Forsta AP Fonden Cuts Stock Position in Campbell Soup (NASDAQ:CPB)

Forsta AP Fonden trimmed its position in Campbell Soup (NASDAQ:CPB - Free Report) by 30.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,400 shares of the company's stock after selling 16,000 shares during the period. Forsta AP Fonden's holdings in Campbell Soup were worth $1,781,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of CPB. Norden Group LLC bought a new position in shares of Campbell Soup in the 1st quarter valued at about $560,000. First Trust Direct Indexing L.P. increased its holdings in Campbell Soup by 3.3% during the first quarter. First Trust Direct Indexing L.P. now owns 10,136 shares of the company's stock worth $451,000 after buying an additional 328 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in Campbell Soup by 9.6% in the first quarter. Commonwealth Equity Services LLC now owns 65,118 shares of the company's stock valued at $2,895,000 after acquiring an additional 5,679 shares during the last quarter. HB Wealth Management LLC grew its position in shares of Campbell Soup by 6.3% in the 1st quarter. HB Wealth Management LLC now owns 5,872 shares of the company's stock valued at $261,000 after acquiring an additional 349 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Campbell Soup by 158.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 109,658 shares of the company's stock worth $4,874,000 after purchasing an additional 67,175 shares during the last quarter. 52.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on CPB shares. Stifel Nicolaus reiterated a "hold" rating and set a $45.00 price target on shares of Campbell Soup in a report on Tuesday, August 27th. Wells Fargo & Company lifted their price objective on shares of Campbell Soup from $49.00 to $51.00 and gave the stock an "equal weight" rating in a research report on Wednesday, September 11th. TD Cowen raised their target price on shares of Campbell Soup from $47.00 to $51.00 and gave the stock a "hold" rating in a research note on Thursday, September 12th. Royal Bank of Canada upped their target price on Campbell Soup from $47.00 to $51.00 and gave the company a "sector perform" rating in a research report on Friday, September 13th. Finally, Barclays boosted their price target on Campbell Soup from $45.00 to $49.00 and gave the company an "underweight" rating in a research note on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $50.83.

Campbell Soup Price Performance

Shares of CPB traded down $0.03 during mid-day trading on Thursday, reaching $46.65. The company had a trading volume of 1,614,209 shares, compared to its average volume of 2,537,059. The company's 50 day simple moving average is $49.20 and its 200 day simple moving average is $46.98. The company has a market capitalization of $13.93 billion, a price-to-earnings ratio of 18.87, a P/E/G ratio of 2.83 and a beta of 0.18. Campbell Soup has a 1-year low of $39.65 and a 1-year high of $52.81. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.22 and a current ratio of 0.61.

Campbell Soup (NASDAQ:CPB - Get Free Report) last issued its quarterly earnings data 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 analyst estimates of $2.31 billion. Campbell Soup had a return on equity of 24.08% and a net margin of 5.88%. Campbell Soup's quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS. Analysts expect that Campbell Soup will post 3.2 EPS for the current year.

Campbell Soup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Thursday, October 3rd were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend was Thursday, October 3rd. Campbell Soup's dividend payout ratio (DPR) is presently 59.92%.

About Campbell Soup

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.