Bank of New York Mellon Corp Buys 199,470 Shares of The Campbell Soup Company (NASDAQ:CPB)

Bank of New York Mellon Corp lifted its position in The Campbell Soup Company (NASDAQ:CPB) by 4.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,237,992 shares of the company’s stock after purchasing an additional 199,470 shares during the quarter. Bank of New York Mellon Corp owned 1.42% of Campbell Soup worth $177,487,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Ashton Thomas Securities LLC bought a new stake in shares of Campbell Soup during the third quarter worth $39,000. Principal Securities Inc. lifted its position in Campbell Soup by 45.5% during the 4th quarter. Principal Securities Inc. now owns 927 shares of the company’s stock worth $39,000 after buying an additional 290 shares in the last quarter. Kentucky Trust Co bought a new stake in Campbell Soup during the 4th quarter worth about $42,000. Quent Capital LLC increased its position in Campbell Soup by 77.7% in the 4th quarter. Quent Capital LLC now owns 1,100 shares of the company’s stock valued at $46,000 after acquiring an additional 481 shares in the last quarter. Finally, Stonebridge Financial Group LLC bought a new position in shares of Campbell Soup in the fourth quarter worth about $47,000. Institutional investors and hedge funds own 52.35% of the company’s stock.

Campbell Soup Stock Down 0.5 %

Shares of NASDAQ CPB opened at $39.85 on Friday. The firm has a 50 day moving average price of $39.57 and a 200 day moving average price of $44.70. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.50 and a current ratio of 0.91. The stock has a market cap of $11.88 billion, a P/E ratio of 21.78, a P/E/G ratio of 2.71 and a beta of 0.19. The Campbell Soup Company has a 52-week low of $36.92 and a 52-week high of $52.81.

Campbell Soup (NASDAQ:CPB) last issued its quarterly earnings data on Tuesday, December 3rd. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.87 by $0.02. Campbell Soup had a return on equity of 23.79% and a net margin of 5.57%. Analysts expect that The Campbell Soup Company will post 3.15 EPS for the current year.

Campbell Soup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Thursday, April 3rd will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.56 dividend on an annualized basis and a yield of 3.91%. Campbell Soup’s payout ratio is 85.25%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CPB. Barclays decreased their price target on shares of Campbell Soup from $49.00 to $46.00 and set an “underweight” rating on the stock in a research note on Friday, December 6th. Citigroup decreased their price objective on Campbell Soup from $44.00 to $41.00 and set a “sell” rating on the stock in a research report on Thursday, December 5th. Royal Bank of Canada restated a “sector perform” rating and set a $51.00 target price on shares of Campbell Soup in a research report on Monday, December 2nd. DA Davidson reiterated a “neutral” rating and issued a $51.00 price target on shares of Campbell Soup in a report on Wednesday, December 4th. Finally, Wells Fargo & Company dropped their price objective on Campbell Soup from $45.00 to $43.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $50.17.

Insiders Place Their Bets

In other Campbell Soup news, EVP Anthony Sanzio sold 2,000 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $41.90, for a total transaction of $83,800.00. Following the completion of the transaction, the executive vice president now owns 16,551 shares in the company, valued at approximately $693,486.90. This represents a 10.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 20.19% of the company’s stock.

About Campbell Soup

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.