State Board of Administration of Florida Retirement System cut its stake in shares of Campbell Soup Company (NYSE:CPB) by 3.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 280,131 shares of the company’s stock after selling 9,117 shares during the period. State Board of Administration of Florida Retirement System owned 0.09% of Campbell Soup worth $14,609,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Conning Inc. increased its position in Campbell Soup by 1.5% in the first quarter. Conning Inc. now owns 5,287 shares of the company’s stock valued at $303,000 after buying an additional 80 shares during the last quarter. Old Mutual Global Investors UK Ltd. bought a new position in Campbell Soup during the first quarter valued at $2,439,000. Whittier Trust Co. increased its position in Campbell Soup by 2.8% in the first quarter. Whittier Trust Co. now owns 3,469 shares of the company’s stock valued at $198,000 after buying an additional 94 shares during the last quarter. First Midwest Bank Trust Division increased its position in Campbell Soup by 24.6% in the first quarter. First Midwest Bank Trust Division now owns 4,339 shares of the company’s stock valued at $249,000 after buying an additional 858 shares during the last quarter. Finally, IFP Advisors Inc increased its position in Campbell Soup by 2.3% in the first quarter. IFP Advisors Inc now owns 2,472 shares of the company’s stock valued at $142,000 after buying an additional 55 shares during the last quarter. 43.91% of the stock is owned by hedge funds and other institutional investors.

Shares of Campbell Soup Company (NYSE CPB) opened at 51.40 on Monday. The stock has a 50 day moving average price of $52.68 and a 200-day moving average price of $56.31. Campbell Soup Company has a 12 month low of $50.62 and a 12 month high of $64.23. The stock has a market cap of $15.58 billion, a P/E ratio of 32.45 and a beta of 0.34.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Thursday, July 13th were issued a dividend of $0.35 per share. The ex-dividend date was Tuesday, July 11th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.72%. Campbell Soup’s payout ratio is 88.05%.

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Several equities analysts have weighed in on the company. Barclays PLC reissued a “sell” rating on shares of Campbell Soup in a research report on Tuesday, July 25th. Zacks Investment Research downgraded Campbell Soup from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Wells Fargo & Company reissued a “market perform” rating and set a $58.00 price target (down previously from $62.50) on shares of Campbell Soup in a research report on Tuesday, May 23rd. Piper Jaffray Companies assumed coverage on Campbell Soup in a research report on Wednesday, May 24th. They set a “neutral” rating and a $59.00 price target for the company. Finally, Credit Suisse Group reissued a “sell” rating on shares of Campbell Soup in a research report on Wednesday, May 24th. Seven research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $57.24.

About Campbell Soup

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.

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

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