PNC Financial Services Group Inc. Sells 663 Shares of Campbell Soup (NYSE:CPB)

PNC Financial Services Group Inc. lessened its stake in shares of Campbell Soup (NYSE:CPBFree Report) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 146,709 shares of the company’s stock after selling 663 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Campbell Soup were worth $6,342,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Stifel Financial Corp boosted its position in Campbell Soup by 0.4% during the third quarter. Stifel Financial Corp now owns 63,321 shares of the company’s stock valued at $2,601,000 after acquiring an additional 261 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund raised its holdings in shares of Campbell Soup by 4.3% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 6,998 shares of the company’s stock worth $303,000 after acquiring an additional 286 shares during the last quarter. Kingsview Wealth Management LLC raised its holdings in shares of Campbell Soup by 4.6% in the 3rd quarter. Kingsview Wealth Management LLC now owns 6,756 shares of the company’s stock worth $278,000 after acquiring an additional 298 shares during the last quarter. Moors & Cabot Inc. raised its holdings in shares of Campbell Soup by 3.0% in the 3rd quarter. Moors & Cabot Inc. now owns 10,210 shares of the company’s stock worth $419,000 after acquiring an additional 300 shares during the last quarter. Finally, Arizona State Retirement System grew its position in Campbell Soup by 0.7% in the 4th quarter. Arizona State Retirement System now owns 53,226 shares of the company’s stock worth $2,301,000 after purchasing an additional 364 shares in the last quarter. Institutional investors own 52.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CPB shares. Royal Bank of Canada reissued a “sector perform” rating and set a $47.00 target price on shares of Campbell Soup in a research report on Thursday, March 14th. Citigroup raised their price objective on shares of Campbell Soup from $41.00 to $42.00 and gave the stock a “sell” rating in a report on Thursday. Evercore ISI began coverage on shares of Campbell Soup in a research report on Wednesday, March 13th. They set an “in-line” rating and a $49.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on shares of Campbell Soup from $47.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Finally, DA Davidson began coverage on shares of Campbell Soup in a research report on Friday, March 1st. They set a “buy” rating and a $48.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $46.41.

View Our Latest Analysis on Campbell Soup

Campbell Soup Price Performance

Shares of Campbell Soup stock opened at $45.64 on Friday. The firm has a market cap of $13.61 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 3.00 and a beta of 0.23. Campbell Soup has a 12-month low of $37.94 and a 12-month high of $52.12. The company has a quick ratio of 0.43, a current ratio of 1.01 and a debt-to-equity ratio of 1.17. The company’s fifty day simple moving average is $44.55 and its two-hundred day simple moving average is $43.31.

Campbell Soup (NYSE:CPBGet Free Report) last announced its quarterly earnings results on Wednesday, March 6th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The business had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.44 billion. Campbell Soup had a net margin of 8.26% and a return on equity of 23.18%. The company’s revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.80 EPS. As a group, equities analysts expect that Campbell Soup will post 3.05 EPS for the current year.

Campbell Soup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Stockholders of record on Wednesday, July 3rd will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend is Wednesday, July 3rd. Campbell Soup’s payout ratio is 57.81%.

About Campbell Soup

(Free Report)

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.

See Also

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

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