Alberta Investment Management Corp purchased a new stake in Campbell Soup (NYSE:CPB) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 71,100 shares of the company’s stock, valued at approximately $3,282,000.
Other hedge funds also recently bought and sold shares of the company. Ameritas Investment Company LLC lifted its stake in shares of Campbell Soup by 81.3% in the 4th quarter. Ameritas Investment Company LLC now owns 553 shares of the company’s stock valued at $27,000 after purchasing an additional 248 shares during the period. Bessemer Group Inc. acquired a new position in shares of Campbell Soup in the 4th quarter valued at $31,000. Orion Portfolio Solutions LLC acquired a new position in shares of Campbell Soup in the 4th quarter valued at $31,000. Point72 Hong Kong Ltd acquired a new position in shares of Campbell Soup in the 4th quarter valued at $42,000. Finally, Allworth Financial LP lifted its stake in shares of Campbell Soup by 240.0% in the 1st quarter. Allworth Financial LP now owns 850 shares of the company’s stock valued at $39,000 after purchasing an additional 600 shares during the period. 51.36% of the stock is currently owned by institutional investors.
A number of research analysts have recently weighed in on CPB shares. JPMorgan Chase & Co. increased their price target on Campbell Soup from $51.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, April 17th. Jefferies Financial Group reissued a “hold” rating and issued a $53.00 price target on shares of Campbell Soup in a research note on Tuesday, March 24th. Barclays reaffirmed a “sell” rating and set a $51.00 price objective on shares of Campbell Soup in a research note on Friday, April 17th. Piper Sandler raised their price objective on Campbell Soup from $55.00 to $58.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Zacks Investment Research downgraded Campbell Soup from a “buy” rating to a “hold” rating and set a $60.00 price objective on the stock. in a research note on Tuesday. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $50.44.
CPB stock opened at $48.35 on Friday. The stock has a 50-day moving average price of $50.16 and a two-hundred day moving average price of $48.48. The stock has a market cap of $14.24 billion, a PE ratio of 10.14, a price-to-earnings-growth ratio of 2.36 and a beta of 0.43. The company has a current ratio of 0.61, a quick ratio of 0.31 and a debt-to-equity ratio of 1.97. Campbell Soup has a 1 year low of $35.27 and a 1 year high of $57.54.
Campbell Soup (NYSE:CPB) last released its earnings results on Wednesday, March 4th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.06. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Campbell Soup had a return on equity of 50.69% and a net margin of 17.46%. The company’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.79 EPS. On average, analysts forecast that Campbell Soup will post 2.79 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, April 27th. Shareholders of record on Thursday, April 9th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date was Wednesday, April 8th. Campbell Soup’s dividend payout ratio (DPR) is presently 60.87%.
Campbell Soup Profile
Campbell Soup Company, together with its subsidiaries, manufactures and markets branded food and beverage products. It operates through three segments: Americas Simple Meals and Beverages, Global Biscuits and Snacks, and Campbell Fresh. The Americas Simple Meals and Beverages segment engages in the retail and food service of Campbell's condensed and ready-to-serve soups; Swanson broth and stocks; Prego pasta sauces; Pace Mexican sauces; Campbell's gravies, pastas, beans, and dinner sauces; Swanson canned poultry products; Plum food and snack products; V8 juices and beverages; Campbell's tomato juices; and Pacific broth, soups, non-dairy beverages, and other simple meals.
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