Campbell Soup (NASDAQ:CPB) Shares Sold by Tobam

Tobam lowered its position in shares of Campbell Soup (NASDAQ:CPB) by 26.7% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 184,459 shares of the company’s stock after selling 67,162 shares during the quarter. Campbell Soup comprises about 1.7% of Tobam’s portfolio, making the stock its 18th largest position. Tobam owned about 0.06% of Campbell Soup worth $9,024,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

CPB has been the subject of a number of recent research reports. DA Davidson lowered Campbell Soup from a “buy” rating to a “neutral” rating and set a $51.00 target price for the company. in a report on Friday, September 27th. Wells Fargo & Company raised their price target on Campbell Soup from $49.00 to $51.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 11th. TD Cowen lifted their target price on Campbell Soup from $47.00 to $51.00 and gave the stock a “hold” rating in a research report on Thursday, September 12th. StockNews.com raised Campbell Soup from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. Finally, Argus raised Campbell Soup from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a report on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $50.77.

Campbell Soup Price Performance

Shares of NASDAQ:CPB traded up $0.20 during trading on Thursday, hitting $47.70. 871,251 shares of the stock were exchanged, compared to its average volume of 2,611,040. The company has a current ratio of 0.61, a quick ratio of 0.22 and a debt-to-equity ratio of 1.52. Campbell Soup has a 12-month low of $37.94 and a 12-month high of $52.81. The company has a market cap of $14.24 billion, a PE ratio of 19.23, a P/E/G ratio of 3.02 and a beta of 0.18. The company has a fifty day moving average price of $49.67 and a two-hundred day moving average price of $46.58.

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 the consensus estimate of $0.62 by $0.01. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. Campbell Soup had a return on equity of 24.08% and a net margin of 5.88%. Campbell Soup’s revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.50 EPS. On average, analysts forecast that Campbell Soup will post 3.18 EPS for the current year.

Campbell Soup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Thursday, October 3rd will be issued a dividend of $0.37 per share. The ex-dividend date is Thursday, October 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.10%. Campbell Soup’s payout ratio is 59.92%.

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.