ProShare Advisors LLC Sells 1,429 Shares of Campbell Soup (NYSE:CPB)

Posted by Defense World Staff on Apr 25th, 2023

ProShare Advisors LLC cut its position in Campbell Soup (NYSE:CPB – Get Rating) by 3.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,190 shares of the company’s stock after selling 1,429 shares during the quarter. ProShare Advisors LLC’s holdings in Campbell Soup were worth $2,508,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CPB. Raymond James Financial Services Advisors Inc. grew its position in shares of Campbell Soup by 29.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 29,150 shares of the company’s stock valued at $1,299,000 after purchasing an additional 6,692 shares in the last quarter. HighTower Advisors LLC grew its position in shares of Campbell Soup by 60.0% in the first quarter. HighTower Advisors LLC now owns 20,855 shares of the company’s stock valued at $932,000 after purchasing an additional 7,819 shares in the last quarter. Cetera Advisor Networks LLC grew its position in shares of Campbell Soup by 31.3% in the first quarter. Cetera Advisor Networks LLC now owns 11,020 shares of the company’s stock valued at $491,000 after purchasing an additional 2,628 shares in the last quarter. MetLife Investment Management LLC grew its position in shares of Campbell Soup by 22.7% in the first quarter. MetLife Investment Management LLC now owns 54,864 shares of the company’s stock valued at $2,445,000 after purchasing an additional 10,144 shares in the last quarter. Finally, Rhumbline Advisers grew its position in shares of Campbell Soup by 6.8% in the first quarter. Rhumbline Advisers now owns 319,394 shares of the company’s stock valued at $14,235,000 after purchasing an additional 20,335 shares in the last quarter. 50.39% of the stock is currently owned by institutional investors.

Campbell Soup Price Performance

CPB opened at $53.49 on Tuesday. The stock has a 50-day moving average price of $53.73 and a 200-day moving average price of $53.23. Campbell Soup has a 12-month low of $44.37 and a 12-month high of $57.78. The company has a current ratio of 0.77, a quick ratio of 0.31 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $16.02 billion, a P/E ratio of 19.81, a PEG ratio of 4.52 and a beta of 0.34.

Campbell Soup (NYSE:CPB – Get Rating) last posted its quarterly earnings data on Wednesday, March 8th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. Campbell Soup had a return on equity of 26.97% and a net margin of 8.86%. The firm had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same period in the prior year, the business earned $0.69 EPS. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. Equities analysts predict that Campbell Soup will post 3.01 earnings per share for the current fiscal year.

Campbell Soup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Stockholders of record on Thursday, April 6th will be paid 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 (DPR) is presently 54.81%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. StockNews.com upgraded Campbell Soup from a “hold” rating to a “buy” rating in a research report on Friday, March 10th. Deutsche Bank Aktiengesellschaft reduced their price target on Campbell Soup from $54.00 to $53.00 and set a “hold” rating for the company in a research report on Monday, March 20th. Credit Suisse Group boosted their target price on Campbell Soup from $50.00 to $51.00 and gave the stock a “neutral” rating in a research report on Thursday, March 9th. Royal Bank of Canada restated a “sector perform” rating and set a $50.00 target price on shares of Campbell Soup in a research report on Thursday, March 9th. Finally, Bank of America boosted their target price on Campbell Soup from $50.00 to $51.00 in a research report on Thursday, March 9th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Campbell Soup presently has a consensus rating of “Hold” and a consensus price target of $51.92.

Campbell Soup Company 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.

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

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