California State Teachers Retirement System reduced its holdings in Campbell Soup (NYSE:CPB) by 0.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 290,116 shares of the company’s stock after selling 891 shares during the quarter. California State Teachers Retirement System owned about 0.10% of Campbell Soup worth $11,062,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Third Point LLC grew its position in shares of Campbell Soup by 16.7% during the 4th quarter. Third Point LLC now owns 21,000,000 shares of the company’s stock worth $692,790,000 after purchasing an additional 3,000,000 shares in the last quarter. Vanguard Group Inc boosted its position in shares of Campbell Soup by 1.1% during the 3rd quarter. Vanguard Group Inc now owns 20,757,540 shares of the company’s stock worth $760,348,000 after acquiring an additional 221,311 shares in the last quarter. BlackRock Inc. boosted its position in shares of Campbell Soup by 3.1% during the 4th quarter. BlackRock Inc. now owns 14,816,506 shares of the company’s stock worth $488,794,000 after acquiring an additional 440,312 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Campbell Soup by 7.1% during the 4th quarter. Bank of New York Mellon Corp now owns 6,723,599 shares of the company’s stock worth $221,812,000 after acquiring an additional 446,435 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. boosted its position in shares of Campbell Soup by 3.9% during the 1st quarter. Beutel Goodman & Co Ltd. now owns 2,955,783 shares of the company’s stock worth $84,337,000 after acquiring an additional 109,593 shares in the last quarter. 52.05% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE CPB traded up $0.32 during mid-day trading on Friday, reaching $40.07. 2,300,109 shares of the company’s stock traded hands, compared to its average volume of 2,581,644. The company has a market capitalization of $11.97 billion, a PE ratio of 13.96, a P/E/G ratio of 3.18 and a beta of 0.46. The business has a 50-day moving average of $39.66. Campbell Soup has a 1-year low of $32.03 and a 1-year high of $43.98. The company has a debt-to-equity ratio of 6.07, a quick ratio of 0.36 and a current ratio of 0.62.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 29th. Stockholders of record on Friday, July 12th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Thursday, July 11th. Campbell Soup’s dividend payout ratio (DPR) is currently 48.78%.
Several analysts recently issued reports on CPB shares. ValuEngine upgraded shares of Campbell Soup from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Zacks Investment Research upgraded shares of Campbell Soup from a “sell” rating to a “hold” rating and set a $45.00 target price on the stock in a research report on Friday, June 7th. Evercore ISI initiated coverage on shares of Campbell Soup in a research report on Tuesday, June 11th. They issued an “in-line” rating and a $43.00 target price on the stock. Wells Fargo & Co raised their price target on shares of Campbell Soup from $38.00 to $41.00 and gave the company a “market perform” rating in a research note on Thursday, June 6th. Finally, Bank of America set a $30.00 target price on shares of Campbell Soup and gave the stock a “sell” rating in a research note on Thursday, February 28th. Seven equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $40.36.
In other news, VP Stanley Polomski sold 9,732 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $41.01, for a total value of $399,109.32. Following the sale, the vice president now owns 24,540 shares of the company’s stock, valued at $1,006,385.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Randall W. Larrimore sold 3,400 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $41.36, for a total transaction of $140,624.00. The disclosure for this sale can be found here. Insiders own 37.20% of the company’s stock.
About Campbell Soup
Campbell Soup Company, together with its subsidiaries, manufactures and markets branded food and beverage products. It operates through three segments: Americas Simple Meals and Beverages, Global Biscuits and Snacks, and Campbell Fresh. The Americas Simple Meals and Beverages segment engages in the retail and food service of Campbell's condensed and ready-to-serve soups; Swanson broth and stocks; Prego pasta sauces; Pace Mexican sauces; Campbell's gravies, pastas, beans, and dinner sauces; Swanson canned poultry products; Plum food and snack products; V8 juices and beverages; Campbell's tomato juices; and Pacific broth, soups, non-dairy beverages, and other simple meals.
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