Shell Asset Management Co. Sells 333 Shares of Campbell Soup (NYSE:CPB)

Posted by Defense World Staff on May 9th, 2023

Shell Asset Management Co. cut its stake in Campbell Soup (NYSE:CPB – Get Rating) by 6.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,193 shares of the company’s stock after selling 333 shares during the quarter. Shell Asset Management Co.’s holdings in Campbell Soup were worth $295,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Old North State Trust LLC bought a new stake in Campbell Soup in the third quarter worth $25,000. EverSource Wealth Advisors LLC boosted its stake in shares of Campbell Soup by 121.5% during the third quarter. EverSource Wealth Advisors LLC now owns 536 shares of the company’s stock valued at $26,000 after purchasing an additional 294 shares during the period. Exos TFP Holdings LLC purchased a new stake in shares of Campbell Soup during the third quarter valued at $26,000. Parkside Financial Bank & Trust boosted its stake in shares of Campbell Soup by 149.8% during the first quarter. Parkside Financial Bank & Trust now owns 597 shares of the company’s stock valued at $27,000 after purchasing an additional 358 shares during the period. Finally, Beaird Harris Wealth Management LLC purchased a new stake in shares of Campbell Soup during the third quarter valued at $31,000. 50.39% of the stock is currently owned by institutional investors.

Campbell Soup Stock Performance

Shares of Campbell Soup stock opened at $54.46 on Tuesday. The company has a market capitalization of $16.31 billion, a PE ratio of 20.17, a P/E/G ratio of 4.61 and a beta of 0.34. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.31 and a current ratio of 0.77. The company has a 50-day simple moving average of $54.18 and a two-hundred day simple moving average of $53.59. Campbell Soup has a one year low of $44.37 and a one year high of $57.78.

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

Campbell Soup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 1st. Stockholders of record on Thursday, April 6th were issued a dividend of $0.37 per share. The ex-dividend date was Wednesday, April 5th. This represents a $1.48 annualized dividend and a dividend yield of 2.72%. Campbell Soup’s dividend payout ratio (DPR) is currently 54.82%.

Wall Street Analysts Forecast Growth

CPB has been the subject of a number of recent analyst reports. Credit Suisse Group boosted their target price on shares of Campbell Soup from $50.00 to $51.00 and gave the company a “neutral” rating in a research note on Thursday, March 9th. Royal Bank of Canada reissued a “sector perform” rating and set a $50.00 target price on shares of Campbell Soup in a research note on Thursday, March 9th. StockNews.com raised shares of Campbell Soup from a “hold” rating to a “buy” rating in a research note on Friday, March 10th. Deutsche Bank Aktiengesellschaft decreased their price objective on Campbell Soup from $54.00 to $53.00 and set a “hold” rating for the company in a report on Monday, March 20th. Finally, Stifel Nicolaus began coverage on Campbell Soup in a report on Thursday, April 13th. They issued a “hold” rating and a $55.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Campbell Soup currently has a consensus rating of “Hold” and an average target price of $51.92.

About Campbell Soup

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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.