Raymond James Financial Services Advisors Inc. Increases Stake in Campbell Soup (NYSE:CPB)

Raymond James Financial Services Advisors Inc. raised its stake in shares of Campbell Soup (NYSE:CPB) by 3.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 22,424 shares of the company’s stock after acquiring an additional 764 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Campbell Soup were worth $969,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CPB. Van ECK Associates Corp grew its holdings in Campbell Soup by 2,269.3% during the 3rd quarter. Van ECK Associates Corp now owns 3,715,761 shares of the company’s stock valued at $152,643,000 after buying an additional 3,558,933 shares in the last quarter. Norges Bank bought a new position in shares of Campbell Soup during the 4th quarter valued at approximately $164,197,000. Envestnet Asset Management Inc. boosted its position in shares of Campbell Soup by 3,894.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,308,585 shares of the company’s stock valued at $3,114,000 after acquiring an additional 2,250,789 shares during the last quarter. State Street Corp boosted its position in shares of Campbell Soup by 16.8% during the 1st quarter. State Street Corp now owns 12,182,043 shares of the company’s stock valued at $542,954,000 after acquiring an additional 1,749,650 shares during the last quarter. Finally, Morgan Stanley boosted its position in shares of Campbell Soup by 66.9% during the 4th quarter. Morgan Stanley now owns 3,512,543 shares of the company’s stock valued at $199,337,000 after acquiring an additional 1,408,175 shares during the last quarter. 52.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on CPB shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $47.00 target price on shares of Campbell Soup in a research report on Thursday, March 14th. DA Davidson started coverage on Campbell Soup in a research report on Friday, March 1st. They set a “buy” rating and a $48.00 target price for the company. Citigroup started coverage on Campbell Soup in a research report on Thursday, February 1st. They set a “sell” rating and a $41.00 target price for the company. Evercore ISI assumed coverage on Campbell Soup in a research report on Wednesday, March 13th. They set an “in-line” rating and a $49.00 target price for the company. Finally, Piper Sandler restated a “neutral” rating and issued a $47.00 price target on shares of Campbell Soup in a research report on Tuesday, March 26th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Campbell Soup currently has an average rating of “Hold” and an average target price of $46.38.

Campbell Soup Stock Down 2.1 %

NYSE:CPB opened at $42.31 on Monday. Campbell Soup has a twelve month low of $37.94 and a twelve month high of $55.52. The company has a market cap of $12.61 billion, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 2.77 and a beta of 0.24. The stock has a fifty day simple moving average of $42.97 and a 200-day simple moving average of $42.30. The company has a current ratio of 1.01, a quick ratio of 0.43 and a debt-to-equity ratio of 1.17.

Campbell Soup (NYSE:CPB) last released its earnings results on Wednesday, March 6th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. Campbell Soup had a return on equity of 23.18% and a net margin of 8.26%. The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same period last year, the company earned $0.80 earnings per share. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. Analysts anticipate that Campbell Soup will post 3.05 EPS for the current year.

Campbell Soup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 29th. Stockholders of record on Thursday, April 4th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $1.48 annualized dividend and a dividend yield of 3.50%. Campbell Soup’s dividend payout ratio is currently 57.81%.

Campbell Soup Company 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.