Oppenheimer & Co. Inc. Makes New $213,000 Investment in Campbell Soup (NYSE:CPB)

Oppenheimer & Co. Inc. bought a new stake in Campbell Soup (NYSE:CPBGet Rating) in the 2nd quarter, Holdings Channel.com reports. The firm bought 4,437 shares of the company’s stock, valued at approximately $213,000.

Several other institutional investors and hedge funds have also made changes to their positions in CPB. State Street Corp lifted its holdings in shares of Campbell Soup by 16.8% in the 1st quarter. State Street Corp now owns 12,182,043 shares of the company’s stock valued at $542,954,000 after purchasing an additional 1,749,650 shares during the last quarter. Vanguard Group Inc. raised its stake in Campbell Soup by 6.3% during the 1st quarter. Vanguard Group Inc. now owns 23,259,524 shares of the company’s stock valued at $1,036,678,000 after acquiring an additional 1,387,605 shares during the last quarter. Victory Capital Management Inc. raised its stake in Campbell Soup by 64.4% during the 1st quarter. Victory Capital Management Inc. now owns 925,468 shares of the company’s stock valued at $43,701,000 after acquiring an additional 362,607 shares during the last quarter. abrdn plc raised its stake in Campbell Soup by 305.4% during the 2nd quarter. abrdn plc now owns 378,648 shares of the company’s stock valued at $18,262,000 after acquiring an additional 285,248 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC raised its stake in Campbell Soup by 201.0% during the 1st quarter. Worldquant Millennium Advisors LLC now owns 381,297 shares of the company’s stock valued at $16,994,000 after acquiring an additional 254,619 shares during the last quarter. 51.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on CPB shares. Exane BNP Paribas started coverage on Campbell Soup in a research note on Tuesday, November 15th. They set an “underperform” rating for the company. StockNews.com downgraded Campbell Soup from a “buy” rating to a “hold” rating in a research note on Saturday. Credit Suisse Group upped their price objective on Campbell Soup from $46.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, August 26th. Deutsche Bank Aktiengesellschaft boosted their target price on Campbell Soup from $49.00 to $50.00 in a research report on Monday, August 22nd. Finally, BNP Paribas started coverage on Campbell Soup in a research report on Tuesday, November 15th. They set an “underperform” rating and a $48.00 target price on the stock. Three investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $47.90.

Campbell Soup Stock Performance

CPB opened at $51.56 on Friday. The stock 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 debt-to-equity ratio of 1.20, a current ratio of 0.68 and a quick ratio of 0.25. The stock’s 50 day simple moving average is $49.47 and its 200 day simple moving average is $48.88. Campbell Soup has a 1-year low of $39.85 and a 1-year high of $53.28.

Campbell Soup (NYSE:CPBGet Rating) last released its quarterly earnings results on Thursday, September 1st. The company reported $0.56 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.56. The business had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Campbell Soup had a return on equity of 25.81% and a net margin of 8.84%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.55 EPS. As a group, equities analysts anticipate that Campbell Soup will post 2.9 EPS for the current fiscal year.

Campbell Soup Announces Dividend

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

Insider Buying and Selling at Campbell Soup

In other Campbell Soup news, EVP Anthony Sanzio sold 3,600 shares of the stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $47.35, for a total transaction of $170,460.00. Following the sale, the executive vice president now owns 14,445 shares in the company, valued at approximately $683,970.75. The sale was disclosed in a legal filing with the SEC, which is available through this link. 21.05% of the stock is owned by insiders.

About Campbell Soup

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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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