Campbell Soup (NASDAQ:CPB) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems decreased its holdings in shares of Campbell Soup (NASDAQ:CPB) by 7.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,727 shares of the company’s stock after selling 1,099 shares during the quarter. Kentucky Retirement Systems’ holdings in Campbell Soup were worth $672,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in Campbell Soup in the second quarter valued at $32,000. nVerses Capital LLC acquired a new position in Campbell Soup in the third quarter valued at $34,000. Ashton Thomas Securities LLC acquired a new position in Campbell Soup in the third quarter valued at $39,000. TruNorth Capital Management LLC acquired a new position in Campbell Soup in the second quarter valued at $44,000. Finally, Rothschild Investment LLC acquired a new position in Campbell Soup in the second quarter valued at $44,000. Institutional investors and hedge funds own 52.35% of the company’s stock.

Campbell Soup Stock Up 0.0 %

Shares of NASDAQ CPB opened at $43.53 on Wednesday. Campbell Soup has a 1 year low of $39.65 and a 1 year high of $52.81. The firm has a market cap of $12.96 billion, a price-to-earnings ratio of 23.03, a PEG ratio of 2.57 and a beta of 0.19. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.22 and a current ratio of 0.61. The stock’s 50-day simple moving average is $47.63 and its 200-day simple moving average is $47.04.

Campbell Soup (NASDAQ:CPB) last announced its earnings results on Thursday, August 29th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. Campbell Soup had a return on equity of 24.08% and a net margin of 5.88%. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.50 earnings per share. As a group, equities analysts anticipate that Campbell Soup will post 3.2 earnings per share for the current fiscal year.

Campbell Soup Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Thursday, October 3rd were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend was Thursday, October 3rd. Campbell Soup’s dividend payout ratio is currently 78.31%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. TD Cowen lifted their target price on Campbell Soup from $47.00 to $51.00 and gave the company a “hold” rating in a report on Thursday, September 12th. Barclays raised their price objective on Campbell Soup from $45.00 to $49.00 and gave the company an “underweight” rating in a research report on Thursday, September 12th. Stifel Nicolaus reissued a “hold” rating and issued a $45.00 price objective on shares of Campbell Soup in a research report on Tuesday, August 27th. Sanford C. Bernstein raised Campbell Soup from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $55.00 to $58.00 in a research report on Monday, October 7th. Finally, Piper Sandler raised Campbell Soup from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $47.00 to $56.00 in a research report on Thursday, November 14th. Two investment 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, Campbell Soup has a consensus rating of “Hold” and a consensus price target of $51.58.

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.