Headinvest LLC reduced its position in shares of Campbell Soup Co. (NYSE:CPB) by 4.9% during the second quarter, Holdings Channel reports. The institutional investor owned 5,872 shares of the company’s stock after selling 300 shares during the period. Headinvest LLC’s holdings in Campbell Soup were worth $391,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Campbell Soup during the fourth quarter valued at $113,076,000. DnB Asset Management AS raised its position in shares of Campbell Soup by 28.1% in the first quarter. DnB Asset Management AS now owns 17,313 shares of the company’s stock valued at $1,104,000 after buying an additional 3,800 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of Campbell Soup by 10.6% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 41,568 shares of the company’s stock valued at $2,652,000 after buying an additional 3,980 shares during the period. Exxonmobil Investment Management Inc. TX raised its position in shares of Campbell Soup by 8.8% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 43,781 shares of the company’s stock valued at $2,793,000 after buying an additional 3,525 shares during the period. Finally, GW&K Investment Management LLC raised its position in shares of Campbell Soup by 1.0% in the first quarter. GW&K Investment Management LLC now owns 17,699 shares of the company’s stock valued at $1,129,000 after buying an additional 180 shares during the period. 43.99% of the stock is owned by hedge funds and other institutional investors.

Campbell Soup Co. (NYSE:CPB) traded down 0.56% during mid-day trading on Thursday, reaching $55.39. 1,598,403 shares of the company’s stock were exchanged. The company has a market capitalization of $17.06 billion, a P/E ratio of 30.60 and a beta of 0.31. The company’s 50 day moving average price is $58.81 and its 200-day moving average price is $62.17. Campbell Soup Co. has a 52 week low of $47.77 and a 52 week high of $67.89.

Campbell Soup (NYSE:CPB) last posted its quarterly earnings data on Thursday, September 1st. The company reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by $0.04. Campbell Soup had a net margin of 7.07% and a return on equity of 59.50%. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same period in the prior year, the company earned $0.43 EPS. The company’s revenue was down .4% compared to the same quarter last year. On average, equities research analysts expect that Campbell Soup Co. will post $3.05 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Wednesday, October 12th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, October 7th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.53%. This is an increase from Campbell Soup’s previous quarterly dividend of $0.31. Campbell Soup’s dividend payout ratio is currently 69.44%.

Several brokerages have weighed in on CPB. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $68.00 target price (up previously from $62.00) on shares of Campbell Soup in a research note on Friday, July 15th. Zacks Investment Research lowered shares of Campbell Soup from a “hold” rating to a “sell” rating in a research note on Tuesday, July 26th. Credit Suisse Group AG reaffirmed a “sell” rating and set a $60.00 target price on shares of Campbell Soup in a research note on Thursday, July 28th. Deutsche Bank AG lowered their target price on shares of Campbell Soup from $63.00 to $61.00 and set a “hold” rating for the company in a research note on Friday, August 26th. Finally, Wells Fargo & Co. set a $59.50 target price on shares of Campbell Soup and gave the stock a “hold” rating in a research note on Sunday, September 4th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $59.83.

In other news, insider Jeff Dunn sold 8,459 shares of the company’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $56.24, for a total transaction of $475,734.16. Following the completion of the transaction, the insider now owns 112,775 shares of the company’s stock, valued at approximately $6,342,466. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP William J. O’shea sold 13,000 shares of the company’s stock in a transaction dated Friday, September 2nd. The shares were sold at an average price of $57.74, for a total transaction of $750,620.00. Following the transaction, the vice president now directly owns 28,952 shares of the company’s stock, valued at approximately $1,671,688.48. The disclosure for this sale can be found here. Insiders own 37.70% of the company’s stock.

Campbell Soup Company Profile

Campbell Soup Company manufactures and markets food products. The Company’s segments include U.S. Simple Meals; Global Baking and Snacking; International Simple Meals and Beverages; U.S. Beverages, and Bolthouse and Foodservice. Its U.S. Simple Meals segment includes various products, such as Campbell’s condensed and ready-to-serve soups; Prego pasta sauces, and Pace Mexican sauces.

5 Day Chart for NYSE:CPB

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