Frank Rimerman Advisors LLC Sells 28,771 Shares of Campbell Soup (NASDAQ:CPB)

Frank Rimerman Advisors LLC cut its holdings in Campbell Soup (NASDAQ:CPB) by 65.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 15,193 shares of the company’s stock after selling 28,771 shares during the period. Frank Rimerman Advisors LLC’s holdings in Campbell Soup were worth $743,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in CPB. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Campbell Soup in the 2nd quarter worth about $32,000. nVerses Capital LLC bought a new stake in Campbell Soup in the 3rd quarter valued at about $34,000. Larson Financial Group LLC increased its position in Campbell Soup by 3,760.9% in the 1st quarter. Larson Financial Group LLC now owns 888 shares of the company’s stock valued at $39,000 after buying an additional 865 shares in the last quarter. TruNorth Capital Management LLC bought a new stake in Campbell Soup in the 2nd quarter valued at about $44,000. Finally, Rothschild Investment LLC bought a new stake in Campbell Soup in the 2nd quarter valued at about $44,000. 52.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

CPB has been the subject of a number of research analyst reports. Royal Bank of Canada boosted their target price on Campbell Soup from $47.00 to $51.00 and gave the company a “sector perform” rating in a research report on Friday, September 13th. Barclays boosted their target price on Campbell Soup from $45.00 to $49.00 and gave the stock an “underweight” rating in a research note on Thursday, September 12th. Sanford C. Bernstein upgraded Campbell Soup from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $55.00 to $58.00 in a research note on Monday, October 7th. Wells Fargo & Company upped their price objective on Campbell Soup from $49.00 to $51.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 11th. Finally, StockNews.com upgraded Campbell Soup from a “sell” rating to a “hold” rating in a research note on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $50.83.

Campbell Soup Trading Up 0.2 %

Shares of CPB stock opened at $47.07 on Monday. The company’s fifty day simple moving average is $49.40 and its two-hundred day simple moving average is $46.92. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.61 and a quick ratio of 0.22. Campbell Soup has a 1 year low of $39.65 and a 1 year high of $52.81. The stock has a market capitalization of $14.05 billion, a price-to-earnings ratio of 19.06, a PEG ratio of 2.83 and a beta of 0.18.

Campbell Soup (NASDAQ:CPB) last issued its earnings results on Thursday, August 29th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Campbell Soup had a net margin of 5.88% and a return on equity of 24.08%. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.50 EPS. As a group, analysts anticipate that Campbell Soup will post 3.2 earnings per share for the current year.

Campbell Soup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Thursday, October 3rd will be issued a $0.37 dividend. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.48 annualized dividend and a dividend yield of 3.14%. Campbell Soup’s payout ratio is currently 59.92%.

Campbell Soup Company Profile

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.