PNC Financial Services Group Inc. Has $6.59 Million Stock Holdings in Campbell Soup (NASDAQ:CPB)

PNC Financial Services Group Inc. trimmed its holdings in Campbell Soup (NASDAQ:CPB) by 3.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 134,778 shares of the company’s stock after selling 5,519 shares during the period. PNC Financial Services Group Inc.’s holdings in Campbell Soup were worth $6,593,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Van ECK Associates Corp raised its position in Campbell Soup by 1.9% in the 2nd quarter. Van ECK Associates Corp now owns 8,709,949 shares of the company’s stock valued at $393,603,000 after buying an additional 161,392 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Campbell Soup by 14.5% in the second 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 during the last quarter. LSV Asset Management raised its holdings in shares of Campbell Soup by 5,022.5% in the second 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 last quarter. Victory Capital Management Inc. boosted its holdings in Campbell Soup by 88.2% during the third 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 during the last quarter. Finally, Armistice Capital LLC grew its position in Campbell Soup by 94.0% in the 2nd quarter. Armistice Capital LLC now owns 1,067,914 shares of the company’s stock worth $48,259,000 after purchasing an additional 517,550 shares in the last quarter. 52.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Stifel Nicolaus reissued a “hold” rating and set a $45.00 target price on shares of Campbell Soup in a research report on Tuesday, August 27th. TD Cowen boosted their price objective on Campbell Soup from $47.00 to $51.00 and gave the stock a “hold” rating in a research report on Thursday, September 12th. Wells Fargo & Company raised their target price on Campbell Soup from $49.00 to $51.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 11th. DA Davidson downgraded shares of Campbell Soup from a “buy” rating to a “neutral” rating and set a $51.00 price target on the stock. in a report on Friday, September 27th. Finally, Argus upgraded shares of Campbell Soup from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $51.58.

Campbell Soup Price Performance

CPB opened at $45.29 on Friday. The company has a market capitalization of $13.48 billion, a price-to-earnings ratio of 23.96, a PEG ratio of 2.56 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. The firm has a 50-day moving average price of $47.30 and a 200-day moving average price of $47.00. Campbell Soup has a twelve month low of $39.65 and a twelve month high of $52.81.

Campbell Soup (NASDAQ:CPB) last issued its earnings results on Thursday, August 29th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Campbell Soup had a net margin of 5.88% and a return on equity of 24.08%. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.50 EPS. Equities analysts expect that Campbell Soup will post 3.2 EPS for the current year.

Campbell Soup Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Thursday, October 3rd were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend was Thursday, October 3rd. Campbell Soup’s payout ratio is presently 78.31%.

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.