Principal Financial Group Inc. cut its holdings in Campbell Soup (NYSE:CPB) by 6.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 277,014 shares of the company’s stock after selling 18,299 shares during the quarter. Principal Financial Group Inc.’s holdings in Campbell Soup were worth $13,926,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of CPB. American International Group Inc. lifted its stake in Campbell Soup by 1,077.1% in the fourth quarter. American International Group Inc. now owns 3,359,928 shares of the company’s stock valued at $162,453,000 after buying an additional 3,074,482 shares during the period. Norges Bank acquired a new stake in Campbell Soup in the 4th quarter valued at $73,610,000. DekaBank Deutsche Girozentrale increased its stake in Campbell Soup by 298.0% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 1,154,190 shares of the company’s stock valued at $55,594,000 after purchasing an additional 864,162 shares in the last quarter. BlackRock Inc. raised its holdings in Campbell Soup by 3.5% during the first quarter. BlackRock Inc. now owns 16,494,993 shares of the company’s stock worth $829,203,000 after buying an additional 563,048 shares during the last quarter. Finally, Beutel Goodman & Co Ltd. lifted its stake in shares of Campbell Soup by 16.3% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 3,347,677 shares of the company’s stock valued at $161,860,000 after buying an additional 468,711 shares in the last quarter. 52.92% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Craig Slavtcheff sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 17th. The stock was sold at an average price of $48.88, for a total value of $342,160.00. Following the transaction, the executive vice president now owns 36,810 shares in the company, valued at $1,799,272.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 35.64% of the company’s stock.
Campbell Soup (NYSE:CPB) last posted its quarterly earnings results on Tuesday, June 8th. The company reported $0.57 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.09). The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $2.01 billion. Campbell Soup had a net margin of 9.01% and a return on equity of 37.35%. Campbell Soup’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 EPS. As a group, equities analysts forecast that Campbell Soup will post 3.07 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 2nd. Stockholders of record on Wednesday, July 14th will be paid a dividend of $0.37 per share. The ex-dividend date is Tuesday, July 13th. This represents a $1.48 annualized dividend and a dividend yield of 3.24%. Campbell Soup’s payout ratio is currently 50.17%.
A number of equities research analysts recently weighed in on the stock. Morgan Stanley lowered their target price on shares of Campbell Soup from $50.00 to $48.00 and set an “equal weight” rating on the stock in a report on Thursday. Deutsche Bank Aktiengesellschaft lowered their price objective on Campbell Soup from $52.00 to $50.00 and set a “hold” rating for the company in a research note on Thursday, February 25th. Jefferies Financial Group cut Campbell Soup from a “buy” rating to a “hold” rating and set a $54.00 target price on the stock. in a research report on Monday, May 24th. Credit Suisse Group lowered their price target on Campbell Soup from $47.00 to $46.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Piper Sandler cut their price objective on shares of Campbell Soup from $57.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $49.70.
Campbell Soup Profile
Campbell Soup Company, together with its subsidiaries, engages in the manufacture and market food and beverage products. It operates through Meals & Beverages and Snacks segments. The Meals & Beverages segment engages in the retail and foodservice businesses in the United States and Canada. This segment provides Campbell's condensed and ready-to-serve soups; Swanson broth and stocks; Pacific Foods broth, soups, and non-dairy beverages; Prego pasta sauces; Pace Mexican sauces; Campbell's gravies, pasta, beans, and dinner sauces; Swanson canned poultry; Plum baby food and snacks; V8 juices and beverages; V8 juices and beverages; and Campbell's tomato juice.
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