12,591 Shares in Campbell Soup (NYSE:CPB) Acquired by Norden Group LLC

Norden Group LLC purchased a new position in Campbell Soup (NYSE:CPBFree Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 12,591 shares of the company’s stock, valued at approximately $560,000.

A number of other institutional investors also recently added to or reduced their stakes in CPB. Van ECK Associates Corp lifted its stake in Campbell Soup by 97.2% in the fourth quarter. Van ECK Associates Corp now owns 7,329,256 shares of the company’s stock worth $316,844,000 after acquiring an additional 3,613,495 shares during the last quarter. Norges Bank acquired a new stake in Campbell Soup during the fourth quarter worth approximately $125,689,000. AMF Tjanstepension AB acquired a new stake in Campbell Soup during the first quarter worth approximately $30,128,000. Deutsche Bank AG raised its holdings in Campbell Soup by 62.3% during the third quarter. Deutsche Bank AG now owns 1,453,612 shares of the company’s stock worth $59,714,000 after purchasing an additional 557,948 shares in the last quarter. Finally, UBS Group AG raised its holdings in Campbell Soup by 116.4% during the fourth quarter. UBS Group AG now owns 463,602 shares of the company’s stock worth $20,042,000 after purchasing an additional 249,326 shares in the last quarter. Hedge funds and other institutional investors own 52.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CPB shares. Sanford C. Bernstein raised shares of Campbell Soup from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $42.00 to $46.00 in a report on Wednesday, May 15th. Wells Fargo & Company raised their price objective on shares of Campbell Soup from $45.00 to $47.00 and gave the stock an “equal weight” rating in a report on Friday, June 7th. Piper Sandler reissued a “neutral” rating and set a $47.00 price objective on shares of Campbell Soup in a report on Tuesday, March 26th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $47.00 target price on shares of Campbell Soup in a report on Friday, June 7th. Finally, DA Davidson lifted their target price on shares of Campbell Soup from $47.00 to $49.00 and gave the company a “buy” rating in a report on Monday, June 10th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $46.56.

View Our Latest Report on CPB

Campbell Soup Price Performance

Campbell Soup stock opened at $45.12 on Monday. Campbell Soup has a 52 week low of $37.94 and a 52 week high of $46.97. The company has a quick ratio of 0.24, a current ratio of 0.62 and a debt-to-equity ratio of 1.47. The firm’s 50-day simple moving average is $44.90 and its 200 day simple moving average is $43.92. The firm has a market capitalization of $13.47 billion, a PE ratio of 18.27, a P/E/G ratio of 2.87 and a beta of 0.16.

Campbell Soup (NYSE:CPBGet Free Report) last announced its earnings results on Wednesday, June 5th. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.05. Campbell Soup had a net margin of 7.85% and a return on equity of 23.26%. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter in the previous year, the company posted $0.68 EPS. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities research analysts predict that Campbell Soup will post 3.08 EPS for the current fiscal year.

Campbell Soup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Wednesday, July 3rd will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.28%. The ex-dividend date is Wednesday, July 3rd. Campbell Soup’s payout ratio is 59.92%.

About Campbell Soup

(Free Report)

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.

Further Reading

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

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