The Campbell Soup Company (NASDAQ:CPB) Shares Acquired by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina increased its stake in shares of The Campbell Soup Company (NASDAQ:CPB) by 0.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,422 shares of the company’s stock after purchasing an additional 530 shares during the period. Treasurer of the State of North Carolina’s holdings in Campbell Soup were worth $3,536,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. LSV Asset Management lifted its position in shares of Campbell Soup by 0.8% in the fourth quarter. LSV Asset Management now owns 3,983,700 shares of the company’s stock valued at $166,837,000 after acquiring an additional 32,300 shares in the last quarter. Bessemer Group Inc. raised its stake in Campbell Soup by 1.7% in the 4th quarter. Bessemer Group Inc. now owns 123,006 shares of the company’s stock valued at $5,152,000 after purchasing an additional 2,034 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Campbell Soup in the 4th quarter valued at about $21,312,000. Bank of Nova Scotia boosted its stake in shares of Campbell Soup by 3.7% during the 4th quarter. Bank of Nova Scotia now owns 36,746 shares of the company’s stock worth $1,538,000 after purchasing an additional 1,326 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Campbell Soup by 38.2% during the fourth quarter. Invesco Ltd. now owns 4,645,548 shares of the company’s stock worth $194,556,000 after buying an additional 1,282,957 shares in the last quarter. Hedge funds and other institutional investors own 52.35% of the company’s stock.

Campbell Soup Stock Performance

Shares of CPB stock opened at $37.72 on Wednesday. The Campbell Soup Company has a 52 week low of $36.02 and a 52 week high of $52.81. The company has a market cap of $11.25 billion, a PE ratio of 20.61, a P/E/G ratio of 2.71 and a beta of 0.19. The company has a current ratio of 0.91, a quick ratio of 0.50 and a debt-to-equity ratio of 1.74. The company’s fifty day simple moving average is $39.03 and its 200-day simple moving average is $41.96.

Campbell Soup (NASDAQ:CPB) last issued its earnings results on Wednesday, March 5th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.01. The company had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.74 billion. Campbell Soup had a return on equity of 23.79% and a net margin of 5.57%. The company’s revenue was up 9.3% compared to the same quarter last year. As a group, equities research analysts anticipate that The Campbell Soup Company will post 3.15 EPS for the current year.

Campbell Soup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.14%. Campbell Soup’s payout ratio is currently 90.17%.

Insider Activity

In related news, EVP Charles A. Brawley III sold 2,498 shares of the business’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $40.03, for a total value of $99,994.94. Following the transaction, the executive vice president now owns 37,590 shares in the company, valued at approximately $1,504,727.70. The trade was a 6.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 20.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. downgraded shares of Campbell Soup from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $48.00 to $37.00 in a research note on Thursday, March 6th. Citigroup decreased their price objective on Campbell Soup from $39.00 to $37.00 and set a “sell” rating on the stock in a report on Thursday, March 6th. Jefferies Financial Group dropped their target price on Campbell Soup from $42.00 to $40.00 and set a “hold” rating for the company in a research note on Wednesday, March 5th. Consumer Edge reissued an “equal weight” rating on shares of Campbell Soup in a research note on Monday, March 17th. Finally, Stifel Nicolaus dropped their price objective on shares of Campbell Soup from $47.00 to $40.00 and set a “hold” rating for the company in a research note on Friday, January 24th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $44.86.

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.