Sumitomo Mitsui DS Asset Management Company Ltd Reduces Position in Campbell Soup (NYSE:CPB)

Sumitomo Mitsui DS Asset Management Company Ltd trimmed its holdings in shares of Campbell Soup (NYSE:CPB) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,501 shares of the company’s stock after selling 378 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Campbell Soup were worth $929,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Lindbrook Capital LLC increased its holdings in Campbell Soup by 79.9% in the fourth quarter. Lindbrook Capital LLC now owns 1,011 shares of the company’s stock valued at $44,000 after buying an additional 449 shares during the last quarter. abrdn plc increased its holdings in Campbell Soup by 18.2% in the fourth quarter. abrdn plc now owns 352,836 shares of the company’s stock valued at $15,253,000 after buying an additional 54,275 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in Campbell Soup by 6.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 17,779 shares of the company’s stock valued at $769,000 after buying an additional 1,018 shares during the last quarter. Cornercap Investment Counsel Inc. increased its holdings in Campbell Soup by 19.6% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 23,982 shares of the company’s stock valued at $1,037,000 after buying an additional 3,935 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Campbell Soup by 8.4% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 670,468 shares of the company’s stock valued at $28,984,000 after buying an additional 51,819 shares during the last quarter. 52.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CPB has been the subject of a number of research reports. DA Davidson initiated coverage on Campbell Soup in a research note on Friday, March 1st. They issued a “buy” rating and a $48.00 target price for the company. TheStreet upgraded Campbell Soup from a “c+” rating to a “b-” rating in a research note on Wednesday, January 3rd. JPMorgan Chase & Co. lifted their target price 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 initiated coverage on Campbell Soup in a research note on Wednesday, March 13th. They issued an “in-line” rating and a $49.00 target price for the company. Finally, Citigroup initiated coverage on Campbell Soup in a research note on Thursday, February 1st. They issued a “sell” rating and a $41.00 target price for the company. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $46.38.

Campbell Soup Price Performance

Shares of NYSE:CPB opened at $45.37 on Friday. Campbell Soup has a 12 month low of $37.94 and a 12 month high of $55.14. The stock has a market cap of $13.52 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 2.94 and a beta of 0.24. The stock’s 50 day moving average price is $43.18 and its 200 day moving average price is $42.51. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.01 and a quick ratio of 0.43.

Campbell Soup (NYSE:CPB) last announced its earnings results on Wednesday, March 6th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. Campbell Soup had a return on equity of 23.18% and a net margin of 8.26%. The firm had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter in the previous year, the company earned $0.80 earnings per share. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. Equities research analysts anticipate 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 will be paid on Monday, April 29th. Investors of record on Thursday, April 4th will be issued a dividend of $0.37 per share. The ex-dividend date is Wednesday, April 3rd. This represents a $1.48 annualized dividend and a yield of 3.26%. Campbell Soup’s payout ratio is 57.81%.

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.