CIBC Asset Management Inc Grows Stock Position in The Campbell Soup Company (NASDAQ:CPB)

CIBC Asset Management Inc boosted its holdings in The Campbell Soup Company (NASDAQ:CPB) by 2.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 37,426 shares of the company’s stock after buying an additional 939 shares during the period. CIBC Asset Management Inc’s holdings in Campbell Soup were worth $1,567,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC acquired a new stake in shares of Campbell Soup in the third quarter worth approximately $39,000. Principal Securities Inc. raised its stake in Campbell Soup by 45.5% during the fourth quarter. Principal Securities Inc. now owns 927 shares of the company’s stock worth $39,000 after purchasing an additional 290 shares during the period. Kentucky Trust Co acquired a new position in shares of Campbell Soup in the 4th quarter valued at $42,000. Quent Capital LLC boosted its holdings 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 last quarter. Finally, Stonebridge Financial Group LLC purchased a new stake in shares of Campbell Soup during the 4th quarter valued at $47,000. Hedge funds and other institutional investors own 52.35% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on CPB shares. Barclays cut their target price on Campbell Soup from $49.00 to $46.00 and set an “underweight” rating on the stock in a research report on Friday, December 6th. DA Davidson reaffirmed a “neutral” rating and issued a $51.00 price objective on shares of Campbell Soup in a research note on Wednesday, December 4th. Wells Fargo & Company decreased their target price on Campbell Soup from $45.00 to $43.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Stifel Nicolaus cut their price target on shares of Campbell Soup from $47.00 to $40.00 and set a “hold” rating on the stock in a report on Friday, January 24th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $51.00 price target on shares of Campbell Soup in a research report on Monday, December 2nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Campbell Soup presently has an average rating of “Hold” and an average target price of $50.17.

Insider Activity at Campbell Soup

In related news, EVP Anthony Sanzio sold 2,000 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $41.90, for a total value 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 legal filing with the SEC, which is accessible through this link. 20.19% of the stock is currently owned by company insiders.

Campbell Soup Trading Up 3.2 %

CPB opened at $40.59 on Friday. The firm’s 50 day moving average is $39.65 and its 200-day moving average is $44.90. The Campbell Soup Company has a 52-week low of $36.92 and a 52-week high of $52.81. The company has a quick ratio of 0.50, a current ratio of 0.91 and a debt-to-equity ratio of 1.74. The firm has a market capitalization of $12.10 billion, a P/E ratio of 22.18, a P/E/G ratio of 2.66 and a beta of 0.19.

Campbell Soup (NASDAQ:CPB) last released its quarterly earnings results on Tuesday, December 3rd. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.02. Campbell Soup had a net margin of 5.57% and a return on equity of 23.79%. Analysts expect that The Campbell Soup Company will post 3.15 EPS for the current fiscal year.

Campbell Soup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Thursday, January 2nd were paid a $0.39 dividend. This is a boost from Campbell Soup’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $1.56 annualized dividend and a dividend yield of 3.84%. Campbell Soup’s payout ratio is 85.25%.

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.