Swedbank AB boosted its holdings in Campbell Soup (NASDAQ:CPB - Free Report) by 49.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 350,764 shares of the company's stock after buying an additional 115,794 shares during the quarter. Swedbank AB owned approximately 0.12% of Campbell Soup worth $17,159,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the business. nVerses Capital LLC bought a new stake in shares of Campbell Soup in the 3rd quarter valued at about $34,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Campbell Soup in the second quarter valued at approximately $32,000. Ashton Thomas Securities LLC bought a new stake in Campbell Soup in the third quarter valued at approximately $39,000. TruNorth Capital Management LLC acquired a new stake in Campbell Soup during the 2nd quarter valued at approximately $44,000. Finally, Rothschild Investment LLC bought a new position in Campbell Soup during the 2nd quarter worth approximately $44,000. 52.35% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts recently weighed in on CPB shares. StockNews.com raised shares of Campbell Soup from a "sell" rating to a "hold" rating in a research note on Thursday, September 26th. Royal Bank of Canada lifted their price objective on Campbell Soup from $47.00 to $51.00 and gave the stock a "sector perform" rating in a research report on Friday, September 13th. JPMorgan Chase & Co. raised their target price on Campbell Soup from $55.00 to $57.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 11th. Stifel Nicolaus reiterated a "hold" rating and issued a $45.00 target price on shares of Campbell Soup in a report on Tuesday, August 27th. Finally, Argus upgraded Campbell Soup from a "hold" rating to a "buy" rating and set a $59.00 price target on the stock in a report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $51.58.
Read Our Latest Research Report on Campbell Soup
Shares of CPB stock opened at $46.60 on Wednesday. The company has a current ratio of 0.61, a quick ratio of 0.22 and a debt-to-equity ratio of 1.52. The firm has a fifty day simple moving average of $47.19 and a two-hundred day simple moving average of $47.03. Campbell Soup has a 12 month low of $39.65 and a 12 month high of $52.81. The firm has a market capitalization of $13.87 billion, a PE ratio of 24.66, a price-to-earnings-growth ratio of 2.60 and a beta of 0.19.
Campbell Soup (NASDAQ:CPB - Get Free Report) last posted its earnings results on Thursday, August 29th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.62 by $0.01. Campbell Soup had a net margin of 5.88% and a return on equity of 24.08%. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the previous year, the firm posted $0.50 earnings per share. The firm's revenue for the quarter was up 10.9% on a year-over-year basis. Analysts forecast that Campbell Soup will post 3.2 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Thursday, October 3rd were given a dividend of $0.37 per share. The ex-dividend date was Thursday, October 3rd. This represents a $1.48 annualized dividend and a dividend yield of 3.18%. Campbell Soup's payout ratio is 78.31%.
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.
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