Caprock Group LLC Acquires 3,573 Shares of Campbell Soup (NASDAQ:CPB)

Caprock Group LLC boosted its holdings in shares of Campbell Soup (NASDAQ:CPB) by 53.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,270 shares of the company’s stock after buying an additional 3,573 shares during the quarter. Caprock Group LLC’s holdings in Campbell Soup were worth $502,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CPB. LSV Asset Management boosted its holdings in Campbell Soup by 5,022.5% in the 2nd quarter. LSV Asset Management now owns 2,438,300 shares of the company’s stock worth $110,187,000 after buying an additional 2,390,700 shares during the period. Wulff Hansen & CO. boosted its stake in shares of Campbell Soup by 4,419.0% in the second quarter. Wulff Hansen & CO. now owns 732,530 shares of the company’s stock worth $33,103,000 after acquiring an additional 716,320 shares during the period. Victory Capital Management Inc. grew its position in shares of Campbell Soup by 88.2% during the third quarter. Victory Capital Management Inc. now owns 1,192,610 shares of the company’s stock worth $58,342,000 after purchasing an additional 558,944 shares in the last quarter. Armistice Capital LLC raised its stake in Campbell Soup by 94.0% during the 2nd quarter. Armistice Capital LLC now owns 1,067,914 shares of the company’s stock valued at $48,259,000 after purchasing an additional 517,550 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Campbell Soup by 14.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,876,253 shares of the company’s stock worth $129,971,000 after purchasing an additional 363,736 shares in the last quarter. 52.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CPB shares. Sanford C. Bernstein raised shares of Campbell Soup from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $55.00 to $58.00 in a report on Monday, October 7th. Argus upgraded shares of Campbell Soup from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a report on Friday, September 20th. DA Davidson downgraded shares of Campbell Soup from a “buy” rating to a “neutral” rating and set a $51.00 price objective for the company. in a report on Friday, September 27th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $45.00 target price on shares of Campbell Soup in a report on Tuesday, August 27th. Finally, TD Cowen increased their price target on Campbell Soup from $47.00 to $51.00 and gave the company a “hold” rating in a research note on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Campbell Soup has a consensus rating of “Hold” and an average price target of $51.58.

Campbell Soup Stock Performance

NASDAQ:CPB opened at $45.29 on Friday. The firm has a market capitalization of $13.48 billion, a PE ratio of 23.96, a PEG ratio of 2.59 and a beta of 0.19. The stock’s fifty day moving average is $47.42 and its 200 day moving average is $47.00. Campbell Soup has a fifty-two week low of $39.65 and a fifty-two week high of $52.81. 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 (NASDAQ:CPB) last announced its earnings results on Thursday, August 29th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.01. The business had revenue of $2.29 billion for 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 business’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.50 earnings per share. On average, sell-side analysts anticipate that Campbell Soup will post 3.2 earnings per share for the current year.

Campbell Soup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Thursday, October 3rd were issued a $0.37 dividend. The ex-dividend date was Thursday, October 3rd. This represents a $1.48 annualized dividend and a dividend yield of 3.27%. Campbell Soup’s payout ratio is 78.31%.

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.