Allspring Global Investments Holdings LLC Has $20.44 Million Position in Campbell Soup (NASDAQ:CPB)

Allspring Global Investments Holdings LLC cut its holdings in Campbell Soup (NASDAQ:CPB) by 39.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 417,713 shares of the company’s stock after selling 277,543 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Campbell Soup were worth $20,435,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Campbell Soup in the second quarter valued at about $32,000. nVerses Capital LLC acquired a new position in shares of Campbell Soup in the third quarter valued at about $34,000. Larson Financial Group LLC grew its stake in shares of Campbell Soup by 3,760.9% in the first quarter. Larson Financial Group LLC now owns 888 shares of the company’s stock valued at $39,000 after acquiring an additional 865 shares in the last quarter. TruNorth Capital Management LLC acquired a new position in shares of Campbell Soup in the second quarter valued at about $44,000. Finally, Rothschild Investment LLC acquired a new position in shares of Campbell Soup in the second quarter valued at about $44,000. 52.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus reiterated a “hold” rating and set a $45.00 price objective on shares of Campbell Soup in a research note on Tuesday, August 27th. Royal Bank of Canada increased their price objective on shares of Campbell Soup from $47.00 to $51.00 and gave the stock a “sector perform” rating in a research note on Friday, September 13th. Wells Fargo & Company increased their price objective on shares of Campbell Soup from $49.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 11th. StockNews.com upgraded shares of Campbell Soup from a “sell” rating to a “hold” rating in a research note on Thursday, September 26th. Finally, DA Davidson downgraded shares of Campbell Soup from a “buy” rating to a “neutral” rating and set a $51.00 price objective on the stock. in a research note on Friday, September 27th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $50.83.

Campbell Soup Stock Performance

NASDAQ:CPB opened at $46.99 on Friday. The company has a market capitalization of $14.03 billion, a PE ratio of 19.02, a P/E/G ratio of 2.83 and a beta of 0.18. The company has a 50 day simple moving average of $49.44 and a two-hundred day simple moving average of $46.86. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.22 and a current ratio of 0.61. Campbell Soup has a fifty-two week low of $39.63 and a fifty-two week high of $52.81.

Campbell Soup (NASDAQ:CPB) last released its earnings results on Thursday, August 29th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. Campbell Soup had a net margin of 5.88% and a return on equity of 24.08%. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.50 EPS. Research analysts anticipate that Campbell Soup will post 3.2 earnings per share for the current year.

Campbell Soup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Thursday, October 3rd will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.15%. The ex-dividend date is Thursday, October 3rd. Campbell Soup’s dividend payout ratio (DPR) is 59.92%.

Campbell Soup Company 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.