Principal Financial Group Inc. Grows Position in Campbell Soup (NASDAQ:CPB)

Principal Financial Group Inc. grew its stake in Campbell Soup (NASDAQ:CPB) by 6.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 278,607 shares of the company’s stock after buying an additional 17,663 shares during the period. Principal Financial Group Inc. owned 0.09% of Campbell Soup worth $13,629,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. M&G Plc purchased a new position in Campbell Soup in the 2nd quarter worth $469,000. Swedbank AB purchased a new position in shares of Campbell Soup in the first quarter worth about $11,405,000. Dimensional Fund Advisors LP lifted its holdings in shares of Campbell Soup by 14.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,876,253 shares of the company’s stock worth $129,971,000 after purchasing an additional 363,736 shares during the period. MN Wealth Advisors LLC purchased a new stake in Campbell Soup in the third quarter valued at approximately $940,000. Finally, Edgestream Partners L.P. purchased a new stake in Campbell Soup in the first quarter valued at approximately $1,239,000. 52.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on CPB. DA Davidson cut shares of Campbell Soup from a “buy” rating to a “neutral” rating and set a $51.00 price objective for the company. in a research note on Friday, September 27th. JPMorgan Chase & Co. upped their price target on shares of Campbell Soup from $55.00 to $57.00 and gave the company an “overweight” rating in a report on Wednesday, September 11th. Piper Sandler raised Campbell Soup from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $47.00 to $56.00 in a research report on Thursday. Barclays boosted their price objective on Campbell Soup from $45.00 to $49.00 and gave the company an “underweight” rating in a report on Thursday, September 12th. Finally, TD Cowen raised their target price on Campbell Soup from $47.00 to $51.00 and gave the stock a “hold” rating in a report on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $51.58.

Campbell Soup Trading Down 2.9 %

Shares of CPB stock opened at $43.15 on Friday. Campbell Soup has a 1-year low of $39.65 and a 1-year high of $52.81. The company has a market cap of $12.84 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 2.64 and a beta of 0.19. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.61 and a quick ratio of 0.22. The stock has a 50 day simple moving average of $47.95 and a 200-day simple moving average of $47.05.

Campbell Soup (NASDAQ:CPB) last posted its quarterly earnings data 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. 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 analysts’ expectations of $2.31 billion. During the same period in the prior year, the business posted $0.50 earnings per share. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. On average, equities research analysts expect that Campbell Soup will post 3.2 EPS for the current fiscal year.

Campbell Soup Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Thursday, October 3rd were issued a $0.37 dividend. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 3.43%. Campbell Soup’s payout ratio is currently 78.31%.

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.