Geode Capital Management LLC Buys 57,717 Shares of The Campbell Soup Company (NASDAQ:CPB)

Geode Capital Management LLC raised its stake in The Campbell Soup Company (NASDAQ:CPB) by 1.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,323,332 shares of the company’s stock after purchasing an additional 57,717 shares during the period. Geode Capital Management LLC’s holdings in Campbell Soup were worth $222,420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Ballentine Partners LLC increased its position in Campbell Soup by 2.8% during the 4th quarter. Ballentine Partners LLC now owns 9,646 shares of the company’s stock valued at $404,000 after buying an additional 262 shares in the last quarter. Principal Securities Inc. increased its holdings in shares of Campbell Soup by 45.5% during the fourth quarter. Principal Securities Inc. now owns 927 shares of the company’s stock valued at $39,000 after acquiring an additional 290 shares in the last quarter. SPC Financial Inc. raised its position in shares of Campbell Soup by 2.3% in the 4th quarter. SPC Financial Inc. now owns 13,575 shares of the company’s stock valued at $569,000 after purchasing an additional 300 shares during the last quarter. Ascent Wealth Partners LLC boosted its stake in Campbell Soup by 1.5% in the 4th quarter. Ascent Wealth Partners LLC now owns 20,176 shares of the company’s stock worth $845,000 after purchasing an additional 306 shares in the last quarter. Finally, HB Wealth Management LLC grew its position in Campbell Soup by 4.3% during the 4th quarter. HB Wealth Management LLC now owns 7,718 shares of the company’s stock worth $323,000 after purchasing an additional 319 shares during the last quarter. 52.35% of the stock is currently owned by institutional investors.

Campbell Soup Price Performance

NASDAQ:CPB opened at $38.79 on Friday. The company has a quick ratio of 0.50, a current ratio of 0.91 and a debt-to-equity ratio of 1.74. The Campbell Soup Company has a 52 week low of $36.92 and a 52 week high of $52.81. The stock’s 50-day moving average price is $39.16 and its 200-day moving average price is $42.71. The stock has a market capitalization of $11.57 billion, a PE ratio of 21.20, a price-to-earnings-growth ratio of 2.71 and a beta of 0.19.

Campbell Soup (NASDAQ:CPB) last issued its quarterly earnings data on Wednesday, March 5th. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. The company had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.74 billion. Campbell Soup had a return on equity of 23.79% and a net margin of 5.57%. Campbell Soup’s revenue was up 9.3% on a year-over-year basis. As a group, equities analysts expect that The Campbell Soup Company will post 3.15 EPS for the current fiscal year.

Campbell Soup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Thursday, April 3rd will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 4.02%. The ex-dividend date of this dividend is Thursday, April 3rd. Campbell Soup’s payout ratio is 90.17%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. BNP Paribas upgraded shares of Campbell Soup to a “strong sell” rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. cut Campbell Soup from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $48.00 to $37.00 in a research report on Thursday, March 6th. Bank of America cut their price objective on Campbell Soup from $45.00 to $41.00 and set an “underperform” rating on the stock in a report on Thursday, March 6th. Citigroup decreased their target price on Campbell Soup from $39.00 to $37.00 and set a “sell” rating for the company in a report on Thursday, March 6th. Finally, Consumer Edge reiterated an “equal weight” rating on shares of Campbell Soup in a report on Monday, March 17th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Campbell Soup has an average rating of “Hold” and a consensus target price of $44.86.

Insider Activity

In other news, EVP Charles A. Brawley III sold 2,498 shares of Campbell Soup stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $40.03, for a total value of $99,994.94. Following the sale, the executive vice president now directly owns 37,590 shares of the company’s stock, valued at $1,504,727.70. The trade was a 6.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 20.19% of the company’s stock.

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.