Campbell Soup (NYSE:CPB) Stock Holdings Boosted by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC grew its stake in shares of Campbell Soup (NYSE:CPB) by 11.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 43,481 shares of the company’s stock after buying an additional 4,407 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Campbell Soup were worth $1,880,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Invesco Ltd. lifted its position in shares of Campbell Soup by 6.8% during the 3rd quarter. Invesco Ltd. now owns 5,035,674 shares of the company’s stock valued at $206,865,000 after acquiring an additional 318,983 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Campbell Soup by 2,269.3% in the third quarter. Van ECK Associates Corp now owns 3,715,761 shares of the company’s stock valued at $152,643,000 after purchasing an additional 3,558,933 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Campbell Soup by 4.7% in the third quarter. Northern Trust Corp now owns 2,845,931 shares of the company’s stock valued at $116,911,000 after purchasing an additional 127,574 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Campbell Soup by 19.3% in the third quarter. Bank of New York Mellon Corp now owns 2,157,930 shares of the company’s stock valued at $88,648,000 after purchasing an additional 349,485 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Campbell Soup by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,639,006 shares of the company’s stock valued at $67,330,000 after purchasing an additional 14,555 shares in the last quarter. Institutional investors and hedge funds own 52.35% of the company’s stock.

Campbell Soup Stock Up 1.3 %

Shares of CPB opened at $45.55 on Thursday. The stock has a market cap of $13.58 billion, a price-to-earnings ratio of 17.79, a P/E/G ratio of 2.94 and a beta of 0.24. The company has a quick ratio of 0.43, a current ratio of 1.01 and a debt-to-equity ratio of 1.17. Campbell Soup has a 12 month low of $37.94 and a 12 month high of $55.14. The company has a 50-day moving average price of $43.09 and a two-hundred day moving average price of $42.48.

Campbell Soup (NYSE:CPB) last posted its earnings results on Wednesday, March 6th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. The company had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.44 billion. Campbell Soup had a net margin of 8.26% and a return on equity of 23.18%. Campbell Soup’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.80 earnings per share. Equities analysts predict that Campbell Soup will post 3.05 EPS for the current fiscal year.

Campbell Soup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 29th. Investors of record on Thursday, April 4th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Wednesday, April 3rd. Campbell Soup’s dividend payout ratio is currently 57.81%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CPB. 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. Royal Bank of Canada restated a “sector perform” rating and issued a $47.00 target price on shares of Campbell Soup in a report on Thursday, March 14th. Evercore ISI assumed coverage on Campbell Soup in a report on Wednesday, March 13th. They issued an “in-line” rating and a $49.00 target price for the company. DA Davidson assumed coverage on shares of Campbell Soup in a research note on Friday, March 1st. They issued a “buy” rating and a $48.00 price target on the stock. Finally, TheStreet raised shares of Campbell Soup from a “c+” rating to a “b-” rating in a research note on Wednesday, January 3rd. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price 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.