Retirement Systems of Alabama lessened its holdings in Campbell Soup (NYSE:CPB – Free Report) by 7.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,305 shares of the company’s stock after selling 5,036 shares during the quarter. Retirement Systems of Alabama’s holdings in Campbell Soup were worth $3,261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently made changes to their positions in CPB. Parkside Financial Bank & Trust increased its holdings in Campbell Soup by 149.8% during the first quarter. Parkside Financial Bank & Trust now owns 597 shares of the company’s stock worth $27,000 after buying an additional 358 shares during the last quarter. Gradient Investments LLC increased its stake in shares of Campbell Soup by 77.7% during the 1st quarter. Gradient Investments LLC now owns 519 shares of the company’s stock worth $29,000 after purchasing an additional 227 shares during the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new stake in shares of Campbell Soup in the 4th quarter worth approximately $32,000. Harvest Fund Management Co. Ltd purchased a new position in Campbell Soup in the fourth quarter valued at approximately $37,000. Finally, Quent Capital LLC grew its holdings in Campbell Soup by 347.5% during the fourth quarter. Quent Capital LLC now owns 1,065 shares of the company’s stock valued at $60,000 after purchasing an additional 827 shares during the period. 50.00% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on CPB shares. Bank of America decreased their price objective on Campbell Soup from $51.00 to $49.00 in a report on Thursday, June 8th. Piper Sandler reduced their price objective on shares of Campbell Soup from $52.00 to $50.00 in a research note on Monday, June 26th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Campbell Soup from $53.00 to $52.00 in a report on Monday, June 12th. 888 reiterated a “maintains” rating on shares of Campbell Soup in a research report on Monday, June 26th. Finally, Stifel Nicolaus dropped their price objective on Campbell Soup from $55.00 to $51.00 in a report on Thursday, June 8th. Three research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $50.75.
Campbell Soup Trading Down 0.3 %
Campbell Soup (NYSE:CPB – Get Free Report) last issued its earnings results on Wednesday, June 7th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.03. Campbell Soup had a return on equity of 26.31% and a net margin of 8.46%. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same quarter in the prior year, the firm earned $0.70 earnings per share. Campbell Soup’s revenue for the quarter was up 4.6% on a year-over-year basis. Equities analysts anticipate that Campbell Soup will post 3 EPS for the current fiscal year.
Campbell Soup Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Thursday, July 6th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $1.48 annualized dividend and a yield of 3.21%. Campbell Soup’s payout ratio is 56.70%.
About Campbell Soup
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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