The Campbell Soup Company (NASDAQ:CPB) Shares Sold by Vestcor Inc

Vestcor Inc lowered its stake in The Campbell Soup Company (NASDAQ:CPB - Free Report) by 39.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 110,428 shares of the company's stock after selling 72,100 shares during the period. Vestcor Inc's holdings in Campbell Soup were worth $4,625,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp raised its position in Campbell Soup by 3.1% during the 3rd quarter. State Street Corp now owns 10,048,679 shares of the company's stock worth $491,581,000 after buying an additional 298,203 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Campbell Soup by 6.1% during the 4th quarter. Van ECK Associates Corp now owns 9,247,213 shares of the company's stock worth $387,273,000 after acquiring an additional 531,281 shares in the last quarter. Geode Capital Management LLC boosted its position in Campbell Soup by 6.5% during the third quarter. Geode Capital Management LLC now owns 5,265,615 shares of the company's stock worth $256,827,000 after purchasing an additional 322,951 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Campbell Soup by 4.9% in the 4th quarter. Bank of New York Mellon Corp now owns 4,237,992 shares of the company's stock valued at $177,487,000 after acquiring an additional 199,470 shares during the period. Finally, Amundi raised its position in shares of Campbell Soup by 23.9% during the 4th quarter. Amundi now owns 1,958,238 shares of the company's stock worth $76,823,000 after purchasing an additional 377,307 shares during the last quarter. Hedge funds and other institutional investors own 52.35% of the company's stock.

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Insider Activity

In related news, EVP Anthony Sanzio sold 2,000 shares of the company's stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $41.90, for a total value of $83,800.00. Following the sale, the executive vice president now owns 16,551 shares of the company's stock, valued at approximately $693,486.90. This represents a 10.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 20.19% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company reduced their target price on shares of 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. Stifel Nicolaus lowered their target price 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. Citigroup cut 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. JPMorgan Chase & Co. lowered shares of Campbell Soup from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $48.00 to $37.00 in a report on Thursday, March 6th. Finally, Consumer Edge reissued an "equal weight" rating on shares of Campbell Soup in a research report on Monday. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, Campbell Soup presently has a consensus rating of "Hold" and an average price target of $45.23.

Campbell Soup Stock Performance

Shares of CPB stock traded down $0.21 during trading hours on Tuesday, hitting $38.80. The stock had a trading volume of 3,524,086 shares, compared to its average volume of 2,586,976. The stock's 50 day moving average is $39.16 and its 200 day moving average is $43.84. The firm has a market capitalization of $11.57 billion, a PE ratio of 21.20, a PEG ratio of 2.71 and a beta of 0.15. The Campbell Soup Company has a twelve month low of $36.92 and a twelve month high of $52.81. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.91 and a quick ratio of 0.50.

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

Campbell Soup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders 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 annualized dividend and a dividend yield of 4.02%. 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.