Intech Investment Management LLC Trims Holdings in Campbell Soup (NASDAQ:CPB)

Intech Investment Management LLC reduced its position in Campbell Soup (NASDAQ:CPB) by 70.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,342 shares of the company’s stock after selling 64,154 shares during the quarter. Intech Investment Management LLC’s holdings in Campbell Soup were worth $1,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of CPB. M&G Plc purchased a new position in Campbell Soup in the 2nd quarter worth approximately $469,000. Lingohr Asset Management GmbH bought a new position in shares of Campbell Soup during the fourth quarter worth $627,000. First Trust Advisors LP grew its stake in Campbell Soup by 6.5% during the fourth quarter. First Trust Advisors LP now owns 661,401 shares of the company’s stock valued at $28,592,000 after acquiring an additional 40,504 shares in the last quarter. Stephens Inc. AR bought a new stake in Campbell Soup in the 4th quarter valued at $1,211,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in Campbell Soup in the 4th quarter worth $1,045,000. 52.35% of the stock is currently owned by institutional investors.

Campbell Soup Trading Down 1.6 %

NASDAQ CPB opened at $49.65 on Wednesday. Campbell Soup has a 12 month low of $37.94 and a 12 month high of $52.81. The company’s 50-day moving average price is $49.36 and its 200-day moving average price is $46.20. The stock has a market cap of $14.82 billion, a PE ratio of 20.10, a PEG ratio of 3.09 and a beta of 0.18. The company has a current ratio of 0.61, a quick ratio of 0.24 and a debt-to-equity ratio of 1.52.

Campbell Soup (NASDAQ:CPB) last issued its earnings results on Thursday, August 29th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. Campbell Soup had a net margin of 5.88% and a return on equity of 24.08%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period last year, the company posted $0.50 earnings per share. Equities research analysts forecast that Campbell Soup will post 3.18 earnings per share for the current year.

Campbell Soup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Thursday, October 3rd will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Thursday, October 3rd. Campbell Soup’s payout ratio is 59.92%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CPB shares. DA Davidson boosted their target price on Campbell Soup from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Argus raised shares of Campbell Soup from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Friday, September 20th. Royal Bank of Canada boosted their target price on shares of Campbell Soup from $47.00 to $51.00 and gave the stock a “sector perform” rating in a report on Friday, September 13th. TD Cowen increased their price target on shares of Campbell Soup from $47.00 to $51.00 and gave the company a “hold” rating in a report on Thursday, September 12th. Finally, Stifel Nicolaus restated a “hold” rating and set a $45.00 price objective on shares of Campbell Soup in a research report on Tuesday, August 27th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price 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.