Ieq Capital LLC purchased a new position in Campbell Soup (NYSE:CPB – Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,007 shares of the company’s stock, valued at approximately $275,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Pathstone Family Office LLC increased its holdings in Campbell Soup by 0.8% in the 4th quarter. Pathstone Family Office LLC now owns 25,351 shares of the company’s stock worth $1,439,000 after acquiring an additional 199 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in Campbell Soup by 0.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 45,001 shares of the company’s stock worth $2,553,000 after acquiring an additional 213 shares in the last quarter. Gradient Investments LLC grew its holdings in shares of Campbell Soup by 77.7% during the first quarter. Gradient Investments LLC now owns 519 shares of the company’s stock worth $29,000 after buying an additional 227 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Campbell Soup by 6.6% during the fourth quarter. Van ECK Associates Corp now owns 4,220 shares of the company’s stock worth $239,000 after buying an additional 261 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its holdings in shares of Campbell Soup by 0.7% during the third quarter. Neuberger Berman Group LLC now owns 38,244 shares of the company’s stock worth $1,802,000 after buying an additional 268 shares in the last quarter. Hedge funds and other institutional investors own 50.00% of the company’s stock.
Analyst Ratings Changes
A number of research firms have commented on CPB. Barclays decreased their target price on shares of Campbell Soup from $50.00 to $49.00 and set an “underweight” rating on the stock in a research report on Thursday, July 20th. Bank of America lowered their target price on shares of Campbell Soup from $51.00 to $49.00 in a research report on Thursday, June 8th. Evercore ISI decreased their price target on Campbell Soup from $55.00 to $53.00 in a report on Thursday, June 8th. Royal Bank of Canada reduced their target price on Campbell Soup from $50.00 to $49.00 in a report on Thursday, June 8th. Finally, StockNews.com downgraded Campbell Soup from a “buy” rating to a “hold” rating in a report on Thursday, June 8th. Three analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to MarketBeat.com, Campbell Soup currently has a consensus rating of “Hold” and an average target price of $50.75.
Campbell Soup Stock Performance
Campbell Soup (NYSE:CPB – Get Free Report) last announced its earnings results on Wednesday, June 7th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. Campbell Soup had a return on equity of 26.31% and a net margin of 8.46%. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same period in the prior year, the company posted $0.70 EPS. Campbell Soup’s quarterly revenue was up 4.6% on a year-over-year basis. Analysts forecast that Campbell Soup will post 3 EPS for the current fiscal year.
Campbell Soup Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Thursday, July 6th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.20%. Campbell Soup’s dividend payout ratio (DPR) is 56.71%.
Campbell Soup Company Profile
Campbell Soup Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States and internationally. The company operates through Meals & Beverages and Snacks segments. The Meals & Beverages segment engages in the retail and foodservice businesses in the United States and Canada.
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