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Arizona State Retirement System Raises Stock Holdings in Campbell Soup (NYSE:CPB)

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Arizona State Retirement System increased its stake in shares of Campbell Soup (NYSE:CPBGet Rating) by 1.9% in the first quarter, HoldingsChannel reports. The firm owned 54,661 shares of the company’s stock after buying an additional 1,030 shares during the period. Arizona State Retirement System’s holdings in Campbell Soup were worth $2,436,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CPB. Comerica Bank increased its position in Campbell Soup by 52.1% during the 1st quarter. Comerica Bank now owns 39,608 shares of the company’s stock valued at $1,867,000 after buying an additional 13,563 shares in the last quarter. American Century Companies Inc. increased its position in Campbell Soup by 111.4% during the 4th quarter. American Century Companies Inc. now owns 52,226 shares of the company’s stock valued at $2,270,000 after buying an additional 27,520 shares in the last quarter. Advisor Partners LLC increased its position in Campbell Soup by 38.6% during the 4th quarter. Advisor Partners LLC now owns 8,232 shares of the company’s stock valued at $358,000 after buying an additional 2,291 shares in the last quarter. Pictet Asset Management SA increased its position in Campbell Soup by 3.6% during the 4th quarter. Pictet Asset Management SA now owns 94,306 shares of the company’s stock valued at $4,099,000 after buying an additional 3,290 shares in the last quarter. Finally, Yousif Capital Management LLC acquired a new position in Campbell Soup during the 4th quarter valued at about $1,493,000. 51.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft upped their target price on Campbell Soup from $47.00 to $49.00 in a research report on Thursday, June 9th. StockNews.com raised Campbell Soup from a “hold” rating to a “buy” rating in a report on Saturday, May 14th. Stifel Nicolaus increased their price objective on Campbell Soup from $46.00 to $48.00 in a report on Thursday, June 9th. Credit Suisse Group increased their price objective on Campbell Soup to $46.00 in a report on Thursday, June 9th. Finally, UBS Group increased their price objective on Campbell Soup to $43.00 in a report on Thursday, June 9th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $46.10.

Insiders Place Their Bets

In other news, VP Stanley Polomski sold 10,335 shares of Campbell Soup stock in a transaction on Monday, June 27th. The stock was sold at an average price of $48.20, for a total value of $498,147.00. Following the completion of the sale, the vice president now directly owns 28,176 shares of the company’s stock, valued at $1,358,083.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Stanley Polomski sold 10,335 shares of Campbell Soup stock in a transaction on Monday, June 27th. The stock was sold at an average price of $48.20, for a total value of $498,147.00. Following the completion of the sale, the vice president now directly owns 28,176 shares of the company’s stock, valued at $1,358,083.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Craig Slavtcheff sold 13,110 shares of Campbell Soup stock in a transaction on Thursday, June 23rd. The shares were sold at an average price of $47.00, for a total value of $616,170.00. Following the completion of the sale, the executive vice president now directly owns 32,242 shares of the company’s stock, valued at $1,515,374. The disclosure for this sale can be found here. 35.62% of the stock is owned by insiders.

Campbell Soup Stock Performance

Shares of CPB stock opened at $49.35 on Friday. The company has a market capitalization of $14.83 billion, a P/E ratio of 15.77, a P/E/G ratio of 10.75 and a beta of 0.37. The business’s 50 day moving average is $47.63 and its two-hundred day moving average is $46.13. The company has a current ratio of 0.69, a quick ratio of 0.30 and a debt-to-equity ratio of 1.18. Campbell Soup has a 12-month low of $39.76 and a 12-month high of $51.94.

Campbell Soup (NYSE:CPBGet Rating) last released its earnings results on Wednesday, June 8th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.09. The business had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.04 billion. Campbell Soup had a return on equity of 26.07% and a net margin of 11.23%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.57 earnings per share. Analysts expect that Campbell Soup will post 2.83 EPS for the current fiscal year.

Campbell Soup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 1st. Investors of record on Thursday, July 7th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Wednesday, July 6th. This represents a $1.48 annualized dividend and a dividend yield of 3.00%. Campbell Soup’s dividend payout ratio is presently 47.28%.

About Campbell Soup

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Campbell Soup Company, together with its subsidiaries, manufactures and markets food and beverage products 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.

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