Campbell Soup (NYSE:CPB) Shares Sold by OLD National Bancorp IN

Posted by on Apr 25th, 2023

OLD National Bancorp IN lowered its position in Campbell Soup (NYSE:CPB – Get Rating) by 10.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,100 shares of the company’s stock after selling 991 shares during the quarter. OLD National Bancorp IN’s holdings in Campbell Soup were worth $460,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in CPB. State Street Corp increased its stake in shares of Campbell Soup by 16.8% during the first quarter. State Street Corp now owns 12,182,043 shares of the company’s stock valued at $542,954,000 after acquiring an additional 1,749,650 shares during the period. Vanguard Group Inc. increased its stake in shares of Campbell Soup by 6.3% during the first quarter. Vanguard Group Inc. now owns 23,259,524 shares of the company’s stock valued at $1,036,678,000 after acquiring an additional 1,387,605 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Campbell Soup by 74.6% during the second quarter. Goldman Sachs Group Inc. now owns 1,450,459 shares of the company’s stock worth $69,694,000 after buying an additional 619,831 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in Campbell Soup by 703.2% during the third quarter. Two Sigma Advisers LP now owns 688,300 shares of the company’s stock worth $32,433,000 after buying an additional 602,600 shares in the last quarter. Finally, Two Sigma Investments LP boosted its holdings in Campbell Soup by 158.4% during the third quarter. Two Sigma Investments LP now owns 876,056 shares of the company’s stock worth $41,280,000 after buying an additional 537,042 shares in the last quarter. Institutional investors and hedge funds own 50.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. StockNews.com upgraded shares of Campbell Soup from a “hold” rating to a “buy” rating in a report on Friday, March 10th. Credit Suisse Group raised their price target on shares of Campbell Soup from $50.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday, March 9th. Stifel Nicolaus started coverage on shares of Campbell Soup in a report on Thursday, April 13th. They issued a “hold” rating and a $55.00 target price on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $50.00 price objective on shares of Campbell Soup in a report on Thursday, March 9th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Campbell Soup from $54.00 to $53.00 and set a “hold” rating on the stock in a report on Monday, March 20th. Two investment 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. Based on data from MarketBeat.com, Campbell Soup has an average rating of “Hold” and an average price target of $51.92.

Campbell Soup Price Performance

Shares of Campbell Soup stock opened at $53.49 on Tuesday. The company has a 50-day simple moving average of $53.73 and a two-hundred day simple moving average of $53.23. The stock has a market capitalization of $16.02 billion, a price-to-earnings ratio of 19.81, a price-to-earnings-growth ratio of 4.52 and a beta of 0.34. The company has a quick ratio of 0.31, a current ratio of 0.77 and a debt-to-equity ratio of 1.11. Campbell Soup has a twelve month low of $44.37 and a twelve month high of $57.78.

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

Campbell Soup Announces Dividend

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

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.

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

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