Comerica Bank boosted its holdings in Campbell Soup (NYSE:CPB – Get Rating) by 52.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,608 shares of the company’s stock after buying an additional 13,563 shares during the quarter. Comerica Bank’s holdings in Campbell Soup were worth $1,867,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in CPB. Brown Advisory Inc. increased its position in Campbell Soup by 116.7% during the 4th quarter. Brown Advisory Inc. now owns 1,506,477 shares of the company’s stock valued at $65,472,000 after purchasing an additional 811,130 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in Campbell Soup during the 4th quarter valued at approximately $16,172,000. Qube Research & Technologies Ltd acquired a new stake in Campbell Soup during the 4th quarter valued at approximately $16,130,000. SG Americas Securities LLC increased its position in Campbell Soup by 612.9% during the 4th quarter. SG Americas Securities LLC now owns 392,462 shares of the company’s stock valued at $17,056,000 after purchasing an additional 337,412 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Campbell Soup by 14.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,509,971 shares of the company’s stock valued at $109,078,000 after purchasing an additional 310,468 shares during the period. Institutional investors and hedge funds own 51.89% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have weighed in on CPB. StockNews.com raised shares of Campbell Soup from a “hold” rating to a “buy” rating in a research report on Saturday, May 14th. Citigroup raised their price objective on shares of Campbell Soup from $46.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, June 9th. UBS Group raised their price objective on shares of Campbell Soup to $43.00 in a research report on Thursday, June 9th. Piper Sandler raised their price objective on shares of Campbell Soup from $45.00 to $47.00 and gave the stock a “neutral” rating in a research report on Monday, June 13th. Finally, Royal Bank of Canada downgraded shares of Campbell Soup from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $47.00 to $46.00 in a research report on Monday, March 28th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Campbell Soup currently has a consensus rating of “Hold” and an average target price of $46.10.
Insider Buying and Selling at Campbell Soup
Campbell Soup Stock Performance
NYSE CPB opened at $47.85 on Monday. The company has a fifty day simple moving average of $47.52 and a 200 day simple moving average of $46.02. Campbell Soup has a 12-month low of $39.76 and a 12-month high of $51.94. The company has a current ratio of 0.69, a quick ratio of 0.30 and a debt-to-equity ratio of 1.18. The company has a market cap of $14.38 billion, a P/E ratio of 15.29, a PEG ratio of 10.50 and a beta of 0.37.
Campbell Soup (NYSE:CPB – Get Rating) last posted its quarterly earnings results on Wednesday, June 8th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.09. Campbell Soup had a net margin of 11.23% and a return on equity of 26.07%. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter last year, the firm posted $0.57 EPS. Campbell Soup’s revenue was up 7.4% compared to the same quarter last year. Sell-side analysts predict that Campbell Soup will post 2.83 earnings per share for the current fiscal year.
Campbell Soup Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Shareholders of record on Thursday, July 7th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend is Wednesday, July 6th. Campbell Soup’s dividend payout ratio (DPR) is presently 47.28%.
Campbell Soup Profile
Campbell Soup Company, together with its subsidiaries, manufactures and markets food and beverage products 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.
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