Campbell Soup (NASDAQ:CPB) Shares Sold by Truist Financial Corp

Truist Financial Corp reduced its holdings in Campbell Soup (NASDAQ:CPB) by 21.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,407 shares of the company’s stock after selling 4,215 shares during the quarter. Truist Financial Corp’s holdings in Campbell Soup were worth $696,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Van ECK Associates Corp grew its position in Campbell Soup by 1.9% during the second quarter. Van ECK Associates Corp now owns 8,709,949 shares of the company’s stock valued at $393,603,000 after acquiring an additional 161,392 shares during the period. Dimensional Fund Advisors LP grew its position in Campbell Soup by 14.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,876,253 shares of the company’s stock valued at $129,971,000 after acquiring an additional 363,736 shares during the period. LSV Asset Management grew its position in 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 during the period. Nordea Investment Management AB grew its position in Campbell Soup by 7.3% during the first quarter. Nordea Investment Management AB now owns 1,246,867 shares of the company’s stock valued at $55,554,000 after acquiring an additional 85,099 shares during the period. Finally, Armistice Capital LLC grew its position in Campbell Soup by 94.0% during 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 period. 52.35% of the stock is currently owned by institutional investors and hedge funds.

Campbell Soup Trading Up 0.5 %

Shares of NASDAQ CPB opened at $48.36 on Wednesday. The stock’s 50 day moving average price is $49.62 and its two-hundred day moving average price is $46.68. Campbell Soup has a 52-week low of $39.48 and a 52-week high of $52.81. The stock has a market capitalization of $14.44 billion, a P/E ratio of 19.81, a PEG ratio of 2.83 and a beta of 0.18. 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 (NASDAQ:CPB) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Campbell Soup had a return on equity of 24.08% and a net margin of 5.88%. The business’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.50 EPS. On average, analysts anticipate that Campbell Soup will post 3.2 earnings per share for the current fiscal year.

Campbell Soup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Thursday, October 3rd will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date is Thursday, October 3rd. Campbell Soup’s payout ratio is 59.92%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CPB shares. Wells Fargo & Company upped their target price on Campbell Soup from $49.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 11th. Sanford C. Bernstein raised Campbell Soup from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $55.00 to $58.00 in a research report on Monday, October 7th. Royal Bank of Canada upped 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. TD Cowen increased their price target on Campbell Soup from $47.00 to $51.00 and gave the company a “hold” rating in a report on Thursday, September 12th. Finally, JPMorgan Chase & Co. increased their price target on Campbell Soup from $55.00 to $57.00 and gave the company an “overweight” rating in a report on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Campbell Soup has an average rating of “Hold” and an average target price of $50.83.

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.