Carlton Hofferkamp & Jenks Wealth Management LLC Lowers Position in Campbell Soup (NASDAQ:CPB)

Carlton Hofferkamp & Jenks Wealth Management LLC cut its position in shares of Campbell Soup (NASDAQ:CPB) by 5.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,715 shares of the company’s stock after selling 500 shares during the quarter. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Campbell Soup were worth $404,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CPB. Victory Capital Management Inc. boosted its holdings in shares of Campbell Soup by 88.2% during the 3rd quarter. Victory Capital Management Inc. now owns 1,192,610 shares of the company’s stock valued at $58,342,000 after buying an additional 558,944 shares in the last quarter. Aigen Investment Management LP bought a new stake in Campbell Soup during the third quarter worth about $574,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in Campbell Soup by 2.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 550,486 shares of the company’s stock worth $26,930,000 after purchasing an additional 11,406 shares during the period. Entropy Technologies LP bought a new position in shares of Campbell Soup during the third quarter valued at approximately $830,000. Finally, Apollon Wealth Management LLC purchased a new position in shares of Campbell Soup during the third quarter valued at approximately $315,000. 52.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CPB has been the subject of a number of analyst reports. Barclays raised their price objective on Campbell Soup from $45.00 to $49.00 and gave the company an “underweight” rating in a research report on Thursday, September 12th. Stifel Nicolaus restated a “hold” rating and set a $45.00 price target on shares of Campbell Soup in a report on Tuesday, August 27th. StockNews.com raised Campbell Soup from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. Argus raised shares of Campbell Soup from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research report on Friday, September 20th. Finally, DA Davidson cut shares of Campbell Soup from a “buy” rating to a “neutral” rating and set a $51.00 target price for the company. in a report on Friday, September 27th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $50.83.

Campbell Soup Trading Down 1.2 %

NASDAQ:CPB opened at $44.24 on Wednesday. The company has a market cap of $13.17 billion, a PE ratio of 23.41, a price-to-earnings-growth ratio of 2.67 and a beta of 0.19. The company has a current ratio of 0.61, a quick ratio of 0.22 and a debt-to-equity ratio of 1.52. The company has a 50 day simple moving average of $48.41 and a two-hundred day simple moving average of $47.10. Campbell Soup has a 12 month low of $39.65 and a 12 month high of $52.81.

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

Campbell Soup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Thursday, October 3rd were given a $0.37 dividend. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.48 annualized dividend and a yield of 3.35%. Campbell Soup’s payout ratio is presently 78.31%.

Campbell Soup 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.