Campbell Soup (NASDAQ:CPB) Stock Holdings Cut by Truist Financial Corp

Truist Financial Corp reduced its position in shares of Campbell Soup (NASDAQ:CPB) by 21.5% in the second quarter, HoldingsChannel.com reports. The firm owned 15,407 shares of the company’s stock after selling 4,215 shares during the period. Truist Financial Corp’s holdings in Campbell Soup were worth $696,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CPB. Mather Group LLC. bought a new position in Campbell Soup during the 1st quarter valued at $28,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Campbell Soup during the 2nd quarter worth $32,000. Larson Financial Group LLC boosted its stake in shares of Campbell Soup by 3,760.9% during the 1st quarter. Larson Financial Group LLC now owns 888 shares of the company’s stock worth $39,000 after acquiring an additional 865 shares in the last quarter. TruNorth Capital Management LLC bought a new stake in shares of Campbell Soup during the 2nd quarter worth $44,000. Finally, Rothschild Investment LLC bought a new stake in shares of Campbell Soup during the 2nd quarter worth $44,000. 52.35% of the stock is owned by institutional investors.

Campbell Soup Price Performance

Shares of NASDAQ:CPB opened at $48.36 on Wednesday. Campbell Soup has a fifty-two week low of $39.48 and a fifty-two week high of $52.81. The business has a 50-day moving average of $49.62 and a two-hundred day moving average of $46.68. The stock has a market capitalization of $14.44 billion, a P/E ratio of 19.81, a P/E/G ratio of 2.83 and a beta of 0.18. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.61 and a quick ratio of 0.22.

Campbell Soup (NASDAQ:CPB) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. Campbell Soup had a return on equity of 24.08% and a net margin of 5.88%. The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the previous year, the firm earned $0.50 earnings per share. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. On average, equities research analysts predict that Campbell Soup will post 3.2 EPS for the current fiscal year.

Campbell Soup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Thursday, October 3rd will be given a $0.37 dividend. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.06%. Campbell Soup’s dividend payout ratio is currently 59.92%.

Analyst Ratings Changes

CPB has been the subject of several research reports. JPMorgan Chase & Co. raised their price objective on Campbell Soup from $55.00 to $57.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 11th. Royal Bank of Canada lifted their price target on Campbell Soup from $47.00 to $51.00 and gave the company a “sector perform” rating in a report on Friday, September 13th. Barclays lifted their price target on Campbell Soup from $45.00 to $49.00 and gave the company an “underweight” rating in a report on Thursday, September 12th. DA Davidson downgraded Campbell Soup from a “buy” rating to a “neutral” rating and set a $51.00 price target on the stock. in a report on Friday, September 27th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $45.00 price target on shares of Campbell Soup in a report on Tuesday, August 27th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $50.83.

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.