Huntington National Bank Raises Holdings in Campbell Soup (NASDAQ:CPB)

Huntington National Bank boosted its stake in Campbell Soup (NASDAQ:CPB) by 35.3% during the third quarter, Holdings Channel.com reports. The firm owned 2,090 shares of the company’s stock after buying an additional 545 shares during the period. Huntington National Bank’s holdings in Campbell Soup were worth $102,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. nVerses Capital LLC purchased a new stake in shares of Campbell Soup during the third quarter worth about $34,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Campbell Soup in the 2nd quarter worth approximately $32,000. Ashton Thomas Securities LLC bought a new stake in shares of Campbell Soup in the 3rd quarter worth approximately $39,000. TruNorth Capital Management LLC purchased a new position in shares of Campbell Soup during the second quarter valued at approximately $44,000. Finally, Rothschild Investment LLC bought a new position in shares of Campbell Soup during the second quarter valued at approximately $44,000. Institutional investors own 52.35% of the company’s stock.

Campbell Soup Stock Performance

Shares of Campbell Soup stock opened at $43.15 on Monday. Campbell Soup has a 1 year low of $39.65 and a 1 year high of $52.81. The firm’s 50-day moving average is $47.95 and its 200 day moving average is $47.07. The stock has a market cap of $12.84 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 2.57 and a beta of 0.19. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.61 and a quick ratio of 0.22.

Campbell Soup (NASDAQ:CPB) last issued its earnings results on Thursday, August 29th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.01. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. Campbell Soup had a net margin of 5.88% and a return on equity of 24.08%. The business’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.50 earnings per share. Sell-side analysts anticipate that Campbell Soup will post 3.2 EPS for the current fiscal year.

Campbell Soup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Thursday, October 3rd were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.43%. The ex-dividend date was Thursday, October 3rd. Campbell Soup’s dividend payout ratio is currently 78.31%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. TD Cowen boosted their price objective on shares of Campbell Soup from $47.00 to $51.00 and gave the company a “hold” rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. increased their price target on shares of Campbell Soup from $55.00 to $57.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 11th. Wells Fargo & Company lifted their price objective on Campbell Soup from $49.00 to $51.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 11th. Royal Bank of Canada increased their target price on Campbell Soup from $47.00 to $51.00 and gave the stock a “sector perform” rating in a research report on Friday, September 13th. Finally, DA Davidson lowered Campbell Soup from a “buy” rating to a “neutral” rating and set a $51.00 price target on the stock. in a research report on Friday, September 27th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Campbell Soup has a consensus rating of “Hold” and an average price target of $51.58.

Campbell Soup Company 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.