California Public Employees Retirement System Sells 8,786 Shares of Campbell Soup (NYSE:CPB)

California Public Employees Retirement System lowered its stake in shares of Campbell Soup (NYSE:CPB) by 0.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,225,099 shares of the company’s stock after selling 8,786 shares during the period. California Public Employees Retirement System owned 0.41% of Campbell Soup worth $52,961,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of CPB. Van ECK Associates Corp raised its position in shares of Campbell Soup by 2,269.3% during the third quarter. Van ECK Associates Corp now owns 3,715,761 shares of the company’s stock valued at $152,643,000 after buying an additional 3,558,933 shares during the last quarter. Deutsche Bank AG increased its position in Campbell Soup by 62.3% in the third quarter. Deutsche Bank AG now owns 1,453,612 shares of the company’s stock worth $59,714,000 after purchasing an additional 557,948 shares during the last quarter. Bank of New York Mellon Corp increased its position in 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 worth $88,648,000 after purchasing an additional 349,485 shares during the last quarter. Invesco Ltd. increased its position in Campbell Soup by 6.8% in the third quarter. Invesco Ltd. now owns 5,035,674 shares of the company’s stock worth $206,865,000 after purchasing an additional 318,983 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Campbell Soup by 78.6% in the third quarter. Victory Capital Management Inc. now owns 545,542 shares of the company’s stock worth $22,411,000 after purchasing an additional 240,123 shares during the last quarter. Institutional investors own 52.35% of the company’s stock.

Campbell Soup Price Performance

Shares of NYSE:CPB opened at $45.37 on Friday. Campbell Soup has a twelve month low of $37.94 and a twelve month high of $55.14. The company’s 50 day moving average is $43.18 and its 200 day moving average is $42.51. The company has a current ratio of 1.01, a quick ratio of 0.43 and a debt-to-equity ratio of 1.17. The company has a market cap of $13.52 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 2.98 and a beta of 0.24.

Campbell Soup (NYSE:CPB) last issued its quarterly 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 company had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the prior year, the company earned $0.80 EPS. Campbell Soup’s quarterly revenue was down 1.2% on a year-over-year basis. On average, sell-side analysts forecast that Campbell Soup will post 3.05 EPS for the current year.

Campbell Soup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 29th. Shareholders of record on Thursday, April 4th will be given a $0.37 dividend. The ex-dividend date is Wednesday, April 3rd. This represents a $1.48 annualized dividend and a yield of 3.26%. Campbell Soup’s dividend payout ratio is presently 57.81%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. TheStreet upgraded shares of Campbell Soup from a “c+” rating to a “b-” rating in a research report on Wednesday, January 3rd. JPMorgan Chase & Co. boosted their target price on shares of Campbell Soup from $47.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Citigroup began coverage on shares of Campbell Soup in a research note on Thursday, February 1st. They set a “sell” rating and a $41.00 target price for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $47.00 price objective on shares of Campbell Soup in a research note on Thursday, March 14th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $47.00 price objective on shares of Campbell Soup in a research note on Tuesday, March 26th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Campbell Soup currently has a consensus rating of “Hold” and a consensus price target of $46.38.

Campbell Soup Company 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.