State of New Jersey Common Pension Fund D reduced its position in shares of Campbell Soup Company (NYSE:CPB) by 38.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 380,000 shares of the company’s stock after selling 240,000 shares during the period. State of New Jersey Common Pension Fund D owned 0.13% of Campbell Soup worth $17,792,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. OppenheimerFunds Inc. boosted its position in shares of Campbell Soup by 9.3% in the first quarter. OppenheimerFunds Inc. now owns 17,578 shares of the company’s stock worth $1,006,000 after acquiring an additional 1,489 shares during the last quarter. Teachers Advisors LLC boosted its position in shares of Campbell Soup by 51.0% in the first quarter. Teachers Advisors LLC now owns 437,838 shares of the company’s stock worth $25,062,000 after acquiring an additional 147,875 shares during the last quarter. Thrivent Financial For Lutherans raised its holdings in Campbell Soup by 14.2% in the first quarter. Thrivent Financial For Lutherans now owns 7,660 shares of the company’s stock valued at $438,000 after buying an additional 950 shares during the period. Dimensional Fund Advisors LP raised its holdings in Campbell Soup by 11.6% in the first quarter. Dimensional Fund Advisors LP now owns 875,006 shares of the company’s stock valued at $50,084,000 after buying an additional 90,818 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in Campbell Soup in the first quarter valued at approximately $20,835,000. 46.48% of the stock is currently owned by institutional investors.
CPB has been the subject of several research analyst reports. Zacks Investment Research raised shares of Campbell Soup from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th. Credit Suisse Group AG restated a “sell” rating and set a $43.00 target price (down previously from $47.00) on shares of Campbell Soup in a report on Friday, September 1st. Morgan Stanley reiterated an “underweight” rating and set a $47.00 target price (down from $52.00) on shares of Campbell Soup in a research note on Friday, September 1st. Royal Bank Of Canada set a $56.00 price target on Campbell Soup and gave the company a “hold” rating in a research report on Wednesday, October 25th. Finally, Goldman Sachs Group, Inc. (The) reduced their price objective on Campbell Soup from $49.00 to $45.00 and set a “hold” rating for the company in a report on Sunday, September 3rd. Seven research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. Campbell Soup presently has an average rating of “Hold” and a consensus price target of $50.55.
Campbell Soup Company (NYSE:CPB) traded down $0.15 during midday trading on Tuesday, hitting $47.27. The company’s stock had a trading volume of 1,649,800 shares, compared to its average volume of 1,897,406. Campbell Soup Company has a 1 year low of $44.99 and a 1 year high of $64.23. The company has a market cap of $14,251.06, a price-to-earnings ratio of 15.70, a PEG ratio of 3.48 and a beta of 0.38. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.79 and a quick ratio of 0.42.
Campbell Soup (NYSE:CPB) last announced its earnings results on Thursday, August 31st. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.03). Campbell Soup had a net margin of 11.24% and a return on equity of 59.84%. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the previous year, the company earned $0.46 EPS. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. analysts forecast that Campbell Soup Company will post 3.07 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 30th. Investors of record on Friday, October 13th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend was Thursday, October 12th. Campbell Soup’s dividend payout ratio (DPR) is currently 48.44%.
In other news, Director Charles R. Perrin sold 2,304 shares of the stock in a transaction that occurred on Friday, October 6th. The stock was sold at an average price of $46.46, for a total value of $107,043.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Luca Mignini acquired 4,300 shares of the stock in a transaction dated Wednesday, September 27th. The stock was bought at an average cost of $46.47 per share, with a total value of $199,821.00. Following the completion of the purchase, the insider now owns 88,178 shares of the company’s stock, valued at $4,097,631.66. The disclosure for this purchase can be found here. Corporate insiders own 37.20% of the company’s stock.
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About Campbell Soup
Campbell Soup Company is a food company, which manufactures and markets food products. The Company’s segments include Americas Simple Meals and Beverages; Global Biscuits and Snacks, and Campbell Fresh. The Americas Simple Meals and Beverages segment includes the retail and food service channel businesses.
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