DoubleLine ETF Adviser LP Sells 598 Shares of Campbell Soup (NASDAQ:CPB)

DoubleLine ETF Adviser LP trimmed its stake in Campbell Soup (NASDAQ:CPB) by 6.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,500 shares of the company’s stock after selling 598 shares during the quarter. DoubleLine ETF Adviser LP’s holdings in Campbell Soup were worth $384,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of CPB. LSV Asset Management increased its position in shares of Campbell Soup by 5,022.5% during the second quarter. LSV Asset Management now owns 2,438,300 shares of the company’s stock valued at $110,187,000 after acquiring an additional 2,390,700 shares in the last quarter. Van ECK Associates Corp boosted its stake in Campbell Soup by 16.6% during the 1st quarter. Van ECK Associates Corp now owns 8,548,557 shares of the company’s stock valued at $379,983,000 after purchasing an additional 1,219,301 shares during the last quarter. Wulff Hansen & CO. increased its holdings in shares of Campbell Soup by 4,419.0% in the 2nd quarter. Wulff Hansen & CO. now owns 732,530 shares of the company’s stock worth $33,103,000 after purchasing an additional 716,320 shares in the last quarter. AMF Tjanstepension AB purchased a new position in shares of Campbell Soup in the first quarter worth $30,128,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Campbell Soup by 21.2% during the first quarter. Bank of New York Mellon Corp now owns 3,315,516 shares of the company’s stock valued at $147,375,000 after purchasing an additional 580,411 shares in the last quarter. 52.35% of the stock is owned by hedge funds and other institutional investors.

Campbell Soup Stock Performance

Shares of CPB opened at $49.42 on Friday. The business has a 50-day simple moving average of $49.42 and a two-hundred day simple moving average of $46.25. The company has a quick ratio of 0.22, a current ratio of 0.61 and a debt-to-equity ratio of 1.52. Campbell Soup has a 52 week low of $37.94 and a 52 week high of $52.81. The stock has a market cap of $14.75 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 3.02 and a beta of 0.18.

Campbell Soup (NASDAQ:CPB) last released 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 company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period in the prior year, the firm posted $0.50 EPS. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. On average, analysts expect that Campbell Soup will post 3.18 EPS for the current year.

Campbell Soup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Thursday, October 3rd will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Thursday, October 3rd. Campbell Soup’s dividend payout ratio (DPR) is 59.92%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CPB shares. Wells Fargo & Company lifted their price objective on Campbell Soup from $49.00 to $51.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 11th. Barclays boosted their price objective on shares of Campbell Soup from $45.00 to $49.00 and gave the company an “underweight” rating in a report on Thursday, September 12th. Royal Bank of Canada raised their target price on shares of Campbell Soup from $47.00 to $51.00 and gave the stock a “sector perform” rating in a report on Friday, September 13th. Stifel Nicolaus reiterated a “hold” rating and set a $45.00 target price on shares of Campbell Soup in a research note on Tuesday, August 27th. Finally, TD Cowen raised their price target on Campbell Soup from $47.00 to $51.00 and gave the stock a “hold” rating in a research note on Thursday, September 12th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Campbell Soup presently has a consensus rating of “Hold” and an average target price of $49.69.

About Campbell Soup

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.