AMF Tjanstepension AB Sells 342,763 Shares of The Campbell Soup Company (NASDAQ:CPB)

AMF Tjanstepension AB lowered its stake in The Campbell Soup Company (NASDAQ:CPB) by 81.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,792 shares of the company’s stock after selling 342,763 shares during the quarter. AMF Tjanstepension AB’s holdings in Campbell Soup were worth $3,314,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CPB. Franklin Resources Inc. increased its stake in shares of Campbell Soup by 1,593.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,904,440 shares of the company’s stock valued at $91,623,000 after acquiring an additional 1,792,005 shares in the last quarter. Victory Capital Management Inc. increased its stake in Campbell Soup by 88.2% during the 3rd quarter. Victory Capital Management Inc. now owns 1,192,610 shares of the company’s stock valued at $58,342,000 after purchasing an additional 558,944 shares in the last quarter. Van ECK Associates Corp increased its stake in Campbell Soup by 6.1% during the 4th quarter. Van ECK Associates Corp now owns 9,247,213 shares of the company’s stock valued at $387,273,000 after purchasing an additional 531,281 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Campbell Soup during the 4th quarter valued at $21,312,000. Finally, Galvin Gaustad & Stein LLC bought a new stake in Campbell Soup during the 4th quarter valued at $14,769,000. Institutional investors own 52.35% of the company’s stock.

Analysts Set New Price Targets

CPB has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered shares of Campbell Soup from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $48.00 to $37.00 in a research note on Thursday. Wells Fargo & Company decreased their price target on shares of Campbell Soup from $43.00 to $40.00 and set an “equal weight” rating for the company in a research note on Thursday. Stifel Nicolaus decreased their price target on shares of Campbell Soup from $47.00 to $40.00 and set a “hold” rating for the company in a research note on Friday, January 24th. Jefferies Financial Group decreased their price target on shares of Campbell Soup from $42.00 to $40.00 and set a “hold” rating for the company in a research note on Wednesday. Finally, BNP Paribas upgraded shares of Campbell Soup to a “strong sell” rating in a research note on Wednesday, February 26th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $46.36.

Insider Buying and Selling at Campbell Soup

In other Campbell Soup news, EVP Anthony Sanzio sold 2,000 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $41.90, for a total transaction of $83,800.00. Following the sale, the executive vice president now directly owns 16,551 shares of the company’s stock, valued at $693,486.90. This represents a 10.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 20.19% of the company’s stock.

Campbell Soup Price Performance

Shares of NASDAQ:CPB opened at $41.81 on Friday. The company’s 50-day moving average is $39.39 and its 200 day moving average is $44.31. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.50 and a current ratio of 0.91. The company has a market capitalization of $12.47 billion, a P/E ratio of 22.85, a price-to-earnings-growth ratio of 2.71 and a beta of 0.15. The Campbell Soup Company has a fifty-two week low of $36.92 and a fifty-two week high of $52.81.

Campbell Soup (NASDAQ:CPB) last issued its quarterly earnings results on Wednesday, March 5th. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. The company had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.74 billion. Campbell Soup had a net margin of 5.57% and a return on equity of 23.79%. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, equities research analysts forecast that The Campbell Soup Company will post 3.15 earnings per share for the current year.

Campbell Soup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Thursday, April 3rd will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date is Thursday, April 3rd. Campbell Soup’s dividend payout ratio (DPR) is currently 90.17%.

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.