CIBC Asset Management Inc Acquires 2,277 Shares of Campbell Soup (NASDAQ:CPB)

CIBC Asset Management Inc increased its holdings in Campbell Soup (NASDAQ:CPB) by 6.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 36,487 shares of the company’s stock after purchasing an additional 2,277 shares during the period. CIBC Asset Management Inc’s holdings in Campbell Soup were worth $1,785,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CPB. LSV Asset Management lifted its holdings in Campbell Soup by 5,022.5% during the 2nd quarter. LSV Asset Management now owns 2,438,300 shares of the company’s stock worth $110,187,000 after buying an additional 2,390,700 shares during the period. Wulff Hansen & CO. lifted its stake in shares of Campbell Soup by 4,419.0% in the second quarter. Wulff Hansen & CO. now owns 732,530 shares of the company’s stock worth $33,103,000 after acquiring an additional 716,320 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Campbell Soup by 88.2% in the third quarter. Victory Capital Management Inc. now owns 1,192,610 shares of the company’s stock worth $58,342,000 after acquiring an additional 558,944 shares during the period. Armistice Capital LLC boosted its holdings in Campbell Soup by 94.0% in the second quarter. Armistice Capital LLC now owns 1,067,914 shares of the company’s stock valued at $48,259,000 after acquiring an additional 517,550 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Campbell Soup by 14.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,876,253 shares of the company’s stock valued at $129,971,000 after purchasing an additional 363,736 shares during the period. 52.35% of the stock is currently owned by institutional investors and hedge funds.

Campbell Soup Trading Up 0.0 %

Shares of Campbell Soup stock opened at $43.53 on Wednesday. The company has a market capitalization of $12.96 billion, a P/E ratio of 23.03, a price-to-earnings-growth ratio of 2.57 and a beta of 0.19. The stock has a fifty day simple moving average of $47.63 and a 200 day simple moving average of $47.04. Campbell Soup has a 12-month low of $39.65 and a 12-month high of $52.81. The company has a current ratio of 0.61, a quick ratio of 0.22 and a debt-to-equity ratio of 1.52.

Campbell Soup (NASDAQ:CPB) last posted 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. Campbell Soup had a net margin of 5.88% and a return on equity of 24.08%. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the prior year, the business posted $0.50 EPS. The business’s revenue was up 10.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Campbell Soup will post 3.2 earnings per share for the current fiscal year.

Campbell Soup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Thursday, October 3rd were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.48 annualized dividend and a dividend yield of 3.40%. Campbell Soup’s dividend payout ratio is currently 78.31%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CPB. DA Davidson downgraded shares of 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. Piper Sandler upgraded shares of Campbell Soup from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $47.00 to $56.00 in a report on Thursday, November 14th. Stifel Nicolaus reiterated a “hold” rating and set a $45.00 price target on shares of Campbell Soup in a report on Tuesday, August 27th. Barclays boosted their price objective on Campbell Soup from $45.00 to $49.00 and gave the company an “underweight” rating in a research note on Thursday, September 12th. Finally, Wells Fargo & Company raised their target price on Campbell Soup from $49.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.