Campbell Soup (NYSE:CPB) Shares Acquired by Pictet Asset Management SA

Pictet Asset Management SA raised its position in shares of Campbell Soup (NYSE:CPBGet Rating) by 4.1% in the second quarter, Holdings Channel.com reports. The fund owned 97,081 shares of the company’s stock after acquiring an additional 3,865 shares during the quarter. Pictet Asset Management SA’s holdings in Campbell Soup were worth $4,665,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Comerica Bank raised its holdings in shares of Campbell Soup by 52.1% during the first quarter. Comerica Bank now owns 39,608 shares of the company’s stock valued at $1,867,000 after acquiring an additional 13,563 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Campbell Soup by 64.4% in the first quarter. Victory Capital Management Inc. now owns 925,468 shares of the company’s stock valued at $43,701,000 after purchasing an additional 362,607 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Campbell Soup by 8.1% in the first quarter. Commonwealth Equity Services LLC now owns 87,775 shares of the company’s stock valued at $3,912,000 after purchasing an additional 6,607 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund increased its holdings in shares of Campbell Soup by 15.7% in the second quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 6,906 shares of the company’s stock valued at $332,000 after purchasing an additional 939 shares during the last quarter. Finally, Aviva PLC increased its holdings in shares of Campbell Soup by 22.1% in the second quarter. Aviva PLC now owns 147,187 shares of the company’s stock valued at $7,072,000 after purchasing an additional 26,620 shares during the last quarter. Institutional investors and hedge funds own 51.16% of the company’s stock.

Insider Activity at Campbell Soup

In related news, EVP Anthony Sanzio sold 3,600 shares of Campbell Soup stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $47.35, for a total value of $170,460.00. Following the completion of the transaction, the executive vice president now directly owns 14,445 shares in the company, valued at $683,970.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 21.05% of the stock is currently owned by company insiders.

Campbell Soup Trading Up 2.1 %

CPB opened at $51.56 on Friday. Campbell Soup has a 52 week low of $39.85 and a 52 week high of $53.28. The business has a fifty day simple moving average of $49.47 and a 200-day simple moving average of $48.88. The firm has a market cap of $15.46 billion, a P/E ratio of 20.62, a P/E/G ratio of 5.88 and a beta of 0.41. The company has a quick ratio of 0.25, a current ratio of 0.68 and a debt-to-equity ratio of 1.20.

Campbell Soup (NYSE:CPBGet Rating) last released its quarterly earnings results on Thursday, September 1st. The company reported $0.56 EPS for the quarter, hitting the consensus estimate of $0.56. Campbell Soup had a return on equity of 25.81% and a net margin of 8.84%. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period last year, the business posted $0.55 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. On average, equities analysts expect that Campbell Soup will post 2.9 earnings per share for the current year.

Campbell Soup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 31st. Investors of record on Thursday, October 6th were issued a $0.37 dividend. The ex-dividend date was Wednesday, October 5th. This represents a $1.48 dividend on an annualized basis and a yield of 2.87%. Campbell Soup’s dividend payout ratio (DPR) is presently 59.20%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CPB shares. Piper Sandler cut their price target on Campbell Soup from $47.00 to $46.00 and set a “neutral” rating for the company in a report on Friday, September 2nd. Deutsche Bank Aktiengesellschaft increased their price target on Campbell Soup from $49.00 to $50.00 in a report on Monday, August 22nd. JPMorgan Chase & Co. increased their price target on Campbell Soup from $46.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, August 25th. UBS Group increased their price objective on Campbell Soup to $45.00 in a research report on Monday, August 29th. Finally, StockNews.com lowered Campbell Soup from a “buy” rating to a “hold” rating in a research report on Saturday. Three equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $47.90.

Campbell Soup Company Profile

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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.

Further Reading

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

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