New York State Teachers Retirement System Sells 1,923 Shares of Campbell Soup (NYSE:CPB)

New York State Teachers Retirement System lessened its holdings in shares of Campbell Soup (NYSE:CPB) by 1.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 182,822 shares of the company’s stock after selling 1,923 shares during the quarter. New York State Teachers Retirement System owned about 0.06% of Campbell Soup worth $7,903,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Campbell Soup by 6.3% during the first quarter. Vanguard Group Inc. now owns 23,259,524 shares of the company’s stock worth $1,036,678,000 after purchasing an additional 1,387,605 shares during the period. BlackRock Inc. boosted its position in Campbell Soup by 2.1% during the first quarter. BlackRock Inc. now owns 17,657,529 shares of the company’s stock worth $970,811,000 after purchasing an additional 357,500 shares during the period. State Street Corp boosted its position in Campbell Soup by 16.8% during the first quarter. State Street Corp now owns 12,182,043 shares of the company’s stock worth $542,954,000 after purchasing an additional 1,749,650 shares during the period. Invesco Ltd. boosted its position in Campbell Soup by 6.8% during the third quarter. Invesco Ltd. now owns 5,035,674 shares of the company’s stock worth $206,865,000 after purchasing an additional 318,983 shares during the period. Finally, Geode Capital Management LLC boosted its position in Campbell Soup by 1.2% during the first quarter. Geode Capital Management LLC now owns 4,375,839 shares of the company’s stock worth $240,059,000 after purchasing an additional 49,905 shares during the period. Institutional investors own 52.35% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Piper Sandler reiterated a “neutral” rating and set a $47.00 target price on shares of Campbell Soup in a research report on Tuesday, March 26th. JPMorgan Chase & Co. raised their price objective on shares of Campbell Soup from $47.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Evercore ISI initiated coverage on shares of Campbell Soup in a research report on Wednesday, March 13th. They issued an “in-line” rating and a $49.00 price objective for the company. Citigroup initiated coverage on shares of Campbell Soup in a research report on Thursday, February 1st. They issued a “sell” rating and a $41.00 price objective for the company. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $47.00 price objective on shares of Campbell Soup in a research report on Thursday, March 14th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $46.38.

Campbell Soup Trading Down 1.1 %

Shares of CPB opened at $43.21 on Friday. The company has a market capitalization of $12.88 billion, a P/E ratio of 16.88, a P/E/G ratio of 3.28 and a beta of 0.24. Campbell Soup has a 1-year low of $37.94 and a 1-year high of $55.54. The firm’s 50 day simple moving average is $43.02 and its 200 day simple moving average is $42.28. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.01 and a quick ratio of 0.43.

Campbell Soup (NYSE:CPB) last posted its quarterly earnings results on Wednesday, March 6th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. The firm had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.44 billion. Campbell Soup had a net margin of 8.26% and a return on equity of 23.18%. The business’s revenue was down 1.2% compared to the same quarter last year. During the same period last year, the firm posted $0.80 earnings per share. Sell-side analysts forecast that Campbell Soup will post 3.06 earnings per share for the current fiscal year.

Campbell Soup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 29th. Shareholders of record on Thursday, April 4th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend is Wednesday, April 3rd. Campbell Soup’s dividend payout ratio (DPR) is presently 57.81%.

Campbell Soup Profile

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.