Campbell Soup (NASDAQ:CPB) Shares Sold by RK Asset Management LLC

RK Asset Management LLC cut its holdings in Campbell Soup (NASDAQ:CPB) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 136,061 shares of the company’s stock after selling 1,658 shares during the quarter. Campbell Soup comprises approximately 4.7% of RK Asset Management LLC’s portfolio, making the stock its 11th largest holding. RK Asset Management LLC’s holdings in Campbell Soup were worth $5,698,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CPB. Franklin Resources Inc. lifted its holdings in shares of Campbell Soup by 1,593.8% during the third quarter. Franklin Resources Inc. now owns 1,904,440 shares of the company’s stock worth $91,623,000 after purchasing an additional 1,792,005 shares during the period. Raymond James Trust N.A. lifted its stake in shares of Campbell Soup by 43.8% in the 3rd quarter. Raymond James Trust N.A. now owns 9,228 shares of the company’s stock worth $451,000 after acquiring an additional 2,809 shares during the period. FMR LLC boosted its holdings in shares of Campbell Soup by 34.2% in the third quarter. FMR LLC now owns 165,494 shares of the company’s stock valued at $8,096,000 after acquiring an additional 42,216 shares in the last quarter. Centiva Capital LP acquired a new position in shares of Campbell Soup during the third quarter worth about $2,806,000. Finally, Dimensional Fund Advisors LP raised its holdings in Campbell Soup by 14.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,876,253 shares of the company’s stock worth $129,971,000 after purchasing an additional 363,736 shares in the last quarter. 52.35% of the stock is owned by hedge funds and other institutional investors.

Campbell Soup Trading Down 0.7 %

Shares of NASDAQ CPB traded down $0.29 during midday trading on Friday, reaching $41.74. 1,994,482 shares of the stock were exchanged, compared to its average volume of 2,051,841. The stock has a 50 day moving average price of $44.10 and a 200-day moving average price of $46.68. The company has a current ratio of 0.91, a quick ratio of 0.50 and a debt-to-equity ratio of 1.74. The company has a market capitalization of $12.44 billion, a P/E ratio of 22.81, a P/E/G ratio of 2.96 and a beta of 0.18. Campbell Soup has a 52-week low of $40.26 and a 52-week high of $52.81.

Campbell Soup Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Thursday, January 2nd will be issued a $0.39 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This is an increase from Campbell Soup’s previous quarterly dividend of $0.37. This represents a $1.56 annualized dividend and a yield of 3.74%. Campbell Soup’s payout ratio is 85.25%.

Analysts Set New Price Targets

Several research firms have issued reports on CPB. Wells Fargo & Company dropped their target price on Campbell Soup from $51.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 5th. Stifel Nicolaus dropped their price objective on Campbell Soup from $50.00 to $47.00 and set a “hold” rating on the stock in a report on Thursday, December 5th. TD Cowen raised their target price on Campbell Soup from $47.00 to $51.00 and gave the company a “hold” rating in a report on Thursday, September 12th. Barclays lowered their price target on shares of Campbell Soup from $49.00 to $46.00 and set an “underweight” rating on the stock in a research note on Friday, December 6th. Finally, Stephens reiterated an “overweight” rating on shares of Campbell Soup in a research note on Wednesday, December 4th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $50.92.

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.