Campbell Soup (NASDAQ:CPB) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lowered its stake in shares of Campbell Soup (NASDAQ:CPB) by 1.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 43,325 shares of the company’s stock after selling 825 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Campbell Soup were worth $2,119,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CPB. Van ECK Associates Corp increased its holdings in shares of Campbell Soup by 1.9% during the 2nd quarter. Van ECK Associates Corp now owns 8,709,949 shares of the company’s stock worth $393,603,000 after buying an additional 161,392 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Campbell Soup by 14.5% during the 2nd 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 during the period. LSV Asset Management boosted its stake in Campbell Soup by 5,022.5% during the second quarter. LSV Asset Management now owns 2,438,300 shares of the company’s stock worth $110,187,000 after buying an additional 2,390,700 shares during the period. Armistice Capital LLC lifted its holdings in shares of Campbell Soup by 94.0% in the 2nd quarter. Armistice Capital LLC now owns 1,067,914 shares of the company’s stock worth $48,259,000 after acquiring an additional 517,550 shares during the last quarter. Finally, TD Asset Management Inc raised its position in Campbell Soup by 15.5% in the second quarter. TD Asset Management Inc now owns 986,109 shares of the company’s stock valued at $44,562,000 after purchasing an additional 132,453 shares during the period. 52.35% of the stock is currently owned by hedge funds and other institutional investors.

Campbell Soup Trading Up 1.0 %

NASDAQ:CPB opened at $45.59 on Friday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.22 and a current ratio of 0.61. Campbell Soup has a 1 year low of $39.65 and a 1 year high of $52.81. The stock has a market cap of $13.57 billion, a P/E ratio of 24.12, a P/E/G ratio of 2.76 and a beta of 0.19. The stock has a 50-day simple moving average of $48.65 and a 200-day simple moving average of $47.08.

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

Campbell Soup Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Thursday, October 3rd were paid 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 3.25%. Campbell Soup’s dividend payout ratio is presently 78.31%.

Analyst Ratings Changes

Several research firms recently issued reports on CPB. Royal Bank of Canada boosted their price objective on Campbell Soup from $47.00 to $51.00 and gave the company a “sector perform” rating in a report on Friday, September 13th. Barclays increased their target price on shares of Campbell Soup from $45.00 to $49.00 and gave the stock an “underweight” rating in a report on Thursday, September 12th. DA Davidson downgraded shares of Campbell Soup from a “buy” rating to a “neutral” rating and set a $51.00 price target for the company. in a research note on Friday, September 27th. Stifel Nicolaus reiterated a “hold” rating and issued a $45.00 price objective on shares of Campbell Soup in a research note on Tuesday, August 27th. Finally, Wells Fargo & Company boosted their target price on Campbell Soup from $49.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $50.83.

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.