The Campbell Soup Company (NASDAQ:CPB) Shares Acquired by Cibc World Markets Corp

Cibc World Markets Corp raised its position in shares of The Campbell Soup Company (NASDAQ:CPB) by 14.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,898 shares of the company’s stock after acquiring an additional 9,937 shares during the quarter. Cibc World Markets Corp’s holdings in Campbell Soup were worth $3,220,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Sherman Asset Management Inc. acquired a new position in shares of Campbell Soup during the fourth quarter valued at approximately $36,000. Principal Securities Inc. increased its holdings in shares of Campbell Soup by 45.5% in the fourth quarter. Principal Securities Inc. now owns 927 shares of the company’s stock valued at $39,000 after purchasing an additional 290 shares during the last quarter. Kentucky Trust Co acquired a new stake in shares of Campbell Soup in the fourth quarter valued at approximately $42,000. Quent Capital LLC increased its holdings in shares of Campbell Soup by 77.7% in the fourth quarter. Quent Capital LLC now owns 1,100 shares of the company’s stock valued at $46,000 after purchasing an additional 481 shares during the last quarter. Finally, Stonebridge Financial Group LLC acquired a new stake in shares of Campbell Soup in the fourth quarter valued at approximately $47,000. Institutional investors and hedge funds own 52.35% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on CPB shares. Royal Bank of Canada cut their price target on Campbell Soup from $51.00 to $44.00 and set a “sector perform” rating for the company in a report on Thursday, March 6th. Stifel Nicolaus cut their price target on Campbell Soup from $47.00 to $40.00 and set a “hold” rating for the company in a report on Friday, January 24th. Citigroup cut their price target on Campbell Soup from $39.00 to $37.00 and set a “sell” rating for the company in a report on Thursday, March 6th. Barclays lowered their price objective on Campbell Soup from $49.00 to $46.00 and set an “underweight” rating for the company in a research report on Friday, December 6th. Finally, Stephens reiterated an “overweight” rating on shares of Campbell Soup in a research report on Wednesday, December 4th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $45.23.

Campbell Soup Trading Down 1.4 %

CPB opened at $37.98 on Friday. The Campbell Soup Company has a 52 week low of $36.92 and a 52 week high of $52.81. The business has a fifty day simple moving average of $39.07 and a 200-day simple moving average of $43.61. The firm has a market cap of $11.32 billion, a P/E ratio of 20.75, a P/E/G ratio of 2.71 and a beta of 0.15. The company has a quick ratio of 0.50, a current ratio of 0.91 and a debt-to-equity ratio of 1.74.

Campbell Soup (NASDAQ:CPB) last released its quarterly earnings results on Wednesday, March 5th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.73 by $0.01. The business had revenue of $2.69 billion during 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% on a year-over-year basis. On average, equities analysts expect that The Campbell Soup Company will post 3.15 earnings per share for the current year.

Campbell Soup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Thursday, April 3rd will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend is Thursday, April 3rd. Campbell Soup’s payout ratio is currently 90.17%.

Insider Activity

In other news, EVP Anthony Sanzio sold 2,000 shares of the stock in a transaction 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 directly owns 16,551 shares in the company, valued at approximately $693,486.90. This trade represents a 10.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 20.19% of the company’s stock.

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.