $45.00 price target on shares of Campbell Soup in a research report on Tuesday, August 27th. Barclays lifted their price target on shares of 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 raised shares of Campbell Soup from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. Finally, DA Davidson cut shares of Campbell Soup from a “buy” rating to a “neutral” rating and set a $51.00 price target on the stock. in a research report on Friday, September 27th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $51.58.

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.