Campbell Soup (NASDAQ:CPB) Stock Position Lowered by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its position in Campbell Soup (NASDAQ:CPB) by 39.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 417,713 shares of the company’s stock after selling 277,543 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.14% of Campbell Soup worth $20,435,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. nVerses Capital LLC purchased a new stake in shares of Campbell Soup in the 3rd quarter valued at approximately $34,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Campbell Soup in the 2nd quarter worth approximately $32,000. Larson Financial Group LLC lifted its position in Campbell Soup by 3,760.9% in the 1st quarter. Larson Financial Group LLC now owns 888 shares of the company’s stock worth $39,000 after buying an additional 865 shares in the last quarter. TruNorth Capital Management LLC purchased a new stake in Campbell Soup in the 2nd quarter worth approximately $44,000. Finally, Rothschild Investment LLC purchased a new stake in Campbell Soup in the 2nd quarter worth approximately $44,000. Hedge funds and other institutional investors own 52.35% of the company’s stock.

Campbell Soup Stock Performance

Shares of CPB opened at $46.99 on Friday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.22 and a current ratio of 0.61. Campbell Soup has a twelve month low of $39.63 and a twelve month high of $52.81. The firm’s 50 day moving average price is $49.44 and its two-hundred day moving average price is $46.86. The firm has a market cap of $14.03 billion, a P/E ratio of 19.02, a PEG ratio of 2.83 and a beta of 0.18.

Campbell Soup (NASDAQ:CPB) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.63 EPS 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 analyst estimates of $2.31 billion. Campbell Soup had a net margin of 5.88% and a return on equity of 24.08%. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.50 earnings per share. On average, analysts forecast that Campbell Soup will post 3.2 EPS for the current fiscal year.

Campbell Soup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Thursday, October 3rd will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend is Thursday, October 3rd. Campbell Soup’s dividend payout ratio (DPR) is currently 59.92%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CPB shares. Argus upgraded shares of Campbell Soup from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research report on Friday, September 20th. TD Cowen increased their price target on shares of Campbell Soup from $47.00 to $51.00 and gave the stock a “hold” rating in a research note on Thursday, September 12th. JPMorgan Chase & Co. increased their price target on shares of Campbell Soup from $55.00 to $57.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 11th. Barclays increased their price target on shares of Campbell Soup from $45.00 to $49.00 and gave the stock an “underweight” rating in a research note on Thursday, September 12th. Finally, Sanford C. Bernstein upgraded shares of Campbell Soup from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $55.00 to $58.00 in a research note on Monday, October 7th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently 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.