Texas Permanent School Fund Reduces Stake in Campbell Soup (NYSE:CPB)

Texas Permanent School Fund reduced its stake in shares of Campbell Soup (NYSE:CPBGet Rating) by 1.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 25,899 shares of the company’s stock after selling 323 shares during the period. Texas Permanent School Fund’s holdings in Campbell Soup were worth $1,244,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Truist Financial Corp raised its stake in Campbell Soup by 3.5% in the 1st quarter. Truist Financial Corp now owns 18,141 shares of the company’s stock valued at $809,000 after acquiring an additional 620 shares during the period. Kestra Advisory Services LLC lifted its stake in shares of Campbell Soup by 10.1% during the 1st quarter. Kestra Advisory Services LLC now owns 6,551 shares of the company’s stock valued at $292,000 after buying an additional 603 shares in the last quarter. Comerica Bank boosted its holdings in Campbell Soup by 52.1% in the 1st quarter. Comerica Bank now owns 39,608 shares of the company’s stock worth $1,867,000 after buying an additional 13,563 shares during the period. Nisa Investment Advisors LLC grew its stake in Campbell Soup by 1.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 42,570 shares of the company’s stock valued at $1,897,000 after buying an additional 670 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in Campbell Soup by 3.2% during the 1st quarter. Daiwa Securities Group Inc. now owns 11,915 shares of the company’s stock valued at $531,000 after acquiring an additional 368 shares during the period. Institutional investors own 51.16% of the company’s stock.

Insider Activity

In related news, EVP Anthony Sanzio sold 3,600 shares of the stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $47.35, for a total transaction of $170,460.00. Following the completion of the sale, the executive vice president now directly owns 14,445 shares in the company, valued at approximately $683,970.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 21.05% of the company’s stock.

Campbell Soup Trading Up 2.1 %

Shares of CPB stock opened at $51.56 on Friday. The business has a 50-day moving average price of $49.47 and a two-hundred day moving average price of $48.87. Campbell Soup has a 12-month low of $39.85 and a 12-month high of $53.28. The company has a quick ratio of 0.25, a current ratio of 0.68 and a debt-to-equity ratio of 1.20. The firm has a market cap of $15.46 billion, a P/E ratio of 20.62, a price-to-earnings-growth ratio of 5.91 and a beta of 0.41.

Campbell Soup (NYSE:CPBGet Rating) last released its earnings results on Thursday, September 1st. The company reported $0.56 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.56. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.98 billion. Campbell Soup had a return on equity of 25.81% and a net margin of 8.84%. Campbell Soup’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS. Equities analysts anticipate that Campbell Soup will post 2.9 EPS for the current fiscal year.

Campbell Soup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 31st. Shareholders of record on Thursday, October 6th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Wednesday, October 5th. This represents a $1.48 annualized dividend and a yield of 2.87%. Campbell Soup’s payout ratio is 59.20%.

Analyst Ratings Changes

Several brokerages have recently weighed in on CPB. Piper Sandler reduced their price target on Campbell Soup from $47.00 to $46.00 and set a “neutral” rating for the company in a research report on Friday, September 2nd. Credit Suisse Group upped their price target on Campbell Soup from $46.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, August 26th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Campbell Soup from $49.00 to $50.00 in a research report on Monday, August 22nd. StockNews.com lowered shares of Campbell Soup from a “buy” rating to a “hold” rating in a report on Saturday. Finally, BNP Paribas began coverage on shares of Campbell Soup in a report on Tuesday. They issued an “underperform” rating and a $48.00 price target for the company. Three equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to data from MarketBeat.com, Campbell Soup has an average rating of “Hold” and a consensus target price of $47.90.

Campbell Soup Company Profile

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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.

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

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