Goldman Sachs Group Inc. Lowers Holdings in Campbell Soup (NYSE:CPB)

Goldman Sachs Group Inc. reduced its stake in Campbell Soup (NYSE:CPB) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,369,844 shares of the company’s stock after selling 17,208 shares during the period. Goldman Sachs Group Inc. owned approximately 0.46% of Campbell Soup worth $59,218,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Stifel Financial Corp boosted its stake in Campbell Soup by 0.4% in the 3rd quarter. Stifel Financial Corp now owns 63,321 shares of the company’s stock worth $2,601,000 after purchasing an additional 261 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund lifted its stake in shares of Campbell Soup by 4.3% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 6,998 shares of the company’s stock worth $303,000 after buying an additional 286 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Campbell Soup by 0.7% during the fourth quarter. Arizona State Retirement System now owns 53,226 shares of the company’s stock valued at $2,301,000 after buying an additional 364 shares during the last quarter. Coldstream Capital Management Inc. increased its position in shares of Campbell Soup by 6.6% during the fourth quarter. Coldstream Capital Management Inc. now owns 6,196 shares of the company’s stock valued at $268,000 after acquiring an additional 384 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its holdings in Campbell Soup by 165.7% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the company’s stock worth $28,000 after acquiring an additional 406 shares during the last quarter. 52.35% of the stock is owned by hedge funds and other institutional investors.

Campbell Soup Stock Up 0.1 %

CPB stock opened at $44.97 on Wednesday. The business’s 50-day moving average price is $44.63 and its 200-day moving average price is $43.77. The stock has a market cap of $13.43 billion, a P/E ratio of 18.21, a PEG ratio of 2.80 and a beta of 0.19. The company has a quick ratio of 0.24, a current ratio of 0.62 and a debt-to-equity ratio of 1.47. Campbell Soup has a twelve month low of $37.94 and a twelve month high of $46.97.

Campbell Soup (NYSE:CPB) last issued its quarterly earnings results on Wednesday, June 5th. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.05. The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.34 billion. Campbell Soup had a net margin of 7.85% and a return on equity of 23.26%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.68 earnings per share. On average, equities research analysts forecast that Campbell Soup will post 3.08 EPS for the current year.

Campbell Soup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Wednesday, July 3rd will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 3.29%. Campbell Soup’s dividend payout ratio is presently 59.92%.

Analyst Ratings Changes

Several brokerages have commented on CPB. Piper Sandler reiterated a “neutral” rating and set a $47.00 target price on shares of Campbell Soup in a research note on Tuesday, March 26th. Sanford C. Bernstein raised Campbell Soup from an “underperform” rating to a “market perform” rating and boosted their target price for the stock from $42.00 to $46.00 in a research report on Wednesday, May 15th. Evercore ISI initiated coverage on shares of Campbell Soup in a report on Wednesday, March 13th. They set an “in-line” rating and a $49.00 price target on the stock. DA Davidson boosted their price objective on shares of Campbell Soup from $47.00 to $49.00 and gave the company a “buy” rating in a report on Monday, June 10th. Finally, Citigroup increased their price objective on shares of Campbell Soup from $41.00 to $42.00 and gave the company a “sell” rating in a research report on Thursday, May 23rd. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Campbell Soup presently has an average rating of “Hold” and an average price target of $46.31.

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.