Geode Capital Management LLC Raises Stock Position in The Campbell Soup Company (NASDAQ:CPB)

Geode Capital Management LLC raised its stake in shares of The Campbell Soup Company (NASDAQ:CPB) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,323,332 shares of the company’s stock after buying an additional 57,717 shares during the period. Geode Capital Management LLC owned about 1.79% of Campbell Soup worth $222,420,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rodgers Brothers Inc. boosted its holdings in shares of Campbell Soup by 1.8% in the fourth quarter. Rodgers Brothers Inc. now owns 28,000 shares of the company’s stock worth $1,173,000 after buying an additional 504 shares during the last quarter. Alliancebernstein L.P. raised its position in Campbell Soup by 19.8% in the fourth quarter. Alliancebernstein L.P. now owns 441,221 shares of the company’s stock worth $18,478,000 after acquiring an additional 72,801 shares during the period. Physician Wealth Advisors Inc. purchased a new position in shares of Campbell Soup during the 4th quarter worth $47,000. California Public Employees Retirement System grew its position in shares of Campbell Soup by 1.2% during the 4th quarter. California Public Employees Retirement System now owns 907,798 shares of the company’s stock valued at $38,019,000 after acquiring an additional 10,580 shares during the period. Finally, Allianz SE purchased a new stake in shares of Campbell Soup in the 4th quarter worth $128,000. 52.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Morgan Stanley initiated coverage on Campbell Soup in a research report on Monday, March 24th. They set an “equal weight” rating and a $40.00 price objective on the stock. Royal Bank of Canada cut their price objective on Campbell Soup from $51.00 to $44.00 and set a “sector perform” rating for the company in a research report on Thursday, March 6th. Stifel Nicolaus dropped their price objective on shares of Campbell Soup from $47.00 to $40.00 and set a “hold” rating for the company in a research note on Friday, January 24th. Jefferies Financial Group decreased their target price on shares of Campbell Soup from $42.00 to $40.00 and set a “hold” rating on the stock in a research report on Wednesday, March 5th. Finally, BNP Paribas upgraded Campbell Soup to a “strong sell” rating in a research report on Wednesday, February 26th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $44.86.

Campbell Soup Stock Down 2.6 %

NASDAQ:CPB opened at $38.79 on Friday. The company has a market cap of $11.57 billion, a price-to-earnings ratio of 21.20, a price-to-earnings-growth ratio of 2.71 and a beta of 0.19. The Campbell Soup Company has a twelve month low of $36.92 and a twelve month high of $52.81. 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 stock has a fifty day simple moving average of $39.16 and a 200-day simple moving average of $42.71.

Campbell Soup (NASDAQ:CPB) last announced its quarterly earnings data on Wednesday, March 5th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The company had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.74 billion. Campbell Soup had a net margin of 5.57% and a return on equity of 23.79%. The business’s revenue was up 9.3% compared to the same quarter last year. Analysts anticipate that The Campbell Soup Company will post 3.15 EPS for the current year.

Campbell Soup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Thursday, April 3rd will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.56 annualized dividend and a yield of 4.02%. Campbell Soup’s payout ratio is currently 90.17%.

Insider Buying and Selling at Campbell Soup

In other news, EVP Charles A. Brawley III sold 2,498 shares of the business’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $40.03, for a total value of $99,994.94. Following the completion of the sale, the executive vice president now owns 37,590 shares in the company, valued at approximately $1,504,727.70. The trade was a 6.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 20.19% of the stock is currently owned by corporate insiders.

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.