Principal Financial Group Inc. Sells 3,316 Shares of Campbell Soup (NYSE:CPB)

Posted by Defense World Staff on May 24th, 2023

Principal Financial Group Inc. reduced its position in shares of Campbell Soup (NYSE:CPB – Get Rating) by 1.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 268,565 shares of the company’s stock after selling 3,316 shares during the period. Principal Financial Group Inc. owned 0.09% of Campbell Soup worth $15,241,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Old North State Trust LLC acquired a new position in Campbell Soup during the 3rd quarter valued at $25,000. EverSource Wealth Advisors LLC raised its stake in Campbell Soup by 121.5% during the 3rd 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 last quarter. Exos TFP Holdings LLC acquired a new position in Campbell Soup during the 3rd quarter valued at $26,000. Parkside Financial Bank & Trust raised its stake in shares of Campbell Soup by 149.8% in the 1st quarter. Parkside Financial Bank & Trust now owns 597 shares of the company’s stock valued at $27,000 after buying an additional 358 shares in the last quarter. Finally, Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new position in shares of Campbell Soup in the 4th quarter valued at $32,000. 50.39% of the stock is owned by institutional investors.

Campbell Soup Stock Up 0.5 %

Shares of NYSE CPB opened at $51.87 on Wednesday. The firm has a market capitalization of $15.53 billion, a PE ratio of 19.21, a price-to-earnings-growth ratio of 4.44 and a beta of 0.34. The company has a current ratio of 0.77, a quick ratio of 0.31 and a debt-to-equity ratio of 1.11. Campbell Soup has a 1 year low of $44.37 and a 1 year high of $57.78. The firm’s 50-day moving average is $54.34 and its 200-day moving average is $53.72.

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

Campbell Soup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Thursday, July 6th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.85%. Campbell Soup’s payout ratio is currently 54.82%.

Wall Street Analyst Weigh In

CPB has been the subject of a number of recent analyst reports. Credit Suisse Group increased their target price on shares of Campbell Soup from $50.00 to $51.00 and gave the stock a “neutral” rating in a research report on Thursday, March 9th. Bank of America increased their target price on shares of Campbell Soup from $50.00 to $51.00 in a research report on Thursday, March 9th. JPMorgan Chase & Co. increased their target price on shares of Campbell Soup from $53.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, March 9th. StockNews.com initiated coverage on shares of Campbell Soup in a research report on Thursday, May 18th. They set a “buy” rating for the company. Finally, Stifel Nicolaus initiated coverage on shares of Campbell Soup in a report on Thursday, April 13th. They set a “hold” rating and a $55.00 price objective on the stock. 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average 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.