Pioneer Investment Management Inc. lowered its stake in shares of Campbell Soup Company (NYSE:CPB) by 78.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 293,225 shares of the company’s stock after selling 1,066,683 shares during the period. Pioneer Investment Management Inc.’s holdings in Campbell Soup were worth $15,292,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. BlackRock Inc. boosted 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 during the period. Waldron LP boosted 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 during the period. Schroder Investment Management Group boosted its position in shares of Campbell Soup by 97.2% in the first quarter. Schroder Investment Management Group now owns 2,917,189 shares of the company’s stock valued at $166,601,000 after buying an additional 1,438,025 shares during the period. Alliancebernstein L.P. boosted its position in shares of Campbell Soup by 33.3% in the first quarter. Alliancebernstein L.P. now owns 3,333,547 shares of the company’s stock valued at $190,812,000 after buying an additional 833,687 shares during the period. Finally, Gotham Asset Management LLC boosted its position in shares of Campbell Soup by 922.3% in the first quarter. Gotham Asset Management LLC now owns 641,623 shares of the company’s stock valued at $36,727,000 after buying an additional 578,860 shares during the period. 43.84% of the stock is owned by hedge funds and other institutional investors.

Campbell Soup Company (NYSE CPB) opened at 53.25 on Friday. The company has a market cap of $16.14 billion, a price-to-earnings ratio of 33.62 and a beta of 0.34. Campbell Soup Company has a 52 week low of $50.62 and a 52 week high of $64.23. The stock’s 50 day moving average price is $52.42 and its 200-day moving average price is $57.04.

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

The firm also recently announced a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Thursday, July 13th were paid a $0.35 dividend. The ex-dividend date of this dividend was Tuesday, July 11th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.63%. Campbell Soup’s payout ratio is presently 88.05%.

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CPB has been the subject of several recent research reports. Zacks Investment Research cut Campbell Soup from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Morgan Stanley reduced their price target on Campbell Soup from $55.00 to $52.00 and set an “underweight” rating for the company in a research report on Tuesday, July 18th. BidaskClub cut Campbell Soup from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. Wells Fargo & Company reissued a “market perform” rating and set a $58.00 price target (down from $62.50) on shares of Campbell Soup in a research report on Tuesday, May 23rd. Finally, Credit Suisse Group reissued a “sell” rating on shares of Campbell Soup in a research report on Wednesday, May 24th. Seven analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company’s stock. Campbell Soup presently has an average rating of “Hold” and a consensus price target of $57.24.

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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