Exxonmobil Investment Management Inc. TX lowered its stake in Campbell Soup Company (NYSE:CPB) by 14.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,817 shares of the company’s stock after selling 6,140 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Campbell Soup were worth $1,920,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Campbell Soup by 2,522.6% in the first quarter. BlackRock Inc. now owns 14,676,936 shares of the company’s stock valued at $840,105,000 after buying an additional 14,117,312 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Campbell Soup by 2.8% in the first quarter. Vanguard Group Inc. now owns 12,943,076 shares of the company’s stock valued at $740,862,000 after buying an additional 356,448 shares in the last quarter. State Street Corp raised its position in shares of Campbell Soup by 0.8% in the first quarter. State Street Corp now owns 8,667,988 shares of the company’s stock valued at $496,147,000 after buying an additional 66,612 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Campbell Soup by 2.5% in the first quarter. Bank of New York Mellon Corp now owns 5,870,217 shares of the company’s stock valued at $336,011,000 after buying an additional 142,722 shares in the last quarter. Finally, Waldron LP raised its position in shares of Campbell Soup by 9,981.3% in the first quarter. Waldron LP now owns 3,730,196 shares of the company’s stock valued at $225,418,000 after buying an additional 3,693,195 shares in the last quarter. 43.92% of the stock is owned by institutional investors and hedge funds.

Campbell Soup Company (NYSE:CPB) opened at 52.57 on Thursday. The firm has a market cap of $15.93 billion, a P/E ratio of 33.19 and a beta of 0.34. The firm’s 50-day moving average price is $54.17 and its 200-day moving average price is $57.93. Campbell Soup Company has a 1-year low of $50.62 and a 1-year high of $64.49.

Campbell Soup (NYSE:CPB) last posted its quarterly earnings results on Friday, May 19th. The company reported $0.59 EPS for the quarter, missing the Zacks’ consensus estimate of $0.64 by $0.05. Campbell Soup had a net margin of 6.17% and a return on equity of 59.83%. The firm had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the previous year, the company earned $0.65 EPS. The company’s quarterly revenue was down .9% compared to the same quarter last year. Equities research analysts anticipate that Campbell Soup Company will post $3.05 earnings per share for the current fiscal year.

Campbell Soup announced that its board has approved a share buyback plan on Wednesday, March 22nd that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 8.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Thursday, July 13th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Tuesday, July 11th. Campbell Soup’s payout ratio is 88.05%.

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A number of analysts have weighed in on CPB shares. Credit Suisse Group reiterated a “sell” rating on shares of Campbell Soup in a report on Wednesday, May 24th. Zacks Investment Research downgraded Campbell Soup from a “hold” rating to a “sell” rating in a report on Wednesday. BidaskClub downgraded Campbell Soup from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. Morgan Stanley decreased their price target on Campbell Soup from $55.00 to $52.00 and set an “underweight” rating for the company in a report on Tuesday. Finally, J P Morgan Chase & Co reiterated a “neutral” rating and set a $55.00 price target (down from $60.00) on shares of Campbell Soup in a report on Wednesday, June 28th. Six research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $57.46.

Campbell Soup Company Profile

Campbell Soup Company is a food company, which manufactures and markets food products. The Company’s segments include Americas Simple Meals and Beverages; Global Biscuits and Snacks, and Campbell Fresh. The Americas Simple Meals and Beverages segment includes the retail and food service channel businesses.

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Institutional Ownership by Quarter for Campbell Soup (NYSE:CPB)

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