Ensign Peak Advisors Inc Has $7.68 Million Stake in Campbell Soup (NYSE:CPB)

Ensign Peak Advisors Inc increased its position in shares of Campbell Soup (NYSE:CPB) by 3.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 168,394 shares of the company’s stock after buying an additional 4,965 shares during the period. Ensign Peak Advisors Inc owned 0.06% of Campbell Soup worth $7,677,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Toronto Dominion Bank grew its stake in shares of Campbell Soup by 5.5% in the second quarter. Toronto Dominion Bank now owns 154,918 shares of the company’s stock valued at $7,060,000 after acquiring an additional 8,109 shares in the last quarter. AXA S.A. lifted its holdings in shares of Campbell Soup by 1.0% in the second quarter. AXA S.A. now owns 155,848 shares of the company’s stock worth $7,105,000 after acquiring an additional 1,545 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Campbell Soup by 2.8% in the second quarter. Geode Capital Management LLC now owns 3,473,923 shares of the company’s stock worth $157,938,000 after acquiring an additional 93,572 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Campbell Soup by 12.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 10,564 shares of the company’s stock worth $481,000 after acquiring an additional 1,134 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its holdings in Campbell Soup by 65.9% in the 2nd quarter. Public Sector Pension Investment Board now owns 31,823 shares of the company’s stock valued at $1,451,000 after buying an additional 12,640 shares during the last quarter. Institutional investors and hedge funds own 52.09% of the company’s stock.

Shares of CPB stock opened at $41.51 on Thursday. Campbell Soup has a twelve month low of $40.05 and a twelve month high of $53.77. The stock has a market cap of $12.52 billion, a price-to-earnings ratio of 12.62 and a beta of 0.58. The business’s fifty day moving average is $42.51 and its 200 day moving average is $45.67. The company has a quick ratio of 0.51, a current ratio of 0.93 and a debt-to-equity ratio of 1.59.

Campbell Soup (NYSE:CPB) last announced its quarterly earnings results on Tuesday, August 31st. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.08. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.81 billion. Campbell Soup had a return on equity of 30.73% and a net margin of 11.82%. The company’s quarterly revenue was down 11.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.63 earnings per share. Equities research analysts expect that Campbell Soup will post 2.77 earnings per share for the current fiscal year.

Campbell Soup announced that its board has initiated a stock repurchase program on Wednesday, September 1st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire up to 3.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 1st. Shareholders of record on Thursday, October 7th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date is Wednesday, October 6th. Campbell Soup’s payout ratio is 49.66%.

CPB has been the subject of a number of recent analyst reports. Royal Bank of Canada decreased their target price on shares of Campbell Soup from $59.00 to $54.00 and set an “outperform” rating for the company in a research report on Thursday, September 2nd. Deutsche Bank Aktiengesellschaft cut their target price on Campbell Soup from $50.00 to $48.00 and set a “hold” rating on the stock in a report on Thursday, September 2nd. Credit Suisse Group cut their target price on Campbell Soup from $46.00 to $41.00 and set a “neutral” rating on the stock in a report on Friday, August 27th. Piper Sandler cut Campbell Soup from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $51.00 to $43.00 in a research note on Tuesday, August 24th. Finally, Jefferies Financial Group initiated coverage on Campbell Soup in a research note on Wednesday, September 1st. They set a “hold” rating and a $45.00 price objective on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $46.64.

Campbell Soup Company Profile

Campbell Soup Co engages in manufacture and marketing of convenience food products such as soup, simple meals, snacks, and healthy beverages. It operates through the following segments: Meals and Beverages, and Snacks. The Meals and Beverages segment includes the retail and food service businesses in the U.S., Canada and Latin America.

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Institutional Ownership by Quarter for Campbell Soup (NYSE:CPB)

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