Citigroup Inc. Sells 55,536 Shares of Campbell Soup (NASDAQ:CPB)

Citigroup Inc. reduced its stake in shares of Campbell Soup (NASDAQ:CPB - Free Report) by 15.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 305,873 shares of the company's stock after selling 55,536 shares during the quarter. Citigroup Inc. owned about 0.10% of Campbell Soup worth $14,963,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of CPB. Van ECK Associates Corp grew its stake in Campbell Soup by 1.9% in the second quarter. Van ECK Associates Corp now owns 8,709,949 shares of the company's stock valued at $393,603,000 after acquiring an additional 161,392 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Campbell Soup by 14.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,876,253 shares of the company's stock valued at $129,971,000 after purchasing an additional 363,736 shares in the last quarter. LSV Asset Management grew its position 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 during the period. Charles Schwab Investment Management Inc. grew its position in shares of Campbell Soup by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,765,632 shares of the company's stock valued at $86,375,000 after purchasing an additional 12,822 shares during the period. Finally, Victory Capital Management Inc. increased its stake in Campbell Soup by 88.2% during the 3rd quarter. Victory Capital Management Inc. now owns 1,192,610 shares of the company's stock worth $58,342,000 after purchasing an additional 558,944 shares in the last quarter. 52.35% of the stock is owned by institutional investors.

Campbell Soup Stock Down 1.1 %

Shares of NASDAQ CPB traded down $0.53 during trading hours on Thursday, hitting $46.07. The company had a trading volume of 1,894,954 shares, compared to its average volume of 2,523,356. The stock has a market capitalization of $13.71 billion, a P/E ratio of 24.38, a price-to-earnings-growth ratio of 2.64 and a beta of 0.19. The company has a quick ratio of 0.22, a current ratio of 0.61 and a debt-to-equity ratio of 1.52. Campbell Soup has a 1-year low of $39.65 and a 1-year high of $52.81. The firm's 50 day moving average is $46.99 and its 200-day moving average is $47.03.

Campbell Soup (NASDAQ:CPB - Get Free Report) last released its quarterly earnings data on Thursday, August 29th. The company reported $0.63 EPS 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%. The firm's revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.50 EPS. On average, analysts expect that Campbell Soup will post 3.2 earnings per share for the current fiscal year.

Campbell Soup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Thursday, October 3rd were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date was Thursday, October 3rd. Campbell Soup's dividend payout ratio (DPR) is presently 78.31%.

Analyst Ratings Changes

A number of brokerages have weighed in on CPB. Sanford C. Bernstein raised shares of Campbell Soup from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $55.00 to $58.00 in a research note on Monday, October 7th. Stifel Nicolaus reaffirmed a "hold" rating and issued a $45.00 target price on shares of Campbell Soup in a research note on Tuesday, August 27th. StockNews.com upgraded Campbell Soup from a "sell" rating to a "hold" rating in a report on Thursday, September 26th. Piper Sandler upgraded Campbell Soup from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $47.00 to $56.00 in a report on Thursday, November 14th. Finally, Royal Bank of Canada upped their price objective on Campbell Soup from $47.00 to $51.00 and gave the stock a "sector perform" rating in a research report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $51.58.

Campbell Soup Company 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.