New York State Common Retirement Fund Lowers Stake in Campbell Soup (NYSE:CPB)

New York State Common Retirement Fund reduced its position in shares of Campbell Soup (NYSE:CPBFree Report) by 17.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 159,572 shares of the company’s stock after selling 34,772 shares during the quarter. New York State Common Retirement Fund owned 0.05% of Campbell Soup worth $6,555,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Parkside Financial Bank & Trust boosted its stake in shares of Campbell Soup by 149.8% during the 1st quarter. Parkside Financial Bank & Trust now owns 597 shares of the company’s stock worth $27,000 after acquiring an additional 358 shares in the last quarter. ING Groep NV purchased a new stake in shares of Campbell Soup during the 3rd quarter worth about $33,000. Allworth Financial LP lifted its stake in Campbell Soup by 110.0% in the 3rd quarter. Allworth Financial LP now owns 819 shares of the company’s stock valued at $34,000 after buying an additional 429 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in Campbell Soup by 183.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 900 shares of the company’s stock valued at $41,000 after buying an additional 582 shares in the last quarter. Finally, IFP Advisors Inc lifted its stake in Campbell Soup by 176.2% in the 3rd quarter. IFP Advisors Inc now owns 1,019 shares of the company’s stock valued at $42,000 after buying an additional 650 shares in the last quarter. 50.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Campbell Soup

In related news, EVP Anthony Sanzio sold 3,000 shares of the business’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $44.31, for a total value of $132,930.00. Following the completion of the sale, the executive vice president now directly owns 14,238 shares of the company’s stock, valued at $630,885.78. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 20.64% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CPB shares. Wells Fargo & Company started coverage on shares of Campbell Soup in a research note on Tuesday, December 12th. They issued an “equal weight” rating and a $47.00 price target on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $47.00 price target on shares of Campbell Soup in a research note on Thursday, December 7th. TheStreet raised shares of Campbell Soup from a “c+” rating to a “b-” rating in a research note on Wednesday, January 3rd. Citigroup initiated coverage on shares of Campbell Soup in a research note on Thursday, February 1st. They issued a “sell” rating and a $41.00 target price on the stock. Finally, Piper Sandler raised their target price on shares of Campbell Soup from $44.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, December 7th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $46.75.

View Our Latest Stock Report on CPB

Campbell Soup Price Performance

Campbell Soup stock opened at $41.99 on Friday. The stock has a market cap of $12.58 billion, a P/E ratio of 15.85, a price-to-earnings-growth ratio of 3.64 and a beta of 0.26. The company has a fifty day simple moving average of $43.62 and a 200-day simple moving average of $42.34. Campbell Soup has a 12-month low of $37.94 and a 12-month high of $56.04. The company has a current ratio of 0.97, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20.

Campbell Soup (NYSE:CPBGet Free Report) last released its quarterly earnings data on Wednesday, December 6th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.52 billion. Campbell Soup had a net margin of 8.55% and a return on equity of 23.71%. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.02 EPS. Equities analysts expect that Campbell Soup will post 3.08 EPS for the current fiscal year.

Campbell Soup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 29th. Investors of record on Thursday, January 4th were given a $0.37 dividend. The ex-dividend date of this dividend was Wednesday, January 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 3.52%. Campbell Soup’s dividend payout ratio (DPR) is presently 55.85%.

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.

Further Reading

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

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