Cwm LLC Grows Position in Campbell Soup (NYSE:CPB)

Posted by Defense World Staff on Jul 29th, 2023

Cwm LLC lifted its holdings in shares of Campbell Soup (NYSE:CPB – Free Report) by 23.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,853 shares of the company’s stock after buying an additional 725 shares during the period. Cwm LLC’s holdings in Campbell Soup were worth $212,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CPB. Raymond James Financial Services Advisors Inc. boosted its position in shares of Campbell Soup by 29.8% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 29,150 shares of the company’s stock valued at $1,299,000 after buying an additional 6,692 shares during the last quarter. HighTower Advisors LLC boosted its position in shares of Campbell Soup by 60.0% during the first quarter. HighTower Advisors LLC now owns 20,855 shares of the company’s stock valued at $932,000 after buying an additional 7,819 shares during the last quarter. Cetera Advisor Networks LLC boosted its position in shares of Campbell Soup by 31.3% during the first quarter. Cetera Advisor Networks LLC now owns 11,020 shares of the company’s stock valued at $491,000 after buying an additional 2,628 shares during the last quarter. MetLife Investment Management LLC boosted its position in shares of Campbell Soup by 22.7% during the first quarter. MetLife Investment Management LLC now owns 54,864 shares of the company’s stock valued at $2,445,000 after buying an additional 10,144 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Campbell Soup by 6.8% during the first quarter. Rhumbline Advisers now owns 319,394 shares of the company’s stock valued at $14,235,000 after buying an additional 20,335 shares during the last quarter. 50.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Barclays lowered their target price on Campbell Soup from $50.00 to $49.00 and set an “underweight” rating on the stock in a report on Thursday, July 20th. Deutsche Bank Aktiengesellschaft lowered their target price on Campbell Soup from $53.00 to $52.00 in a report on Monday, June 12th. 888 reissued a “maintains” rating on shares of Campbell Soup in a report on Monday, June 26th. Piper Sandler lowered their target price on Campbell Soup from $52.00 to $50.00 in a report on Monday, June 26th. Finally, Evercore ISI lowered their target price on Campbell Soup from $55.00 to $53.00 in a report on Thursday, June 8th. Three research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $50.75.

Campbell Soup Stock Up 0.4 %

Shares of CPB opened at $46.24 on Friday. The business’s 50 day moving average is $47.24 and its 200 day moving average is $51.29. The company has a market capitalization of $13.78 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 4.54 and a beta of 0.33. Campbell Soup has a 12-month low of $44.76 and a 12-month high of $57.78. The company has a current ratio of 0.92, a quick ratio of 0.36 and a debt-to-equity ratio of 1.25.

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, beating the consensus estimate of $0.65 by $0.03. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.23 billion. Campbell Soup had a return on equity of 26.31% and a net margin of 8.46%. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the company earned $0.70 EPS. Research analysts expect that Campbell Soup will post 3 earnings per share for the current fiscal year.

Campbell Soup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Thursday, July 6th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend is Wednesday, July 5th. Campbell Soup’s dividend payout ratio is presently 56.71%.

Campbell Soup Company Profile

(Free Report)

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.