UBS Group AG grew its position in Campbell Soup (NYSE:CPB) by 119.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,030,876 shares of the company’s stock after purchasing an additional 561,916 shares during the period. UBS Group AG owned approximately 0.34% of Campbell Soup worth $51,822,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ellevest Inc. lifted its position in Campbell Soup by 101.5% during the 1st quarter. Ellevest Inc. now owns 530 shares of the company’s stock worth $27,000 after acquiring an additional 267 shares in the last quarter. IFP Advisors Inc lifted its position in Campbell Soup by 1,000.0% during the 1st quarter. IFP Advisors Inc now owns 506 shares of the company’s stock worth $27,000 after acquiring an additional 460 shares in the last quarter. Wealthcare Advisory Partners LLC acquired a new position in Campbell Soup during the 1st quarter worth approximately $43,000. Oakworth Capital Inc. acquired a new position in Campbell Soup during the 1st quarter worth approximately $50,000. Finally, Meeder Asset Management Inc. lifted its position in Campbell Soup by 26.7% during the 1st quarter. Meeder Asset Management Inc. now owns 1,057 shares of the company’s stock worth $53,000 after acquiring an additional 223 shares in the last quarter. 52.92% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently commented on CPB. Piper Sandler reduced their price target on Campbell Soup from $57.00 to $51.00 and set an “overweight” rating on the stock in a research report on Thursday. Jefferies Financial Group downgraded Campbell Soup from a “buy” rating to a “hold” rating and set a $54.00 price objective on the stock. in a report on Monday, May 24th. Morgan Stanley lowered their price target on Campbell Soup from $50.00 to $48.00 and set an “equal weight” rating for the company in a report on Thursday. Deutsche Bank Aktiengesellschaft lowered their price target on Campbell Soup from $52.00 to $50.00 and set a “hold” rating for the company in a report on Thursday, February 25th. Finally, Credit Suisse Group lowered their price target on Campbell Soup from $47.00 to $46.00 and set a “neutral” rating for the company in a report on Thursday. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $49.70.
Shares of CPB stock opened at $45.72 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.71. Campbell Soup has a 1 year low of $44.53 and a 1 year high of $54.08. The stock’s fifty day simple moving average is $48.88. The firm has a market cap of $13.85 billion, a price-to-earnings ratio of 17.25, a PEG ratio of 5.90 and a beta of 0.58.
Campbell Soup (NYSE:CPB) last announced its quarterly earnings results on Tuesday, June 8th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.09). Campbell Soup had a return on equity of 37.35% and a net margin of 9.01%. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter last year, the firm posted $0.83 EPS. The company’s revenue was down 11.3% compared to the same quarter last year. As a group, analysts predict that Campbell Soup will post 3.07 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 2nd. Investors of record on Wednesday, July 14th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.24%. The ex-dividend date is Tuesday, July 13th. Campbell Soup’s payout ratio is 50.17%.
About Campbell Soup
Campbell Soup Company, together with its subsidiaries, engages in the manufacture and market food and beverage products. It operates through Meals & Beverages and Snacks segments. The Meals & Beverages segment engages in the retail and foodservice businesses in the United States and Canada. This segment provides Campbell's condensed and ready-to-serve soups; Swanson broth and stocks; Pacific Foods broth, soups, and non-dairy beverages; Prego pasta sauces; Pace Mexican sauces; Campbell's gravies, pasta, beans, and dinner sauces; Swanson canned poultry; Plum baby food and snacks; V8 juices and beverages; V8 juices and beverages; and Campbell's tomato juice.
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