Louisiana State Employees Retirement System Buys Shares of 11,900 Campbell Soup (NYSE:CPB)

Louisiana State Employees Retirement System purchased a new position in shares of Campbell Soup (NYSE:CPB) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 11,900 shares of the company’s stock, valued at approximately $514,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Invesco Ltd. grew its stake in Campbell Soup by 6.8% in the third quarter. Invesco Ltd. now owns 5,035,674 shares of the company’s stock valued at $206,865,000 after purchasing an additional 318,983 shares in the last quarter. Van ECK Associates Corp increased its holdings 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. Northern Trust Corp increased its holdings in Campbell Soup by 4.7% during the third quarter. Northern Trust Corp now owns 2,845,931 shares of the company’s stock worth $116,911,000 after buying an additional 127,574 shares during the last quarter. Bank of New York Mellon Corp raised its position 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 acquiring an additional 349,485 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Campbell Soup by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,639,006 shares of the company’s stock valued at $67,330,000 after acquiring an additional 14,555 shares during the last quarter. 52.35% of the stock is currently owned by institutional investors and hedge funds.

Campbell Soup Stock Performance

Shares of NYSE:CPB opened at $44.93 on Tuesday. Campbell Soup has a 12-month low of $37.94 and a 12-month high of $55.04. The company’s 50 day moving average price is $43.40 and its two-hundred day moving average price is $42.65. The firm has a market cap of $13.39 billion, a PE ratio of 17.55, a PEG ratio of 2.93 and a beta of 0.24. The company has a quick ratio of 0.43, a current ratio of 1.01 and a debt-to-equity ratio of 1.17.

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

Campbell Soup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 29th. Investors of record on Thursday, April 4th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend was Wednesday, April 3rd. Campbell Soup’s dividend payout ratio (DPR) is presently 57.81%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CPB shares. DA Davidson started coverage on shares of Campbell Soup in a report on Friday, March 1st. They issued a “buy” rating and a $48.00 target price on the stock. JPMorgan Chase & Co. raised their price objective on Campbell Soup from $47.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Citigroup started coverage on Campbell Soup in a report on Thursday, February 1st. They set a “sell” rating and a $41.00 target price on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $47.00 price target on shares of Campbell Soup in a report on Tuesday, March 26th. Finally, TheStreet upgraded shares of Campbell Soup from a “c+” rating to a “b-” rating in a report on Wednesday, January 3rd. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price 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.