Retirement Systems of Alabama Reduces Holdings in Campbell Soup (NASDAQ:CPB)

Retirement Systems of Alabama reduced its stake in shares of Campbell Soup (NASDAQ:CPB) by 2.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,476 shares of the company’s stock after selling 925 shares during the period. Retirement Systems of Alabama’s holdings in Campbell Soup were worth $2,078,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. nVerses Capital LLC purchased a new stake in shares of Campbell Soup in the third quarter valued at $34,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Campbell Soup in the 2nd quarter valued at about $32,000. Ashton Thomas Securities LLC purchased a new position in Campbell Soup in the 3rd quarter valued at about $39,000. Rothschild Investment LLC purchased a new position in Campbell Soup in the 2nd quarter valued at about $44,000. Finally, Sentry Investment Management LLC purchased a new stake in shares of Campbell Soup during the second quarter worth about $44,000. Hedge funds and other institutional investors own 52.35% of the company’s stock.

Wall Street Analysts Forecast Growth

CPB has been the topic of a number of analyst reports. Citigroup decreased their target price on shares of Campbell Soup from $44.00 to $41.00 and set a “sell” rating on the stock in a research report on Thursday, December 5th. Piper Sandler raised Campbell Soup from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $47.00 to $56.00 in a research note on Thursday, November 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $51.00 price objective on shares of Campbell Soup in a research note on Monday, December 2nd. TD Cowen raised their target price on shares of Campbell Soup from $47.00 to $51.00 and gave the stock a “hold” rating in a research report on Thursday, September 12th. Finally, Stifel Nicolaus cut their price target on shares of Campbell Soup from $50.00 to $47.00 and set a “hold” rating on the stock in a research note on Thursday, December 5th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $50.92.

Campbell Soup Stock Down 0.2 %

Shares of Campbell Soup stock opened at $41.50 on Friday. The company has a fifty day moving average price of $45.20 and a 200 day moving average price of $46.79. The company has a current ratio of 0.91, a quick ratio of 0.50 and a debt-to-equity ratio of 1.74. Campbell Soup has a twelve month low of $40.26 and a twelve month high of $52.81. The stock has a market cap of $12.37 billion, a price-to-earnings ratio of 22.68, a price-to-earnings-growth ratio of 2.96 and a beta of 0.18.

Campbell Soup Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Thursday, January 2nd will be paid a $0.39 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.76%. This is a positive change from Campbell Soup’s previous quarterly dividend of $0.37. Campbell Soup’s dividend payout ratio (DPR) is 85.25%.

About Campbell Soup

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.