Handelsbanken Fonder AB Purchases 97,369 Shares of Campbell Soup (NYSE:CPB)

Handelsbanken Fonder AB increased its position in shares of Campbell Soup (NYSE:CPB) by 292.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 130,660 shares of the company’s stock after buying an additional 97,369 shares during the period. Handelsbanken Fonder AB’s holdings in Campbell Soup were worth $5,648,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of CPB. Van ECK Associates Corp raised its stake in Campbell Soup by 2,269.3% during the third quarter. Van ECK Associates Corp now owns 3,715,761 shares of the company’s stock worth $152,643,000 after buying an additional 3,558,933 shares during the last quarter. Deutsche Bank AG raised its stake in Campbell Soup by 62.3% during the third quarter. Deutsche Bank AG now owns 1,453,612 shares of the company’s stock worth $59,714,000 after buying an additional 557,948 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Campbell Soup by 19.3% during the third quarter. Bank of New York Mellon Corp now owns 2,157,930 shares of the company’s stock worth $88,648,000 after buying an additional 349,485 shares during the last quarter. Invesco Ltd. raised its stake in Campbell Soup by 6.8% during the third quarter. Invesco Ltd. now owns 5,035,674 shares of the company’s stock worth $206,865,000 after buying an additional 318,983 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in Campbell Soup by 78.6% during the third quarter. Victory Capital Management Inc. now owns 545,542 shares of the company’s stock worth $22,411,000 after buying an additional 240,123 shares during the last quarter. Institutional investors own 52.35% of the company’s stock.

Campbell Soup Trading Down 0.4 %

NYSE:CPB opened at $45.37 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.01 and a quick ratio of 0.43. Campbell Soup has a 1 year low of $37.94 and a 1 year high of $55.14. The company has a market cap of $13.52 billion, a P/E ratio of 17.72, a P/E/G ratio of 2.94 and a beta of 0.24. The stock’s fifty day moving average price is $43.18 and its two-hundred day moving average price is $42.51.

Campbell Soup (NYSE:CPB) last released its quarterly earnings results on Wednesday, March 6th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. Campbell Soup had a return on equity of 23.18% and a net margin of 8.26%. The business had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter last year, the business posted $0.80 earnings per share. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, analysts expect that Campbell Soup will post 3.05 EPS for the current year.

Campbell Soup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 29th. Investors of record on Thursday, April 4th will be paid a $0.37 dividend. The ex-dividend date is Wednesday, April 3rd. This represents a $1.48 annualized dividend and a dividend yield of 3.26%. Campbell Soup’s payout ratio is presently 57.81%.

Analyst Ratings Changes

Several equities research analysts have weighed in on CPB shares. DA Davidson started coverage on shares of Campbell Soup in a research note on Friday, March 1st. They issued a “buy” rating and a $48.00 price target for the company. 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, March 14th. TheStreet raised shares of Campbell Soup from a “c+” rating to a “b-” rating in a research note on Wednesday, January 3rd. Piper Sandler reaffirmed a “neutral” rating and issued a $47.00 price target on shares of Campbell Soup in a research note on Tuesday, March 26th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Campbell Soup from $47.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, March 1st. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $46.38.

Campbell Soup Profile

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.