Norges Bank Purchases New Shares in Campbell Soup (NYSE:CPB)

Norges Bank purchased a new stake in shares of Campbell Soup (NYSE:CPB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,907,456 shares of the company’s stock, valued at approximately $125,689,000. Norges Bank owned 0.97% of Campbell Soup as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its position in Campbell Soup by 97.2% during the fourth quarter. Van ECK Associates Corp now owns 7,329,256 shares of the company’s stock valued at $316,844,000 after buying an additional 3,613,495 shares during the period. Invesco Ltd. lifted its holdings in Campbell Soup by 6.8% during the third quarter. Invesco Ltd. now owns 5,035,674 shares of the company’s stock valued at $206,865,000 after purchasing an additional 318,983 shares in the last quarter. Northern Trust Corp lifted its holdings in Campbell Soup by 4.7% during 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. Charles Schwab Investment Management Inc. lifted its holdings in Campbell Soup by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,688,669 shares of the company’s stock valued at $73,001,000 after purchasing an additional 49,663 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in Campbell Soup by 62.3% during the third quarter. Deutsche Bank AG now owns 1,453,612 shares of the company’s stock valued at $59,714,000 after purchasing an additional 557,948 shares in the last quarter. Institutional investors and hedge funds own 52.35% of the company’s stock.

Campbell Soup Price Performance

Shares of CPB opened at $45.64 on Friday. Campbell Soup has a fifty-two week low of $37.94 and a fifty-two week high of $52.12. The firm’s 50 day moving average price is $44.55 and its 200 day moving average price is $43.31. The company has a market cap of $13.61 billion, a P/E ratio of 17.83, a PEG ratio of 3.00 and a beta of 0.23. 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 (NYSE:CPB) last announced its earnings results on Wednesday, March 6th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. Campbell Soup had a net margin of 8.26% and a return on equity of 23.18%. The firm had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the prior year, the firm earned $0.80 EPS. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, 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 disclosed a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Wednesday, July 3rd will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date is Wednesday, July 3rd. Campbell Soup’s dividend payout ratio is presently 57.81%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CPB shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $47.00 price objective on shares of Campbell Soup in a report on Thursday, March 14th. Evercore ISI initiated coverage on shares of Campbell Soup in a report on Wednesday, March 13th. They set an “in-line” rating and a $49.00 price objective on the stock. Piper Sandler restated a “neutral” rating and set a $47.00 price target on shares of Campbell Soup in a research report on Tuesday, March 26th. DA Davidson initiated coverage on shares of Campbell Soup in a research report on Friday, March 1st. They set a “buy” rating and a $48.00 price target on the stock. Finally, JPMorgan Chase & Co. boosted their price target 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. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $46.41.

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.