Campbell Soup (NYSE:CPB) Shares Sold by New Mexico Educational Retirement Board


The New Mexico Educational Retirement Board lowered its position in shares of Campbell Soup (NYSE:CPB – Get Rating) by 5.6% in the first quarter, Holdings Channel reports. The institutional investor owned 11,712 shares of the company’s stock after selling 700 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Campbell Soup were worth $522,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp increased its holdings in shares of Campbell Soup by 8.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,957,379 shares of the company’s stock worth $165,457,000 after buying an additional 311,779 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Campbell Soup by 111.4% during the 4th quarter. American Century Companies Inc. now owns 52,226 shares of the company’s stock worth $2,270,000 after buying an additional 27,520 shares during the last quarter. Advisor Partners LLC increased its holdings in shares of Campbell Soup by 38.6% during the 4th quarter. Advisor Partners LLC now owns 8,232 shares of the company’s stock worth $358,000 after buying an additional 2,291 shares during the last quarter. Pictet Asset Management SA increased its holdings in shares of Campbell Soup by 3.6% during the 4th quarter. Pictet Asset Management SA now owns 94,306 shares of the company’s stock worth $4,099,000 after buying an additional 3,290 shares during the last quarter. Finally, Yousif Capital Management LLC acquired a new stake in shares of Campbell Soup during the 4th quarter worth approximately $1,493,000. Institutional investors and hedge funds own 51.89% of the company’s stock.

In other news, EVP Craig Slavtcheff sold 13,110 shares of the stock in a transaction dated Thursday, June 23rd. The stock was sold at an average price of $47.00, for a total value of $616,170.00. Following the transaction, the executive vice president now owns 32,242 shares in the company, valued at approximately $1,515,374. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 35.62% of the company’s stock.

CPB has been the subject of several research reports. Royal Bank of Canada downgraded shares of Campbell Soup from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $47.00 to $46.00 in a report on Monday, March 28th. StockNews.com upgraded shares of Campbell Soup from a “hold” rating to a “buy” rating in a report on Saturday, May 14th. Stifel Nicolaus lifted their target price on shares of Campbell Soup from $46.00 to $48.00 in a report on Thursday, June 9th. Credit Suisse Group lifted their target price on shares of Campbell Soup to $46.00 in a report on Thursday, June 9th. Finally, Piper Sandler lifted their target price on shares of Campbell Soup from $45.00 to $47.00 and gave the company a “neutral” rating in a report on Monday, June 13th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $46.10.

CPB stock opened at $47.40 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.69 and a quick ratio of 0.30. The firm has a market capitalization of $14.25 billion, a P/E ratio of 15.14, a P/E/G ratio of 10.33 and a beta of 0.40. The business’s 50-day moving average is $47.32 and its two-hundred day moving average is $45.19. Campbell Soup has a 1 year low of $39.76 and a 1 year high of $51.94.

Campbell Soup (NYSE:CPB – Get Rating) last posted its quarterly earnings results on Wednesday, June 8th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.09. The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.04 billion. Campbell Soup had a return on equity of 26.07% and a net margin of 11.23%. Campbell Soup’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.57 EPS. On average, analysts expect that Campbell Soup will post 2.83 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Stockholders of record on Thursday, July 7th will be issued a $0.37 dividend. The ex-dividend date is Wednesday, July 6th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.12%. Campbell Soup’s payout ratio is currently 47.28%.

About Campbell Soup (GetRating)

Campbell Soup Company, together with its subsidiaries, manufactures and markets food and beverage products 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.

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Institutional Ownership by Quarter for Campbell Soup (NYSE:CPB)



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