Sumitomo Mitsui Trust Group Inc. Grows Stock Position in Campbell Soup (NASDAQ:CPB)

Sumitomo Mitsui Trust Group Inc. grew its position in shares of Campbell Soup (NASDAQ:CPB) by 2.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 550,486 shares of the company’s stock after purchasing an additional 11,406 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Campbell Soup were worth $26,930,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CPB. LSV Asset Management boosted its holdings in Campbell Soup by 5,022.5% in the second quarter. LSV Asset Management now owns 2,438,300 shares of the company’s stock valued at $110,187,000 after purchasing an additional 2,390,700 shares during the last quarter. Wulff Hansen & CO. boosted its stake in shares of Campbell Soup by 4,419.0% during the 2nd quarter. Wulff Hansen & CO. now owns 732,530 shares of the company’s stock valued at $33,103,000 after buying an additional 716,320 shares during the last quarter. Armistice Capital LLC grew its position in shares of Campbell Soup by 94.0% during the second quarter. Armistice Capital LLC now owns 1,067,914 shares of the company’s stock worth $48,259,000 after buying an additional 517,550 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Campbell Soup by 14.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,876,253 shares of the company’s stock worth $129,971,000 after buying an additional 363,736 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Campbell Soup by 262.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 417,596 shares of the company’s stock valued at $18,871,000 after acquiring an additional 302,371 shares in the last quarter. 52.35% of the stock is owned by institutional investors and hedge funds.

Campbell Soup Price Performance

Shares of CPB opened at $43.15 on Friday. Campbell Soup has a 12 month low of $39.65 and a 12 month high of $52.81. 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 fifty day moving average price of $47.95 and a 200 day moving average price of $47.05. The company has a market cap of $12.84 billion, a P/E ratio of 22.83, a PEG ratio of 2.64 and a beta of 0.19.

Campbell Soup (NASDAQ:CPB) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.62 by $0.01. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. Campbell Soup had a net margin of 5.88% and a return on equity of 24.08%. The company’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.50 earnings per share. On average, research analysts forecast that Campbell Soup will post 3.2 earnings per share for the current year.

Campbell Soup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Thursday, October 3rd were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.48 annualized dividend and a dividend yield of 3.43%. Campbell Soup’s dividend payout ratio is presently 78.31%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CPB. Piper Sandler raised shares of Campbell Soup from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $47.00 to $56.00 in a report on Thursday. Wells Fargo & Company lifted their price target on Campbell Soup from $49.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 11th. TD Cowen upped their price objective on Campbell Soup from $47.00 to $51.00 and gave the company a “hold” rating in a research note on Thursday, September 12th. Royal Bank of Canada lifted their target price on Campbell Soup from $47.00 to $51.00 and gave the stock a “sector perform” rating in a research report on Friday, September 13th. Finally, DA Davidson lowered Campbell Soup from a “buy” rating to a “neutral” rating and set a $51.00 price target on the stock. in a research report on Friday, September 27th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Campbell Soup presently has a consensus rating of “Hold” and a consensus price target of $51.58.

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.