Campbell Soup (NYSE:CPB) Shares Purchased by abrdn plc

abrdn plc raised its stake in Campbell Soup (NYSE:CPB) by 18.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 352,836 shares of the company’s stock after purchasing an additional 54,275 shares during the quarter. abrdn plc’s holdings in Campbell Soup were worth $15,253,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Invesco Ltd. grew 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 valued at $206,865,000 after acquiring an additional 318,983 shares during the period. Van ECK Associates Corp increased its position 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 worth $152,643,000 after purchasing an additional 3,558,933 shares in the last quarter. Northern Trust Corp increased its position in Campbell Soup by 4.7% during the 3rd quarter. Northern Trust Corp now owns 2,845,931 shares of the company’s stock worth $116,911,000 after purchasing an additional 127,574 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Campbell Soup by 19.3% in the third quarter. Bank of New York Mellon Corp now owns 2,157,930 shares of the company’s stock valued at $88,648,000 after buying an additional 349,485 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Campbell Soup by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,639,006 shares of the company’s stock valued at $67,330,000 after buying an additional 14,555 shares in the last quarter. 52.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CPB has been the topic of a number of research reports. Piper Sandler reissued a “neutral” rating and issued a $47.00 target price on shares of Campbell Soup in a research note on Tuesday, March 26th. DA Davidson started coverage on Campbell Soup in a research report on Friday, March 1st. They issued a “buy” rating and a $48.00 price objective on the stock. Citigroup began coverage on Campbell Soup in a research report on Thursday, February 1st. They issued a “sell” rating and a $41.00 target price for the company. JPMorgan Chase & Co. raised their target price on Campbell Soup from $47.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, March 1st. Finally, TheStreet raised Campbell Soup from a “c+” rating to a “b-” rating in a research report on Wednesday, January 3rd. 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $46.38.

Campbell Soup Stock Performance

Shares of CPB stock opened at $45.55 on Thursday. Campbell Soup has a 12-month low of $37.94 and a 12-month high of $55.14. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.01 and a quick ratio of 0.43. The firm has a market capitalization of $13.58 billion, a price-to-earnings ratio of 17.79, a price-to-earnings-growth ratio of 2.95 and a beta of 0.24. The business has a 50 day simple moving average of $43.09 and a 200 day simple moving average of $42.48.

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

Campbell Soup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 29th. Stockholders of record on Thursday, April 4th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Wednesday, April 3rd. Campbell Soup’s dividend payout ratio (DPR) is presently 57.81%.

About Campbell Soup

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.