Citigroup Inc. Sells 55,536 Shares of Campbell Soup (NASDAQ:CPB)

Citigroup Inc. lessened its holdings in shares of Campbell Soup (NASDAQ:CPB) by 15.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 305,873 shares of the company’s stock after selling 55,536 shares during the period. Citigroup Inc. owned approximately 0.10% of Campbell Soup worth $14,963,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Blair William & Co. IL lifted its position in shares of Campbell Soup by 0.5% during the 2nd quarter. Blair William & Co. IL now owns 43,869 shares of the company’s stock worth $1,982,000 after purchasing an additional 218 shares during the last quarter. Brown Lisle Cummings Inc. lifted its position in shares of Campbell Soup by 1.3% during the 3rd quarter. Brown Lisle Cummings Inc. now owns 20,147 shares of the company’s stock worth $986,000 after purchasing an additional 254 shares during the last quarter. Diversified Trust Co lifted its position in shares of Campbell Soup by 0.3% during the 3rd quarter. Diversified Trust Co now owns 87,845 shares of the company’s stock worth $4,297,000 after purchasing an additional 283 shares during the last quarter. V Square Quantitative Management LLC lifted its position in shares of Campbell Soup by 4.0% during the 3rd quarter. V Square Quantitative Management LLC now owns 7,538 shares of the company’s stock worth $369,000 after purchasing an additional 287 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its position in shares of Campbell Soup by 7.4% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 4,225 shares of the company’s stock worth $207,000 after purchasing an additional 290 shares during the last quarter. Institutional investors and hedge funds own 52.35% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CPB. Royal Bank of Canada boosted their price objective 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. JPMorgan Chase & Co. boosted their price objective on Campbell Soup from $55.00 to $57.00 and gave the company an “overweight” rating in a research report on Wednesday, September 11th. Wells Fargo & Company raised their target price on Campbell Soup from $49.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 11th. Piper Sandler raised shares of Campbell Soup from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $47.00 to $56.00 in a report on Thursday, November 14th. Finally, Sanford C. Bernstein raised shares of Campbell Soup from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $55.00 to $58.00 in a report on Monday, October 7th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Campbell Soup presently has an average rating of “Hold” and a consensus price target of $51.58.

Campbell Soup Trading Down 1.1 %

Shares of CPB opened at $46.07 on Thursday. Campbell Soup has a 1 year low of $39.65 and a 1 year high of $52.81. The company has a current ratio of 0.61, a quick ratio of 0.22 and a debt-to-equity ratio of 1.52. The stock has a 50 day simple moving average of $47.09 and a 200-day simple moving average of $47.04. The stock has a market cap of $13.71 billion, a PE ratio of 24.38, 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. Campbell Soup had a return on equity of 24.08% and a net margin of 5.88%. The firm had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period last year, the firm posted $0.50 EPS. The business’s revenue was up 10.9% on a year-over-year basis. On average, sell-side analysts predict that Campbell Soup will post 3.2 EPS for the current fiscal year.

Campbell Soup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Thursday, October 3rd were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 3.21%. Campbell Soup’s dividend payout ratio is 78.31%.

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.