Teachers Retirement System of The State of Kentucky Cuts Stock Holdings in Campbell Soup (NASDAQ:CPB)

Teachers Retirement System of The State of Kentucky cut its position in shares of Campbell Soup (NASDAQ:CPB) by 8.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,805 shares of the company’s stock after selling 1,381 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Campbell Soup were worth $724,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Toronto Dominion Bank raised its position in shares of Campbell Soup by 32.6% in the third quarter. Toronto Dominion Bank now owns 135,474 shares of the company’s stock worth $6,627,000 after acquiring an additional 33,275 shares during the period. Neo Ivy Capital Management acquired a new position in Campbell Soup in the 3rd quarter worth about $104,000. Coldstream Capital Management Inc. boosted its position in Campbell Soup by 16.8% during the third quarter. Coldstream Capital Management Inc. now owns 6,651 shares of the company’s stock worth $321,000 after purchasing an additional 956 shares in the last quarter. Geode Capital Management LLC grew its holdings in Campbell Soup by 6.5% in the third quarter. Geode Capital Management LLC now owns 5,265,615 shares of the company’s stock valued at $256,827,000 after purchasing an additional 322,951 shares during the period. Finally, Vestcor Inc increased its position in shares of Campbell Soup by 26.5% in the third quarter. Vestcor Inc now owns 182,528 shares of the company’s stock valued at $8,929,000 after buying an additional 38,200 shares in the last quarter. 52.35% of the stock is owned by hedge funds and other institutional investors.

Campbell Soup Stock Down 3.2 %

Shares of NASDAQ:CPB opened at $41.66 on Thursday. Campbell Soup has a 52-week low of $40.26 and a 52-week high of $52.81. The stock has a market cap of $12.42 billion, a P/E ratio of 22.77, a PEG ratio of 2.96 and a beta of 0.18. The business has a fifty day moving average of $45.56 and a two-hundred day moving average of $46.88. The company has a quick ratio of 0.50, a current ratio of 0.91 and a debt-to-equity ratio of 1.74.

Campbell Soup Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Thursday, January 2nd will be issued a $0.39 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.74%. This is a positive change from Campbell Soup’s previous quarterly dividend of $0.37. Campbell Soup’s dividend payout ratio is currently 85.25%.

Wall Street Analysts Forecast Growth

CPB has been the topic of a number of research analyst reports. Argus raised shares of Campbell Soup from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Friday, September 20th. Royal Bank of Canada reissued a “sector perform” rating and set a $51.00 target price on shares of Campbell Soup in a research note on Monday, December 2nd. Stifel Nicolaus decreased their price target on shares of Campbell Soup from $50.00 to $47.00 and set a “hold” rating on the stock in a research note on Thursday, December 5th. TD Cowen lifted their price objective on Campbell Soup from $47.00 to $51.00 and gave the stock a “hold” rating in a report on Thursday, September 12th. Finally, Wells Fargo & Company reduced their target price on Campbell Soup from $51.00 to $45.00 and set an “equal weight” rating for the company in a report on Thursday, December 5th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $50.92.

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.