Mercer Global Advisors Inc. ADV lowered its holdings in Campbell Soup (NYSE:CPB) by 7.2% during the first quarter, Holdings Channel reports. The fund owned 14,929 shares of the company’s stock after selling 1,166 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Campbell Soup were worth $750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in CPB. American International Group Inc. boosted its holdings in Campbell Soup by 1,077.1% during the fourth quarter. American International Group Inc. now owns 3,359,928 shares of the company’s stock worth $162,453,000 after buying an additional 3,074,482 shares in the last quarter. Norges Bank purchased a new stake in Campbell Soup during the fourth quarter worth $73,610,000. DekaBank Deutsche Girozentrale boosted its holdings in Campbell Soup by 298.0% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 1,154,190 shares of the company’s stock worth $55,594,000 after buying an additional 864,162 shares in the last quarter. BlackRock Inc. boosted its holdings in Campbell Soup by 3.5% during the first quarter. BlackRock Inc. now owns 16,494,993 shares of the company’s stock worth $829,203,000 after buying an additional 563,048 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Campbell Soup by 14.8% during the fourth quarter. Janus Henderson Group PLC now owns 2,444,379 shares of the company’s stock worth $118,186,000 after buying an additional 314,377 shares in the last quarter. 52.92% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently issued reports on CPB. Credit Suisse Group lowered their price target on shares of Campbell Soup from $47.00 to $46.00 and set a “neutral” rating on the stock in a report on Thursday, June 10th. Morgan Stanley decreased their price objective on shares of Campbell Soup from $50.00 to $48.00 and set an “equal weight” rating on the stock in a report on Thursday, June 10th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Campbell Soup from $52.00 to $50.00 and set a “hold” rating on the stock in a report on Thursday, February 25th. Piper Sandler decreased their price objective on shares of Campbell Soup from $57.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, June 10th. Finally, Zacks Investment Research downgraded shares of Campbell Soup from a “hold” rating to a “strong sell” rating and set a $39.00 price objective on the stock. in a report on Monday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $49.44.
Shares of NYSE CPB opened at $45.52 on Thursday. The firm has a 50-day simple moving average of $48.55. The firm has a market capitalization of $13.79 billion, a PE ratio of 17.37 and a beta of 0.58. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.94 and a quick ratio of 0.51. Campbell Soup has a 52 week low of $44.53 and a 52 week high of $54.08.
Campbell Soup (NYSE:CPB) last issued its earnings results on Tuesday, June 8th. The company reported $0.57 EPS for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.09). The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $2.01 billion. Campbell Soup had a net margin of 9.18% and a return on equity of 33.21%. Campbell Soup’s quarterly revenue was down 11.3% on a year-over-year basis. During the same quarter last year, the company earned $0.83 earnings per share. Equities research analysts expect that Campbell Soup will post 2.91 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 2nd. Investors of record on Wednesday, July 14th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.25%. The ex-dividend date is Tuesday, July 13th. Campbell Soup’s payout ratio is currently 50.17%.
About Campbell Soup
Campbell Soup Company, together with its subsidiaries, engages in the manufacture and market food and beverage products. It operates through Meals & Beverages and Snacks segments. The Meals & Beverages segment engages in the retail and foodservice businesses in the United States and Canada. This segment provides Campbell's condensed and ready-to-serve soups; Swanson broth and stocks; Pacific Foods broth, soups, and non-dairy beverages; Prego pasta sauces; Pace Mexican sauces; Campbell's gravies, pasta, beans, and dinner sauces; Swanson canned poultry; Plum baby food and snacks; V8 juices and beverages; V8 juices and beverages; and Campbell's tomato juice.
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