M&T Bank Corp reduced its stake in shares of Campbell Soup Co. (NYSE:CPB) by 27.2% during the third quarter, Holdings Channel reports. The fund owned 78,253 shares of the company’s stock after selling 29,181 shares during the period. M&T Bank Corp’s holdings in Campbell Soup were worth $4,281,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the stock. Lucus Advisors LLC increased its position in shares of Campbell Soup by 32.0% in the third quarter. Lucus Advisors LLC now owns 7,204 shares of the company’s stock valued at $394,000 after buying an additional 1,746 shares during the last quarter. Retirement Systems of Alabama increased its position in shares of Campbell Soup by 7.6% in the third quarter. Retirement Systems of Alabama now owns 98,345 shares of the company’s stock valued at $5,379,000 after buying an additional 6,933 shares during the last quarter. Marble Harbor Investment Counsel LLC increased its position in shares of Campbell Soup by 43.8% in the third quarter. Marble Harbor Investment Counsel LLC now owns 4,600 shares of the company’s stock valued at $252,000 after buying an additional 1,400 shares during the last quarter. Guyasuta Investment Advisors Inc. bought a new position in shares of Campbell Soup during the third quarter valued at approximately $306,000. Finally, Smithfield Trust Co. increased its position in shares of Campbell Soup by 16.9% in the third quarter. Smithfield Trust Co. now owns 8,107 shares of the company’s stock valued at $443,000 after buying an additional 1,170 shares during the last quarter. 42.26% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Campbell Soup (NYSE:CPB)

Shares of Campbell Soup Co. (NYSE:CPB) traded up 0.49% during trading on Tuesday, reaching $57.65. 2,456,451 shares of the company were exchanged. Campbell Soup Co. has a one year low of $50.54 and a one year high of $67.89. The stock has a market capitalization of $17.76 billion, a PE ratio of 27.09 and a beta of 0.40. The stock has a 50-day moving average price of $54.30 and a 200-day moving average price of $59.17.

Campbell Soup (NYSE:CPB) last released its quarterly earnings results on Tuesday, November 22nd. The company reported $1.00 EPS for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.05. Campbell Soup had a net margin of 8.30% and a return on equity of 58.62%. The business earned $2.20 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter in the previous year, the company earned $0.95 EPS. The business’s quarterly revenue was up .0% compared to the same quarter last year. Analysts forecast that Campbell Soup Co. will post $3.07 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, January 30th. Shareholders of record on Wednesday, January 11th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Monday, January 9th. This represents a $1.40 dividend on an annualized basis and a yield of 2.43%. Campbell Soup’s dividend payout ratio is presently 66.04%.

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Several brokerages recently commented on CPB. RBC Capital Markets reissued a “sector perform” rating and issued a $60.00 price objective (up previously from $58.00) on shares of Campbell Soup in a research note on Monday. Royal Bank Of Canada increased their price objective on shares of Campbell Soup from $58.00 to $60.00 and gave the company a “sector perform” rating in a research note on Monday. TheStreet raised shares of Campbell Soup from a “hold” rating to a “buy” rating in a research note on Tuesday, November 22nd. Credit Suisse Group AG set a $55.00 price objective on shares of Campbell Soup and gave the company an “underperform” rating in a research note on Wednesday, November 23rd. Finally, Zacks Investment Research raised shares of Campbell Soup from a “sell” rating to a “hold” rating in a research note on Wednesday, November 16th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $59.77.

In other Campbell Soup news, VP William J. O’shea sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $57.74, for a total value of $750,620.00. Following the completion of the transaction, the vice president now owns 28,952 shares of the company’s stock, valued at approximately $1,671,688.48. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Edward Carolan sold 2,400 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $54.35, for a total transaction of $130,440.00. Following the completion of the transaction, the insider now directly owns 49,038 shares of the company’s stock, valued at approximately $2,665,215.30. The disclosure for this sale can be found here. 37.30% of the stock is currently owned by company insiders.

Campbell Soup Company Profile

Campbell Soup Company is a food company, which manufactures and markets food products. The Company’s segments include Americas Simple Meals and Beverages; Global Biscuits and Snacks, and Campbell Fresh. The Americas Simple Meals and Beverages segment includes the retail and food service channel businesses.

5 Day Chart for NYSE:CPB

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