Short Interest in Campbell Soup (NYSE:CPB) Expands By 6.3%

Campbell Soup (NYSE:CPB) was the recipient of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 14,740,000 shares, a growth of 6.3% from the February 29th total of 13,860,000 shares. Based on an average trading volume of 2,740,000 shares, the short-interest ratio is presently 5.4 days. Currently, 7.5% of the company’s stock are sold short.

Institutional Investors Weigh In On Campbell Soup

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Parkside Financial Bank & Trust raised its position in Campbell Soup by 149.8% during the 1st quarter. Parkside Financial Bank & Trust now owns 597 shares of the company’s stock valued at $27,000 after purchasing an additional 358 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its position in Campbell Soup by 165.7% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the company’s stock valued at $28,000 after purchasing an additional 406 shares during the last quarter. Jones Financial Companies Lllp bought a new position in Campbell Soup during the 4th quarter valued at approximately $31,000. ING Groep NV bought a new position in Campbell Soup during the 3rd quarter valued at approximately $33,000. Finally, Allworth Financial LP raised its position in Campbell Soup by 110.0% during the 3rd quarter. Allworth Financial LP now owns 819 shares of the company’s stock valued at $34,000 after purchasing an additional 429 shares during the last quarter. Institutional investors own 52.35% of the company’s stock.

Campbell Soup Price Performance

CPB stock traded down $0.24 during mid-day trading on Tuesday, hitting $44.42. 2,466,655 shares of the stock were exchanged, compared to its average volume of 2,799,120. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.01 and a quick ratio of 0.43. The business has a fifty day moving average price of $43.13 and a 200 day moving average price of $42.22. Campbell Soup has a 12 month low of $37.94 and a 12 month high of $56.04. The stock has a market capitalization of $13.24 billion, a price-to-earnings ratio of 17.41, a PEG ratio of 3.34 and a beta of 0.24.

Campbell Soup (NYSE:CPB) last issued its quarterly earnings results on Wednesday, March 6th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.03. Campbell Soup had a return on equity of 23.18% and a net margin of 8.26%. The firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the previous year, the company posted $0.80 earnings per share. The company’s revenue was down 1.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Campbell Soup will post 3.06 EPS for the current year.

Campbell Soup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 29th. Stockholders of record on Thursday, April 4th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date is Wednesday, April 3rd. Campbell Soup’s dividend payout ratio (DPR) is presently 57.81%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CPB shares. Piper Sandler restated a “neutral” rating and issued a $47.00 target price on shares of Campbell Soup in a report on Tuesday, March 26th. Wells Fargo & Company began coverage on Campbell Soup in a research note on Tuesday, December 12th. They issued an “equal weight” rating and a $47.00 target price on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $47.00 price target on shares of Campbell Soup in a research report on Thursday, March 14th. TheStreet upgraded Campbell Soup from a “c+” rating to a “b-” rating in a research report on Wednesday, January 3rd. Finally, Evercore ISI began coverage on Campbell Soup in a research report on Wednesday, March 13th. They issued an “in-line” rating and a $49.00 price target for the company. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $46.38.

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.