Cornercap Investment Counsel Inc. Buys 3,935 Shares of Campbell Soup (NYSE:CPB)

Cornercap Investment Counsel Inc. boosted its stake in shares of Campbell Soup (NYSE:CPB) by 19.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 23,982 shares of the company’s stock after purchasing an additional 3,935 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Campbell Soup were worth $1,037,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CPB. Parkside Financial Bank & Trust lifted its holdings 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 buying an additional 358 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of Campbell Soup by 165.7% in 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 in the last quarter. ING Groep NV bought a new stake in shares of Campbell Soup in the 3rd quarter valued at about $33,000. Allworth Financial LP raised its holdings in shares of Campbell Soup by 110.0% in 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 in the last quarter. Finally, IFP Advisors Inc raised its holdings in shares of Campbell Soup by 176.2% in the 3rd quarter. IFP Advisors Inc now owns 1,019 shares of the company’s stock valued at $42,000 after purchasing an additional 650 shares in the last quarter. Institutional investors own 52.35% of the company’s stock.

Campbell Soup Stock Up 0.9 %

CPB stock opened at $42.69 on Tuesday. The firm’s fifty day simple moving average is $42.95 and its 200-day simple moving average is $42.31. The company has a market capitalization of $12.73 billion, a P/E ratio of 16.68, a price-to-earnings-growth ratio of 2.77 and a beta of 0.24. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.01 and a quick ratio of 0.43. Campbell Soup has a 12 month low of $37.94 and a 12 month high of $55.52.

Campbell Soup (NYSE:CPB) last released its quarterly earnings data on Wednesday, March 6th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. The business had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.44 billion. Campbell Soup had a net margin of 8.26% and a return on equity of 23.18%. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.80 EPS. As a group, equities research analysts forecast that Campbell Soup will post 3.05 earnings per share for the current year.

Campbell Soup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 29th. Investors of record on Thursday, April 4th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.47%. The ex-dividend date is Wednesday, April 3rd. Campbell Soup’s dividend payout ratio is currently 57.81%.

Wall Street Analysts Forecast Growth

CPB has been the subject of several recent research reports. Piper Sandler restated a “neutral” rating and issued a $47.00 price target on shares of Campbell Soup in a report on Tuesday, March 26th. Royal Bank of Canada restated a “sector perform” rating and issued a $47.00 price target on shares of Campbell Soup in a report on Thursday, March 14th. Evercore ISI began coverage on shares of Campbell Soup in a research report on Wednesday, March 13th. They issued an “in-line” rating and a $49.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Campbell Soup from $47.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Finally, TheStreet raised shares of Campbell Soup from a “c+” rating to a “b-” rating in a research report on Wednesday, January 3rd. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two 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 $46.38.

Campbell Soup 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.