Campbell Soup (NYSE:CPB) Shares Acquired by AE Wealth Management LLC

Posted by on Sep 29th, 2023

AE Wealth Management LLC grew its position in Campbell Soup (NYSE:CPB – Free Report) by 104.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,767 shares of the company’s stock after buying an additional 6,518 shares during the quarter. AE Wealth Management LLC’s holdings in Campbell Soup were worth $584,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. SG Americas Securities LLC grew its stake in shares of Campbell Soup by 47.3% in the second quarter. SG Americas Securities LLC now owns 107,349 shares of the company’s stock valued at $4,907,000 after buying an additional 34,484 shares in the last quarter. DNB Asset Management AS grew its stake in Campbell Soup by 31.1% during the 2nd quarter. DNB Asset Management AS now owns 69,072 shares of the company’s stock worth $3,157,000 after purchasing an additional 16,392 shares in the last quarter. Nordea Investment Management AB grew its stake in Campbell Soup by 12.8% during the 2nd quarter. Nordea Investment Management AB now owns 1,021,692 shares of the company’s stock worth $46,783,000 after purchasing an additional 116,184 shares in the last quarter. DnB Asset Management AS grew its stake in Campbell Soup by 31.1% during the 2nd quarter. DnB Asset Management AS now owns 69,072 shares of the company’s stock worth $3,157,000 after purchasing an additional 16,392 shares in the last quarter. Finally, Berkshire Asset Management LLC PA acquired a new position in Campbell Soup during the 1st quarter worth $246,000. 50.73% of the stock is owned by institutional investors and hedge funds.

Campbell Soup Stock Performance

Shares of CPB stock opened at $41.27 on Friday. The stock has a market capitalization of $12.29 billion, a PE ratio of 14.43, a price-to-earnings-growth ratio of 3.30 and a beta of 0.34. Campbell Soup has a 52-week low of $40.76 and a 52-week high of $57.78. The stock’s 50-day moving average price is $43.21 and its 200 day moving average price is $48.37. The company has a quick ratio of 0.36, a current ratio of 0.93 and a debt-to-equity ratio of 1.23.

Campbell Soup (NYSE:CPB – Get Free Report) last issued its quarterly earnings results on Thursday, August 31st. The company reported $0.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.50. The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Campbell Soup had a return on equity of 25.14% and a net margin of 9.17%. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.56 EPS. As a group, equities research analysts forecast that Campbell Soup will post 3.06 EPS for the current year.

Campbell Soup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 30th. Investors of record on Thursday, October 5th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend is Wednesday, October 4th. Campbell Soup’s dividend payout ratio (DPR) is presently 51.75%.

Insider Activity at Campbell Soup

In other Campbell Soup news, VP Stanley Polomski sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $43.35, for a total transaction of $346,800.00. Following the transaction, the vice president now owns 33,162 shares in the company, valued at approximately $1,437,572.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 21.05% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts recently commented on the company. Barclays lowered their target price on Campbell Soup from $49.00 to $45.00 and set an “underweight” rating for the company in a research note on Sunday, September 3rd. Jefferies Financial Group lowered their target price on Campbell Soup from $49.00 to $46.00 and set a “hold” rating for the company in a research note on Tuesday, August 22nd. StockNews.com assumed coverage on Campbell Soup in a research note on Thursday, August 17th. They set a “hold” rating for the company. TD Cowen started coverage on Campbell Soup in a research note on Wednesday, September 13th. They set a “market perform” rating and a $45.00 target price for the company. Finally, JPMorgan Chase & Co. decreased their price target on Campbell Soup from $49.00 to $47.00 and set a “neutral” rating for the company in a report on Monday, August 21st. Four investment analysts have rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $47.21.

Check Out Our Latest Stock Report on Campbell Soup

Campbell Soup 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.

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Institutional Ownership by Quarter for Campbell Soup (NYSE:CPB)

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