Concord Wealth Partners Boosts Holdings in Campbell Soup (NYSE:CPB)

Concord Wealth Partners grew its holdings in Campbell Soup (NYSE:CPB) by 92.8% in the 4th quarter, HoldingsChannel reports. The firm owned 3,698 shares of the company’s stock after purchasing an additional 1,780 shares during the quarter. Concord Wealth Partners’ holdings in Campbell Soup were worth $160,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Van ECK Associates Corp raised its holdings in Campbell Soup by 97.2% in the fourth quarter. Van ECK Associates Corp now owns 7,329,256 shares of the company’s stock valued at $316,844,000 after acquiring an additional 3,613,495 shares in the last quarter. Deutsche Bank AG raised its holdings in Campbell Soup by 62.3% in the third quarter. Deutsche Bank AG now owns 1,453,612 shares of the company’s stock valued at $59,714,000 after acquiring an additional 557,948 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Campbell Soup by 19.3% during the third quarter. Bank of New York Mellon Corp now owns 2,157,930 shares of the company’s stock worth $88,648,000 after purchasing an additional 349,485 shares in the last quarter. 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 worth $206,865,000 after buying an additional 318,983 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Campbell Soup by 78.6% during the 3rd quarter. Victory Capital Management Inc. now owns 545,542 shares of the company’s stock worth $22,411,000 after buying an additional 240,123 shares during the last quarter. Hedge funds and other institutional investors own 52.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Piper Sandler restated a “neutral” rating and set a $47.00 price objective on shares of Campbell Soup in a research report on Tuesday, March 26th. Royal Bank of Canada restated a “sector perform” rating and set a $47.00 price objective on shares of Campbell Soup in a research report on Thursday, March 14th. Evercore ISI assumed 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 target for the company. DA Davidson assumed coverage on shares of Campbell Soup in a research report on Friday, March 1st. They issued a “buy” rating and a $48.00 price target for the company. Finally, JPMorgan Chase & Co. upped their price target on shares of Campbell Soup from $47.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $46.38.

Campbell Soup Price Performance

Shares of NYSE CPB opened at $45.89 on Friday. The stock has a market cap of $13.68 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 2.97 and a beta of 0.23. Campbell Soup has a 52 week low of $37.94 and a 52 week high of $55.04. The company’s 50-day moving average price is $43.60 and its 200 day moving average price is $42.73. The company has a current ratio of 1.01, a quick ratio of 0.43 and a debt-to-equity ratio of 1.17.

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

Campbell Soup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 29th. Shareholders of record on Thursday, April 4th were issued a $0.37 dividend. The ex-dividend date was Wednesday, April 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 3.23%. Campbell Soup’s dividend payout ratio (DPR) is 57.81%.

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.