Campbell Soup (NASDAQ:CPB) Shares Sold by Steel Grove Capital Advisors LLC

Steel Grove Capital Advisors LLC trimmed its position in Campbell Soup (NASDAQ:CPB) by 3.9% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 40,425 shares of the company’s stock after selling 1,631 shares during the period. Steel Grove Capital Advisors LLC’s holdings in Campbell Soup were worth $1,827,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp grew its position in shares of Campbell Soup by 1.9% in the 2nd quarter. Van ECK Associates Corp now owns 8,709,949 shares of the company’s stock worth $393,603,000 after acquiring an additional 161,392 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Campbell Soup by 21.2% during the first quarter. Bank of New York Mellon Corp now owns 3,315,516 shares of the company’s stock valued at $147,375,000 after purchasing an additional 580,411 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Campbell Soup by 14.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,876,253 shares of the company’s stock worth $129,971,000 after purchasing an additional 363,736 shares during the period. LSV Asset Management lifted its position in shares of Campbell Soup by 5,022.5% in the 2nd quarter. LSV Asset Management now owns 2,438,300 shares of the company’s stock worth $110,187,000 after buying an additional 2,390,700 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in shares of Campbell Soup by 7.3% during the 1st quarter. Nordea Investment Management AB now owns 1,246,867 shares of the company’s stock worth $55,554,000 after purchasing an additional 85,099 shares during the period. 52.35% of the stock is owned by institutional investors.

Campbell Soup Trading Up 0.7 %

Shares of NASDAQ:CPB opened at $51.21 on Monday. The stock has a market capitalization of $15.29 billion, a price-to-earnings ratio of 20.73, a PEG ratio of 3.09 and a beta of 0.18. Campbell Soup has a 1-year low of $37.94 and a 1-year high of $52.81. The company has a 50 day moving average price of $49.19 and a 200 day moving average price of $46.09. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.24 and a current ratio of 0.61.

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, topping analysts’ consensus estimates of $0.62 by $0.01. Campbell Soup had a return on equity of 24.08% and a net margin of 5.88%. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the previous year, the firm posted $0.50 EPS. The company’s quarterly revenue was up 10.9% on a year-over-year basis. On average, research analysts anticipate that Campbell Soup will post 3.18 EPS for the current fiscal year.

Campbell Soup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Thursday, October 3rd will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.89%. The ex-dividend date is Thursday, October 3rd. Campbell Soup’s payout ratio is 59.92%.

Wall Street Analyst Weigh In

CPB has been the subject of a number of recent research reports. Barclays upped their price objective on Campbell Soup from $45.00 to $49.00 and gave the stock an “underweight” rating in a research note on Thursday, September 12th. StockNews.com cut shares of Campbell Soup from a “hold” rating to a “sell” rating in a report on Friday. Royal Bank of Canada boosted their target price on shares of Campbell Soup from $47.00 to $51.00 and gave the company a “sector perform” rating in a research note on Friday, September 13th. TD Cowen raised their price target on shares of Campbell Soup from $47.00 to $51.00 and gave the company a “hold” rating in a research note on Thursday, September 12th. Finally, DA Davidson boosted their price target on shares of Campbell Soup from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Three 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $49.69.

About Campbell Soup

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.