PNC Financial Services Group Inc. Has $6.34 Million Stock Position in Campbell Soup (NYSE:CPB)

PNC Financial Services Group Inc. lowered its stake in Campbell Soup (NYSE:CPB) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 146,709 shares of the company’s stock after selling 663 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Campbell Soup were worth $6,342,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV lifted its holdings in Campbell Soup by 165.7% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the company’s stock worth $28,000 after purchasing an additional 406 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of Campbell Soup by 110.0% during the third quarter. Allworth Financial LP now owns 819 shares of the company’s stock worth $34,000 after buying an additional 429 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in shares of Campbell Soup by 79.9% during the fourth quarter. Lindbrook Capital LLC now owns 1,011 shares of the company’s stock worth $44,000 after buying an additional 449 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of Campbell Soup in the third quarter valued at about $67,000. Finally, NBC Securities Inc. bought a new position in Campbell Soup during the third quarter worth about $78,000. Institutional investors and hedge funds own 52.35% of the company’s stock.

Campbell Soup Trading Down 1.4 %

NYSE CPB opened at $45.64 on Friday. The business’s 50-day moving average price is $44.55 and its two-hundred day moving average price is $43.31. Campbell Soup has a 12 month low of $37.94 and a 12 month high of $52.12. The firm has a market capitalization of $13.61 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 3.00 and a beta of 0.23. 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 released its quarterly earnings results 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 analyst estimates of $2.44 billion. Campbell Soup had a return on equity of 23.18% and a net margin of 8.26%. The business’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.80 EPS. On average, analysts expect that Campbell Soup will post 3.05 EPS for the current year.

Campbell Soup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Wednesday, July 3rd will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Wednesday, July 3rd. Campbell Soup’s dividend payout ratio (DPR) is currently 57.81%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CPB. Piper Sandler reaffirmed a “neutral” rating and set a $47.00 target price on shares of Campbell Soup in a report on Tuesday, March 26th. JPMorgan Chase & Co. boosted their price target on Campbell Soup from $47.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Evercore ISI assumed coverage on shares of Campbell Soup in a report on Wednesday, March 13th. They issued an “in-line” rating and a $49.00 target price on the stock. 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, 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. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus 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.