Nordea Investment Management AB reduced its position in Campbell Soup Co. (NYSE:CPB) by 5.1% during the second quarter, Holdings Channel reports. The fund owned 105,134 shares of the company’s stock after selling 5,637 shares during the period. Nordea Investment Management AB’s holdings in Campbell Soup were worth $6,995,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. raised its stake in Campbell Soup by 11.2% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,064,412 shares of the company’s stock worth $70,820,000 after buying an additional 107,486 shares during the period. Geode Capital Management LLC raised its stake in Campbell Soup by 5.6% in the first quarter. Geode Capital Management LLC now owns 1,835,032 shares of the company’s stock worth $116,867,000 after buying an additional 97,930 shares during the period. Boston Advisors LLC raised its stake in Campbell Soup by 4,278.1% in the second quarter. Boston Advisors LLC now owns 212,340 shares of the company’s stock worth $14,127,000 after buying an additional 207,490 shares during the period. AMP Capital Investors Ltd raised its stake in Campbell Soup by 55.5% in the first quarter. AMP Capital Investors Ltd now owns 141,450 shares of the company’s stock worth $9,076,000 after buying an additional 50,500 shares during the period. Finally, National Pension Service raised its stake in Campbell Soup by 4.7% in the first quarter. National Pension Service now owns 133,348 shares of the company’s stock worth $8,506,000 after buying an additional 5,990 shares during the period. 44.17% of the stock is owned by institutional investors and hedge funds.
Shares of Campbell Soup Co. (NYSE:CPB) traded down 1.20% during mid-day trading on Monday, hitting $53.68. The stock had a trading volume of 2,018,034 shares. The stock’s 50-day moving average price is $55.79 and its 200-day moving average price is $61.14. Campbell Soup Co. has a 52-week low of $47.77 and a 52-week high of $67.89. The firm has a market cap of $16.53 billion, a PE ratio of 29.66 and a beta of 0.38.
Campbell Soup (NYSE:CPB) last posted its quarterly earnings data on Thursday, September 1st. The company reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by $0.04. The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.69 billion. Campbell Soup had a net margin of 7.07% and a return on equity of 59.50%. The business’s revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.43 earnings per share. On average, analysts anticipate that Campbell Soup Co. will post $3.04 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Wednesday, October 12th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.61%. This is a boost from Campbell Soup’s previous quarterly dividend of $0.31. The ex-dividend date is Friday, October 7th. Campbell Soup’s payout ratio is presently 77.78%.
CPB has been the topic of a number of analyst reports. Zacks Investment Research upgraded Campbell Soup from a “sell” rating to a “hold” rating in a research report on Monday, September 26th. Credit Agricole SA reduced their price target on Campbell Soup from $64.00 to $59.00 and set a “market perform” rating on the stock in a research report on Monday, September 12th. Deutsche Bank AG reduced their price target on Campbell Soup from $63.00 to $61.00 and set a “hold” rating on the stock in a research report on Friday, August 26th. Royal Bank Of Canada reduced their price target on Campbell Soup from $62.00 to $58.00 and set a “sector perform” rating on the stock in a research report on Friday, September 2nd. Finally, Citigroup Inc. reduced their price target on Campbell Soup from $67.00 to $63.00 and set a “neutral” rating on the stock in a research report on Friday, September 2nd. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has given a buy rating to the stock. Campbell Soup currently has an average rating of “Hold” and an average price target of $59.83.
In other Campbell Soup news, VP William J. O’shea sold 13,000 shares of Campbell Soup stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $57.74, for a total transaction of $750,620.00. Following the sale, the vice president now directly owns 28,952 shares of the company’s stock, valued at approximately $1,671,688.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jeff Dunn sold 8,459 shares of Campbell Soup stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $56.24, for a total value of $475,734.16. Following the sale, the insider now directly owns 112,775 shares in the company, valued at $6,342,466. The disclosure for this sale can be found here. Company insiders own 37.30% of the company’s stock.
About Campbell Soup
Campbell Soup Company is a food company, which manufactures and markets food products. The Company’s segments include Americas Simple Meals and Beverages; Global Biscuits and Snacks, and Campbell Fresh. The Americas Simple Meals and Beverages segment includes the retail and food service channel businesses.