Stock Traders Purchase High Volume of Campbell Soup Put Options (NYSE:CPB)

Posted by Defense World Staff on Jun 8th, 2023

Campbell Soup (NYSE:CPB – Get Rating) was the recipient of unusually large options trading on Wednesday. Stock traders acquired 4,838 put options on the company. This represents an increase of approximately 70% compared to the typical volume of 2,848 put options.

Institutional Trading of Campbell Soup

Institutional investors and hedge funds have recently bought and sold shares of the stock. Old North State Trust LLC bought a new position in shares of Campbell Soup during the third quarter worth approximately $25,000. Exos TFP Holdings LLC acquired a new stake in shares of Campbell Soup in the 3rd quarter valued at $26,000. Parkside Financial Bank & Trust boosted its holdings 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 purchasing an additional 358 shares in the last quarter. Gradient Investments LLC boosted its holdings in shares of Campbell Soup by 77.7% in the 1st quarter. Gradient Investments LLC now owns 519 shares of the company’s stock valued at $29,000 after purchasing an additional 227 shares in the last quarter. Finally, Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new stake in shares of Campbell Soup in the 4th quarter valued at $32,000. Institutional investors own 50.39% of the company’s stock.

Analyst Upgrades and Downgrades

CPB has been the subject of several research analyst reports. Credit Suisse Group increased their target price on Campbell Soup from $50.00 to $51.00 and gave the company a “neutral” rating in a research note on Thursday, March 9th. StockNews.com initiated coverage on Campbell Soup in a research report on Thursday, May 18th. They issued a “buy” rating for the company. Stifel Nicolaus assumed coverage on Campbell Soup in a research note on Thursday, April 13th. They set a “hold” rating and a $55.00 price target for the company. Bank of America raised their price objective on Campbell Soup from $50.00 to $51.00 in a research note on Thursday, March 9th. Finally, JPMorgan Chase & Co. lifted their price objective on Campbell Soup from $53.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, March 9th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $51.92.

Campbell Soup Stock Down 8.9 %

NYSE:CPB opened at $46.09 on Thursday. Campbell Soup has a 1 year low of $44.37 and a 1 year 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 cap of $13.80 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 4.47 and a beta of 0.36. The stock has a 50-day moving average price of $53.57 and a two-hundred day moving average price of $53.72.

Campbell Soup (NYSE:CPB – Get Rating) last posted its quarterly earnings data on Wednesday, June 7th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.03. The company had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.23 billion. Campbell Soup had a return on equity of 26.97% and a net margin of 8.86%. Campbell Soup’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.70 earnings per share. As a group, equities analysts expect that Campbell Soup will post 3.01 earnings per share for the current year.

Campbell Soup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Thursday, July 6th will be issued a dividend of $0.37 per share. The ex-dividend date is Wednesday, July 5th. This represents a $1.48 annualized dividend and a yield of 3.21%. Campbell Soup’s payout ratio is presently 54.82%.

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.

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