1,215,574 Shares in The Campbell Soup Company (NASDAQ:CPB) Bought by Norges Bank

Norges Bank bought a new position in shares of The Campbell Soup Company (NASDAQ:CPB) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,215,574 shares of the company’s stock, valued at approximately $50,908,000. Norges Bank owned about 0.41% of Campbell Soup as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sherman Asset Management Inc. acquired a new stake in shares of Campbell Soup during the fourth quarter worth $36,000. Principal Securities Inc. grew its holdings in Campbell Soup by 45.5% during the 4th quarter. Principal Securities Inc. now owns 927 shares of the company’s stock worth $39,000 after acquiring an additional 290 shares during the period. Kentucky Trust Co bought a new position in shares of Campbell Soup in the 4th quarter worth about $42,000. Quent Capital LLC lifted its stake in shares of Campbell Soup by 77.7% in the 4th quarter. Quent Capital LLC now owns 1,100 shares of the company’s stock valued at $46,000 after purchasing an additional 481 shares during the period. Finally, Stonebridge Financial Group LLC bought a new stake in shares of Campbell Soup during the 4th quarter valued at about $47,000. 52.35% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Campbell Soup

In other news, EVP Charles A. Brawley III sold 2,498 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $40.03, for a total transaction of $99,994.94. Following the completion of the sale, the executive vice president now owns 37,590 shares in the company, valued at $1,504,727.70. This trade represents a 6.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 20.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CPB shares. BNP Paribas raised Campbell Soup to a “strong sell” rating in a research note on Wednesday, February 26th. Stifel Nicolaus cut their target price on shares of Campbell Soup from $47.00 to $40.00 and set a “hold” rating on the stock in a research note on Friday, January 24th. Consumer Edge reaffirmed an “equal weight” rating on shares of Campbell Soup in a research note on Monday, March 17th. Wells Fargo & Company cut their price objective on shares of Campbell Soup from $43.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 6th. Finally, JPMorgan Chase & Co. lowered Campbell Soup from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $48.00 to $37.00 in a research report on Thursday, March 6th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Campbell Soup presently has a consensus rating of “Hold” and an average price target of $44.86.

Campbell Soup Stock Performance

Shares of CPB stock opened at $38.79 on Friday. The Campbell Soup Company has a one year low of $36.92 and a one year high of $52.81. The company has a market cap of $11.57 billion, a P/E ratio of 21.20, a P/E/G ratio of 2.71 and a beta of 0.19. The firm has a 50-day moving average of $39.16 and a 200-day moving average of $42.71. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.91 and a quick ratio of 0.50.

Campbell Soup (NASDAQ:CPB) last posted its earnings results on Wednesday, March 5th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.73 by $0.01. The firm had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $2.74 billion. Campbell Soup had a net margin of 5.57% and a return on equity of 23.79%. The business’s quarterly revenue was up 9.3% on a year-over-year basis. Equities research analysts forecast that The Campbell Soup Company will post 3.15 EPS for the current fiscal year.

Campbell Soup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 4.02%. The ex-dividend date is Thursday, April 3rd. Campbell Soup’s dividend payout ratio is presently 90.17%.

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.