Pensionfund Sabic Cuts Stock Holdings in Campbell Soup (NYSE:CPB)

Pensionfund Sabic lessened its position in shares of Campbell Soup (NYSE:CPB) by 7.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,000 shares of the company’s stock after selling 2,000 shares during the quarter. Pensionfund Sabic’s holdings in Campbell Soup were worth $1,111,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CPB. Massmutual Trust Co. FSB ADV grew its position in shares of Campbell Soup by 165.7% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the company’s stock valued at $28,000 after acquiring an additional 406 shares during the period. Jones Financial Companies Lllp acquired a new stake in Campbell Soup in the fourth quarter valued at approximately $31,000. Lindbrook Capital LLC raised its stake in shares of Campbell Soup by 79.9% during the 4th quarter. Lindbrook Capital LLC now owns 1,011 shares of the company’s stock worth $44,000 after buying an additional 449 shares during the period. Neo Ivy Capital Management acquired a new position in shares of Campbell Soup during the 3rd quarter worth approximately $67,000. Finally, Headinvest LLC purchased a new position in shares of Campbell Soup during the 3rd quarter valued at approximately $86,000. Hedge funds and other institutional investors own 52.35% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on CPB shares. Citigroup upped their price objective on shares of Campbell Soup from $41.00 to $42.00 and gave the stock a “sell” rating in a research report on Thursday, May 23rd. Wells Fargo & Company boosted their price objective on Campbell Soup from $45.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Friday, June 7th. Piper Sandler reissued a “neutral” rating and set a $47.00 target price on shares of Campbell Soup in a report on Tuesday, March 26th. Evercore ISI assumed coverage on shares of Campbell Soup in a research note on Wednesday, March 13th. They issued an “in-line” rating and a $49.00 price target on the stock. Finally, Sanford C. Bernstein raised Campbell Soup from an “underperform” rating to a “market perform” rating and increased their price target for the company from $42.00 to $46.00 in a report on Wednesday, May 15th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Campbell Soup currently has an average rating of “Hold” and a consensus price target of $46.31.

Campbell Soup Stock Performance

Shares of CPB opened at $44.96 on Thursday. The company has a quick ratio of 0.24, a current ratio of 0.62 and a debt-to-equity ratio of 1.47. Campbell Soup has a 52-week low of $37.94 and a 52-week high of $46.97. The stock has a 50 day moving average price of $44.66 and a 200 day moving average price of $43.77. The company has a market capitalization of $13.42 billion, a price-to-earnings ratio of 18.20, a price-to-earnings-growth ratio of 2.86 and a beta of 0.19.

Campbell Soup (NYSE:CPB) last announced its quarterly earnings results on Wednesday, June 5th. The company reported $0.75 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $2.34 billion. During the same period last year, the business earned $0.68 EPS. Campbell Soup’s revenue for the quarter was up 6.3% compared to the same quarter last year. Research analysts predict that Campbell Soup will post 3.08 EPS for the current fiscal year.

Campbell Soup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Wednesday, July 3rd will be paid a dividend of $0.37 per share. The ex-dividend date is Wednesday, July 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 3.29%. Campbell Soup’s dividend payout ratio is presently 59.92%.

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.