Mercer Capital Advisers Inc. decreased its position in shares of Campbell Soup (NYSE:CPB) by 49.2% in the fourth quarter, Holdings Channel reports. The fund owned 2,150 shares of the company’s stock after selling 2,083 shares during the period. Mercer Capital Advisers Inc.’s holdings in Campbell Soup were worth $106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently added to or reduced their stakes in CPB. HighTower Advisors LLC lifted its position in Campbell Soup by 21.3% during the 2nd quarter. HighTower Advisors LLC now owns 16,640 shares of the company’s stock worth $667,000 after acquiring an additional 2,920 shares during the last quarter. Private Advisor Group LLC raised its position in shares of Campbell Soup by 52.3% during the second quarter. Private Advisor Group LLC now owns 8,105 shares of the company’s stock valued at $324,000 after buying an additional 2,782 shares during the last quarter. Paloma Partners Management Co acquired a new position in Campbell Soup in the second quarter worth about $640,000. AQR Capital Management LLC raised its position in Campbell Soup by 543.4% in the second quarter. AQR Capital Management LLC now owns 201,633 shares of the company’s stock worth $8,065,000 after purchasing an additional 170,295 shares in the last quarter. Finally, Morgan Stanley raised its position in Campbell Soup by 9.3% in the second quarter. Morgan Stanley now owns 897,852 shares of the company’s stock worth $35,978,000 after purchasing an additional 76,482 shares in the last quarter. 50.81% of the stock is owned by hedge funds and other institutional investors.
Campbell Soup stock traded down $0.33 during trading hours on Friday, hitting $48.63. 1,191,535 shares of the stock were exchanged, compared to its average volume of 1,729,982. The company has a debt-to-equity ratio of 5.37, a quick ratio of 0.34 and a current ratio of 0.60. The stock has a market capitalization of $14.84 billion, a P/E ratio of 81.05, a P/E/G ratio of 3.22 and a beta of 0.43. Campbell Soup has a 12 month low of $32.17 and a 12 month high of $49.56. The business’s 50-day moving average is $48.35 and its two-hundred day moving average is $45.75.
The business also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Wednesday, January 8th will be paid a dividend of $0.35 per share. The ex-dividend date is Tuesday, January 7th. This represents a $1.40 annualized dividend and a dividend yield of 2.88%. Campbell Soup’s dividend payout ratio (DPR) is currently 60.87%.
Several research firms recently issued reports on CPB. Wells Fargo & Co increased their price target on shares of Campbell Soup from $45.00 to $48.00 and gave the stock a “market perform” rating in a research report on Thursday, December 5th. Deutsche Bank assumed coverage on shares of Campbell Soup in a research note on Wednesday, December 11th. They set a “hold” rating and a $50.00 price objective on the stock. Credit Suisse Group upped their price objective on shares of Campbell Soup from $41.00 to $43.00 and gave the stock an “underperform” rating in a research note on Thursday, December 5th. UBS Group set a $41.00 price objective on shares of Campbell Soup in a research note on Thursday, December 5th. They noted that the move was a valuation call. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $55.00 price objective on shares of Campbell Soup in a research note on Thursday, December 5th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. Campbell Soup presently has a consensus rating of “Hold” and a consensus target price of $45.85.
About Campbell Soup
Campbell Soup Company, together with its subsidiaries, manufactures and markets branded food and beverage products. It operates through three segments: Americas Simple Meals and Beverages, Global Biscuits and Snacks, and Campbell Fresh. The Americas Simple Meals and Beverages segment engages in the retail and food service of Campbell's condensed and ready-to-serve soups; Swanson broth and stocks; Prego pasta sauces; Pace Mexican sauces; Campbell's gravies, pastas, beans, and dinner sauces; Swanson canned poultry products; Plum food and snack products; V8 juices and beverages; Campbell's tomato juices; and Pacific broth, soups, non-dairy beverages, and other simple meals.
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