Sequoia Financial Advisors LLC Sells 65,346 Shares of The Campbell Soup Company (NASDAQ:CPB)

Sequoia Financial Advisors LLC lowered its stake in The Campbell Soup Company (NASDAQ:CPB) by 87.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 9,792 shares of the company’s stock after selling 65,346 shares during the period. Sequoia Financial Advisors LLC’s holdings in Campbell Soup were worth $410,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of CPB. Ballentine Partners LLC grew its holdings in Campbell Soup by 2.8% in the 4th quarter. Ballentine Partners LLC now owns 9,646 shares of the company’s stock valued at $404,000 after buying an additional 262 shares in the last quarter. Principal Securities Inc. grew its stake in shares of Campbell Soup by 45.5% in the fourth quarter. Principal Securities Inc. now owns 927 shares of the company’s stock valued at $39,000 after acquiring an additional 290 shares in the last quarter. SPC Financial Inc. raised its stake in Campbell Soup by 2.3% in the 4th quarter. SPC Financial Inc. now owns 13,575 shares of the company’s stock worth $569,000 after purchasing an additional 300 shares in the last quarter. Ascent Wealth Partners LLC grew its position in shares of Campbell Soup by 1.5% during the 4th quarter. Ascent Wealth Partners LLC now owns 20,176 shares of the company’s stock worth $845,000 after purchasing an additional 306 shares in the last quarter. Finally, HB Wealth Management LLC increased its holdings in shares of Campbell Soup by 4.3% during the fourth quarter. HB Wealth Management LLC now owns 7,718 shares of the company’s stock worth $323,000 after purchasing an additional 319 shares during the period. 52.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on CPB. Stephens reiterated an “overweight” rating on shares of Campbell Soup in a research note on Wednesday, December 4th. JPMorgan Chase & Co. cut shares of Campbell Soup from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $48.00 to $37.00 in a research report on Thursday, March 6th. Citigroup decreased their target price on shares of Campbell Soup from $39.00 to $37.00 and set a “sell” rating on the stock in a report on Thursday, March 6th. DA Davidson cut their price target on shares of Campbell Soup from $46.00 to $39.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Finally, Jefferies Financial Group lowered their price objective on shares of Campbell Soup from $42.00 to $40.00 and set a “hold” rating for the company in a research report on Wednesday, March 5th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, Campbell Soup presently has a consensus rating of “Hold” and a consensus target price of $45.23.

Campbell Soup Stock Performance

NASDAQ:CPB opened at $38.80 on Wednesday. The stock’s 50-day moving average is $39.11 and its 200-day moving average is $43.69. The Campbell Soup Company has a 1-year low of $36.92 and a 1-year high of $52.81. The company has a current ratio of 0.91, a quick ratio of 0.50 and a debt-to-equity ratio of 1.74. The stock has a market cap of $11.57 billion, a P/E ratio of 21.20, a price-to-earnings-growth ratio of 2.71 and a beta of 0.15.

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

Campbell Soup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Thursday, April 3rd will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 4.02%. The ex-dividend date is Thursday, April 3rd. Campbell Soup’s dividend payout ratio (DPR) is currently 90.17%.

Insider Activity

In other news, EVP Anthony Sanzio sold 2,000 shares of Campbell Soup 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 completion of the transaction, the executive vice president now directly owns 16,551 shares in the company, valued at $693,486.90. This trade represents a 10.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 20.19% of the company’s stock.

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.