Citigroup Inc. Has $14.96 Million Stake in Campbell Soup (NASDAQ:CPB)

Citigroup Inc. trimmed its holdings in shares of Campbell Soup (NASDAQ:CPB) by 15.4% in the third quarter, HoldingsChannel reports. The firm owned 305,873 shares of the company’s stock after selling 55,536 shares during the period. Citigroup Inc.’s holdings in Campbell Soup were worth $14,963,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. bought a new position in Campbell Soup in the 2nd quarter valued at $32,000. nVerses Capital LLC bought a new position in Campbell Soup in the 3rd quarter valued at $34,000. Ashton Thomas Securities LLC bought a new position in Campbell Soup in the 3rd quarter valued at $39,000. TruNorth Capital Management LLC bought a new position in Campbell Soup in the 2nd quarter valued at $44,000. Finally, Rothschild Investment LLC bought a new position in shares of Campbell Soup in the 2nd quarter worth $44,000. 52.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CPB shares. Sanford C. Bernstein upgraded Campbell Soup from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $55.00 to $58.00 in a research report on Monday, October 7th. Argus upgraded Campbell Soup from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research report on Friday, September 20th. Wells Fargo & Company raised their price target on Campbell Soup from $49.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 11th. Stifel Nicolaus restated a “hold” rating and issued a $45.00 price target on shares of Campbell Soup in a research report on Tuesday, August 27th. Finally, JPMorgan Chase & Co. raised their price target on Campbell Soup from $55.00 to $57.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $51.58.

Campbell Soup Stock Performance

CPB opened at $46.07 on Thursday. The business’s 50-day moving average price is $47.09 and its two-hundred day moving average price is $47.04. Campbell Soup has a 1 year low of $39.65 and a 1 year high of $52.81. The company has a market capitalization of $13.71 billion, a price-to-earnings ratio of 24.38, a P/E/G ratio of 2.64 and a beta of 0.19. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.61 and a quick ratio of 0.22.

Campbell Soup (NASDAQ:CPB) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.01. Campbell Soup had a return on equity of 24.08% and a net margin of 5.88%. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter last year, the business posted $0.50 EPS. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. Equities analysts expect that Campbell Soup will post 3.2 EPS for the current fiscal year.

Campbell Soup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Thursday, October 3rd were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend was Thursday, October 3rd. Campbell Soup’s dividend payout ratio is 78.31%.

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.