Frank Rimerman Advisors LLC Sells 28,771 Shares of Campbell Soup (NASDAQ:CPB)

Frank Rimerman Advisors LLC reduced its position in Campbell Soup (NASDAQ:CPB - Free Report) by 65.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,193 shares of the company's stock after selling 28,771 shares during the period. Frank Rimerman Advisors LLC's holdings in Campbell Soup were worth $743,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. DekaBank Deutsche Girozentrale lifted its stake in Campbell Soup by 41.1% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 237,552 shares of the company's stock worth $11,663,000 after acquiring an additional 69,230 shares in the last quarter. PFG Investments LLC acquired a new stake in shares of Campbell Soup during the third quarter worth approximately $228,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Campbell Soup by 55.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,696 shares of the company's stock valued at $725,000 after buying an additional 5,268 shares during the period. Ballentine Partners LLC grew its holdings in shares of Campbell Soup by 7.0% during the 3rd quarter. Ballentine Partners LLC now owns 9,384 shares of the company's stock valued at $459,000 after acquiring an additional 616 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Campbell Soup by 11.7% in the third quarter. Assenagon Asset Management S.A. now owns 12,628 shares of the company's stock worth $618,000 after acquiring an additional 1,324 shares during the last quarter. Institutional investors and hedge funds own 52.35% of the company's stock.

Campbell Soup Stock Performance

Campbell Soup stock traded up $0.56 during mid-day trading on Monday, reaching $47.63. The company had a trading volume of 1,536,922 shares, compared to its average volume of 2,549,765. The company has a quick ratio of 0.22, a current ratio of 0.61 and a debt-to-equity ratio of 1.52. The firm has a market cap of $14.22 billion, a price-to-earnings ratio of 19.28, a PEG ratio of 2.83 and a beta of 0.18. The company has a 50 day moving average of $49.40 and a 200-day moving average of $46.92. Campbell Soup has a 52 week low of $39.65 and a 52 week high of $52.81.

Campbell Soup (NASDAQ:CPB - Get Free Report) last released its earnings results on Thursday, August 29th. The company reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.01. The business had revenue of $2.29 billion for 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 period last year, the business earned $0.50 earnings per share. On average, sell-side analysts expect that Campbell Soup will post 3.2 EPS for the current fiscal year.

Campbell Soup Dividend Announcement

The firm 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. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Thursday, October 3rd. Campbell Soup's payout ratio is 59.92%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CPB shares. Stifel Nicolaus reaffirmed a "hold" rating and issued a $45.00 target price on shares of Campbell Soup in a research report on Tuesday, August 27th. Sanford C. Bernstein upgraded shares of Campbell Soup from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $55.00 to $58.00 in a research note on Monday, October 7th. JPMorgan Chase & Co. lifted their price objective on shares of Campbell Soup from $55.00 to $57.00 and gave the company an "overweight" rating in a research note on Wednesday, September 11th. TD Cowen increased their target price on shares of Campbell Soup from $47.00 to $51.00 and gave the stock a "hold" rating in a research report on Thursday, September 12th. Finally, Argus upgraded Campbell Soup from a "hold" rating to a "buy" rating and set a $59.00 price target for the company in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $50.83.

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.