Hennion & Walsh Asset Management Inc. Raises Stake in Campbell Soup (NYSE:CPB)

Posted by on Mar 24th, 2023

Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Campbell Soup (NYSE:CPB – Get Rating) by 119.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 14,990 shares of the company’s stock after purchasing an additional 8,170 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Campbell Soup were worth $851,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of CPB. Vanguard Group Inc. boosted its holdings in shares of Campbell Soup by 0.9% in the third quarter. Vanguard Group Inc. now owns 23,656,041 shares of the company’s stock valued at $1,114,673,000 after acquiring an additional 213,004 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Campbell Soup by 3.1% in the third quarter. BlackRock Inc. now owns 16,317,414 shares of the company’s stock valued at $768,878,000 after acquiring an additional 487,385 shares in the last quarter. State Street Corp boosted its holdings in shares of Campbell Soup by 3.5% in the second quarter. State Street Corp now owns 12,608,907 shares of the company’s stock valued at $605,858,000 after acquiring an additional 426,864 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Campbell Soup by 9.5% in the second quarter. Renaissance Technologies LLC now owns 3,620,368 shares of the company’s stock valued at $173,959,000 after acquiring an additional 314,100 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Campbell Soup by 6.0% in the third quarter. First Trust Advisors LP now owns 2,847,218 shares of the company’s stock valued at $134,161,000 after acquiring an additional 160,697 shares in the last quarter. 50.39% of the stock is owned by hedge funds and other institutional investors.

Campbell Soup Stock Performance

NYSE:CPB opened at $53.50 on Friday. The firm has a 50 day simple moving average of $52.44 and a 200-day simple moving average of $52.09. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.77 and a quick ratio of 0.31. The firm has a market cap of $16.02 billion, a PE ratio of 19.81, a P/E/G ratio of 4.56 and a beta of 0.34. Campbell Soup has a 1-year low of $43.00 and a 1-year high of $57.78.

Campbell Soup (NYSE:CPB – Get Rating) last posted its quarterly earnings data on Wednesday, March 8th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. The business had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.43 billion. Campbell Soup had a net margin of 8.86% and a return on equity of 26.97%. The company’s revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.69 earnings per share. On average, equities analysts expect that Campbell Soup will post 3.01 EPS for the current year.

Campbell Soup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 1st. Stockholders of record on Thursday, April 6th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Wednesday, April 5th. Campbell Soup’s dividend payout ratio is presently 54.81%.

Analyst Ratings Changes

Several brokerages have recently weighed in on CPB. Bank of America lifted their target price on shares of Campbell Soup from $50.00 to $51.00 in a report on Thursday, March 9th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Campbell Soup from $54.00 to $53.00 and set a “hold” rating for the company in a research note on Monday. Piper Sandler raised their price objective on shares of Campbell Soup from $46.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, December 8th. JPMorgan Chase & Co. raised their price objective on shares of Campbell Soup from $53.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, March 9th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $50.00 price objective on shares of Campbell Soup in a research note on Thursday, March 9th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $51.33.

Campbell Soup Profile

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Campbell Soup Co engages in the business of manufacturing and marketing food and beverage products. It operates under the Meals and Beverages, and Snacks segments. The Meals and Beverages segment includes soup, meals, and beverage products in retail and foodservice. The Snacks segment offers cookies, crackers, bakery, and frozen products.

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Institutional Ownership by Quarter for Campbell Soup (NYSE:CPB)

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