Gabelli Funds LLC Has $30.62 Million Holdings in Campbell Soup (NYSE:CPB)

Gabelli Funds LLC raised its stake in shares of Campbell Soup (NYSE:CPB) by 31.0% in the first quarter, Holdings Channel.com reports. The firm owned 688,825 shares of the company’s stock after buying an additional 163,175 shares during the period. Gabelli Funds LLC’s holdings in Campbell Soup were worth $30,618,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Gamco Investors INC. ET AL grew its holdings in Campbell Soup by 35.8% during the first quarter. Gamco Investors INC. ET AL now owns 598,380 shares of the company’s stock worth $26,598,000 after buying an additional 157,809 shares in the last quarter. CreativeOne Wealth LLC grew its stake in shares of Campbell Soup by 85.2% in the 1st quarter. CreativeOne Wealth LLC now owns 13,223 shares of the company’s stock worth $588,000 after acquiring an additional 6,083 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of Campbell Soup by 5.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 358,008 shares of the company’s stock valued at $15,930,000 after purchasing an additional 19,365 shares during the last quarter. UniSuper Management Pty Ltd lifted its position in shares of Campbell Soup by 676.5% during the first quarter. UniSuper Management Pty Ltd now owns 23,669 shares of the company’s stock valued at $1,052,000 after purchasing an additional 20,621 shares in the last quarter. Finally, Edgestream Partners L.P. purchased a new position in Campbell Soup during the first quarter worth about $1,239,000. 52.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. StockNews.com lowered shares of Campbell Soup from a “hold” rating to a “sell” rating in a research note on Thursday. Royal Bank of Canada reissued a “sector perform” rating and issued a $47.00 price objective on shares of Campbell Soup in a research report on Friday, June 7th. Sanford C. Bernstein upgraded Campbell Soup from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $42.00 to $46.00 in a research note on Wednesday, May 15th. JPMorgan Chase & Co. upgraded Campbell Soup from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $45.00 to $52.00 in a research note on Wednesday, June 26th. Finally, Citigroup increased their price target on shares of Campbell Soup from $41.00 to $42.00 and gave the company a “sell” rating in a research report on Thursday, May 23rd. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $46.56.

Campbell Soup Price Performance

NYSE:CPB traded up $0.48 during mid-day trading on Friday, hitting $46.75. 2,644,154 shares of the stock traded hands, compared to its average volume of 2,112,084. The business’s 50-day moving average price is $45.05 and its 200 day moving average price is $44.20. The company has a quick ratio of 0.24, a current ratio of 0.62 and a debt-to-equity ratio of 1.47. The company has a market cap of $13.96 billion, a PE ratio of 18.93, a price-to-earnings-growth ratio of 2.94 and a beta of 0.16. Campbell Soup has a 12-month low of $37.94 and a 12-month high of $48.63.

Campbell Soup (NYSE:CPB) last released its quarterly earnings results on Wednesday, June 5th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.05. The firm had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.34 billion. Campbell Soup had a net margin of 7.85% and a return on equity of 23.26%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.68 earnings per share. On average, analysts expect that Campbell Soup will post 3.08 EPS for the current fiscal year.

Campbell Soup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 29th. Stockholders of record on Wednesday, July 3rd will be given a dividend of $0.37 per share. The ex-dividend date is Wednesday, July 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.17%. Campbell Soup’s dividend payout ratio (DPR) is presently 59.92%.

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.