New York State Common Retirement Fund Decreases Stock Holdings in Campbell Soup (NYSE:CPB)

New York State Common Retirement Fund cut its holdings in Campbell Soup (NYSE:CPB) by 11.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 141,217 shares of the company’s stock after selling 18,355 shares during the quarter. New York State Common Retirement Fund’s holdings in Campbell Soup were worth $6,105,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the business. Massmutual Trust Co. FSB ADV increased its position in shares of Campbell Soup by 165.7% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the company’s stock valued at $28,000 after buying an additional 406 shares during the period. ING Groep NV bought a new stake in Campbell Soup during the third quarter worth about $33,000. Allworth Financial LP grew its holdings in Campbell Soup by 110.0% in the third quarter. Allworth Financial LP now owns 819 shares of the company’s stock worth $34,000 after purchasing an additional 429 shares during the period. 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 valued at $44,000 after purchasing an additional 449 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new stake in shares of Campbell Soup in the 3rd quarter worth approximately $67,000. 52.35% of the stock is currently owned by institutional investors.

Campbell Soup Stock Down 2.2 %

Shares of CPB stock opened at $44.88 on Friday. The company’s fifty day moving average price is $43.65 and its 200-day moving average price is $42.77. Campbell Soup has a one year low of $37.94 and a one year high of $55.04. The company has a market capitalization of $13.38 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 2.97 and a beta of 0.23. 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 released its quarterly earnings data on Wednesday, March 6th. The company reported $0.80 EPS for the quarter, beating 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 business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the prior year, the firm earned $0.80 EPS. The business’s revenue was down 1.2% on a year-over-year basis. Sell-side analysts expect that Campbell Soup will post 3.05 EPS for the current fiscal year.

Campbell Soup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 29th. Investors of record on Thursday, April 4th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date was Wednesday, April 3rd. Campbell Soup’s dividend payout ratio (DPR) is presently 57.81%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Campbell Soup from $47.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $47.00 price objective on shares of Campbell Soup in a research report on Thursday, March 14th. DA Davidson started coverage on Campbell Soup in a research report on Friday, March 1st. They issued a “buy” rating and a $48.00 target price for the company. Piper Sandler reaffirmed a “neutral” rating and set a $47.00 price target on shares of Campbell Soup in a report on Tuesday, March 26th. Finally, Citigroup began coverage on shares of Campbell Soup in a report on Thursday, February 1st. They set a “sell” rating and a $41.00 price objective for the company. Three equities research 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, the stock currently has an average rating of “Hold” and an average target price of $46.38.

Campbell Soup 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.