PNC Financial Services Group Inc. Sells 6,841 Shares of The Campbell Soup Company (NASDAQ:CPB)

PNC Financial Services Group Inc. lowered its position in The Campbell Soup Company (NASDAQ:CPB - Free Report) by 5.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 127,937 shares of the company's stock after selling 6,841 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Campbell Soup were worth $5,358,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Franklin Resources Inc. lifted its position in Campbell Soup by 1,593.8% during the third quarter. Franklin Resources Inc. now owns 1,904,440 shares of the company's stock worth $91,623,000 after purchasing an additional 1,792,005 shares during the period. Raymond James Trust N.A. lifted its holdings in shares of Campbell Soup by 43.8% during the 3rd quarter. Raymond James Trust N.A. now owns 9,228 shares of the company's stock worth $451,000 after acquiring an additional 2,809 shares during the period. Handelsbanken Fonder AB increased its stake in Campbell Soup by 161.8% in the fourth quarter. Handelsbanken Fonder AB now owns 186,277 shares of the company's stock valued at $7,801,000 after acquiring an additional 115,122 shares during the last quarter. ING Groep NV acquired a new position in Campbell Soup during the fourth quarter valued at approximately $1,062,000. Finally, Hussman Strategic Advisors Inc. increased its stake in shares of Campbell Soup by 133.3% in the 4th quarter. Hussman Strategic Advisors Inc. now owns 147,000 shares of the company's stock valued at $6,156,000 after purchasing an additional 84,000 shares during the last quarter. 52.35% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

CPB has been the topic of a number of research reports. DA Davidson decreased their target price on shares of Campbell Soup from $46.00 to $39.00 and set a "neutral" rating on the stock in a research note on Tuesday. Stephens restated an "overweight" rating on shares of Campbell Soup in a research report on Wednesday, December 4th. Wells Fargo & Company dropped their target price on Campbell Soup from $43.00 to $40.00 and set an "equal weight" rating for the company in a research report on Thursday, March 6th. Citigroup reduced their price target on Campbell Soup from $39.00 to $37.00 and set a "sell" rating on the stock in a report on Thursday, March 6th. Finally, JPMorgan Chase & Co. lowered shares of Campbell Soup from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $48.00 to $37.00 in a report on Thursday, March 6th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $45.50.

Insider Buying and Selling at Campbell Soup

In other news, EVP Anthony Sanzio sold 2,000 shares of the firm's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $41.90, for a total value of $83,800.00. Following the completion of the sale, the executive vice president now directly owns 16,551 shares of the company's stock, valued at approximately $693,486.90. This trade represents a 10.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 20.19% of the stock is currently owned by corporate insiders.

Campbell Soup Stock Performance

Shares of Campbell Soup stock traded down $0.11 during trading hours on Thursday, hitting $38.47. 2,978,196 shares of the company's stock traded hands, compared to its average volume of 2,591,398. The company has a fifty day simple moving average of $39.30 and a 200-day simple moving average of $44.04. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.91 and a quick ratio of 0.50. The stock has a market capitalization of $11.47 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 2.71 and a beta of 0.15. The Campbell Soup Company has a 12-month low of $36.92 and a 12-month high of $52.81.

Campbell Soup (NASDAQ:CPB - Get Free Report) last announced its earnings results on Wednesday, March 5th. The company reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.01. The business had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.74 billion. Campbell Soup had a return on equity of 23.79% and a net margin of 5.57%. The firm's quarterly revenue was up 9.3% compared to the same quarter last year. Equities research analysts anticipate that The Campbell Soup Company will post 3.15 EPS for the current fiscal year.

Campbell Soup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Thursday, April 3rd will be given a $0.39 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $1.56 annualized dividend and a yield of 4.06%. Campbell Soup's payout ratio is currently 90.17%.

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.