PNC Financial Services Group Inc. Sells 5,519 Shares of Campbell Soup (NASDAQ:CPB)

PNC Financial Services Group Inc. lessened its holdings in Campbell Soup (NASDAQ:CPB) by 3.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 134,778 shares of the company’s stock after selling 5,519 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Campbell Soup were worth $6,593,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Blair William & Co. IL raised its holdings in shares of Campbell Soup by 0.5% in the 2nd quarter. Blair William & Co. IL now owns 43,869 shares of the company’s stock valued at $1,982,000 after acquiring an additional 218 shares in the last quarter. Brown Lisle Cummings Inc. increased its position in shares of Campbell Soup by 1.3% in the third quarter. Brown Lisle Cummings Inc. now owns 20,147 shares of the company’s stock worth $986,000 after purchasing an additional 254 shares during the last quarter. Diversified Trust Co raised its stake in Campbell Soup by 0.3% in the third quarter. Diversified Trust Co now owns 87,845 shares of the company’s stock valued at $4,297,000 after purchasing an additional 283 shares in the last quarter. V Square Quantitative Management LLC lifted its position in Campbell Soup by 4.0% during the third quarter. V Square Quantitative Management LLC now owns 7,538 shares of the company’s stock valued at $369,000 after purchasing an additional 287 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV grew its stake in Campbell Soup by 7.4% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 4,225 shares of the company’s stock worth $207,000 after buying an additional 290 shares in the last quarter. Institutional investors own 52.35% of the company’s stock.

Campbell Soup Stock Up 1.9 %

Shares of NASDAQ CPB opened at $45.29 on Friday. The company has a market cap of $13.48 billion, a price-to-earnings ratio of 23.96, a PEG ratio of 2.56 and a beta of 0.19. The company has a quick ratio of 0.22, a current ratio of 0.61 and a debt-to-equity ratio of 1.52. The firm’s fifty day moving average is $47.30 and its 200 day moving average is $47.00. Campbell Soup has a 52 week low of $39.65 and a 52 week high of $52.81.

Campbell Soup (NASDAQ:CPB) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.62 by $0.01. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. Campbell Soup had a net margin of 5.88% and a return on equity of 24.08%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 earnings per share. On average, equities research analysts expect that Campbell Soup will post 3.2 earnings per share for the current year.

Campbell Soup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Thursday, October 3rd were given a $0.37 dividend. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.27%. Campbell Soup’s dividend payout ratio is currently 78.31%.

Wall Street Analysts Forecast Growth

CPB has been the subject of a number of research analyst reports. Barclays lifted their price objective on shares of Campbell Soup from $45.00 to $49.00 and gave the stock an “underweight” rating in a report on Thursday, September 12th. Sanford C. Bernstein upgraded Campbell Soup from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $55.00 to $58.00 in a report on Monday, October 7th. 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. Stifel Nicolaus reaffirmed a “hold” rating and issued a $45.00 target price on shares of Campbell Soup in a research note on Tuesday, August 27th. Finally, Wells Fargo & Company lifted their price target on shares of Campbell Soup from $49.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Campbell Soup has a consensus rating of “Hold” and a consensus target price of $51.58.

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.