Alliancebernstein L.P. Has $18.48 Million Position in The Campbell Soup Company (NASDAQ:CPB)

Alliancebernstein L.P. lifted its holdings in shares of The Campbell Soup Company (NASDAQ:CPB) by 19.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 441,221 shares of the company’s stock after buying an additional 72,801 shares during the period. Alliancebernstein L.P.’s holdings in Campbell Soup were worth $18,478,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Sherman Asset Management Inc. bought a new stake in Campbell Soup during the fourth quarter worth about $36,000. Principal Securities Inc. raised its stake in shares of 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 purchasing an additional 290 shares in the last quarter. Kentucky Trust Co acquired a new stake in shares of Campbell Soup in the 4th quarter valued at approximately $42,000. Quent Capital LLC boosted its holdings in shares of 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 buying an additional 481 shares during the last quarter. Finally, Stonebridge Financial Group LLC bought a new position in shares of Campbell Soup in the fourth quarter valued at $47,000. Institutional investors own 52.35% of the company’s stock.

Insider Transactions at Campbell Soup

In other news, EVP Charles A. Brawley III sold 2,498 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $40.03, for a total transaction of $99,994.94. Following the completion of the sale, the executive vice president now owns 37,590 shares of the company’s stock, valued at approximately $1,504,727.70. This represents a 6.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 20.19% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CPB has been the subject of a number of recent analyst reports. Citigroup cut their price target on shares of Campbell Soup from $39.00 to $37.00 and set a “sell” rating for the company in a research note on Thursday, March 6th. Wells Fargo & Company reduced their price target on Campbell Soup from $43.00 to $40.00 and set an “equal weight” rating for the company in a report on Thursday, March 6th. JPMorgan Chase & Co. downgraded 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. Jefferies Financial Group cut their price objective on Campbell Soup from $42.00 to $40.00 and set a “hold” rating for the company in a research report on Wednesday, March 5th. Finally, Consumer Edge reissued an “equal weight” rating on shares of Campbell Soup in a report on Monday, March 17th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $44.86.

Campbell Soup Price Performance

NASDAQ:CPB opened at $38.09 on Tuesday. The Campbell Soup Company has a 52 week low of $36.92 and a 52 week high of $52.81. 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 firm’s 50-day simple moving average is $39.12 and its 200 day simple moving average is $42.50. The firm has a market cap of $11.36 billion, a price-to-earnings ratio of 20.81, a P/E/G ratio of 2.71 and a beta of 0.19.

Campbell Soup (NASDAQ:CPB) last announced its earnings results on Wednesday, March 5th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.73 by $0.01. The company had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $2.74 billion. Campbell Soup had a net margin of 5.57% and a return on equity of 23.79%. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. As a group, sell-side analysts predict that The Campbell Soup Company will post 3.15 earnings per share for the current year.

Campbell Soup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.39 per share. The ex-dividend date is Thursday, April 3rd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.10%. Campbell Soup’s payout ratio is 90.17%.

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.