First Horizon Advisors Inc. Reduces Stake in Campbell Soup (NASDAQ:CPB)

First Horizon Advisors Inc. reduced its stake in shares of Campbell Soup (NASDAQ:CPB) by 26.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 5,803 shares of the company’s stock after selling 2,049 shares during the period. First Horizon Advisors Inc.’s holdings in Campbell Soup were worth $284,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. CreativeOne Wealth LLC lifted its holdings in shares of Campbell Soup by 85.2% in the 1st quarter. CreativeOne Wealth LLC now owns 13,223 shares of the company’s stock worth $588,000 after acquiring an additional 6,083 shares during the last quarter. LRI Investments LLC bought a new stake in Campbell Soup in the first quarter worth about $86,000. Bayesian Capital Management LP boosted its position in shares of Campbell Soup by 218.7% during the first quarter. Bayesian Capital Management LP now owns 56,980 shares of the company’s stock valued at $2,533,000 after buying an additional 39,100 shares during the period. Janus Henderson Group PLC boosted its position in shares of Campbell Soup by 11.3% during the first quarter. Janus Henderson Group PLC now owns 90,699 shares of the company’s stock valued at $4,031,000 after buying an additional 9,237 shares during the period. Finally, Tidal Investments LLC boosted its position in shares of Campbell Soup by 12.8% during the first quarter. Tidal Investments LLC now owns 18,505 shares of the company’s stock valued at $822,000 after buying an additional 2,096 shares during the period. 52.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price target on Campbell Soup from $55.00 to $57.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 11th. Wells Fargo & Company upped their price target on shares of Campbell Soup from $49.00 to $51.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 11th. Sanford C. Bernstein upgraded shares of Campbell Soup from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $55.00 to $58.00 in a report on Monday, October 7th. TD Cowen upped their target price on shares of Campbell Soup from $47.00 to $51.00 and gave the stock a “hold” rating in a research note on Thursday, September 12th. Finally, DA Davidson downgraded shares of Campbell Soup from a “buy” rating to a “neutral” rating and set a $51.00 target price on the stock. in a research note on Friday, September 27th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, Campbell Soup currently has a consensus rating of “Hold” and a consensus target price of $51.58.

Campbell Soup Stock Up 1.9 %

Shares of NASDAQ CPB opened at $45.29 on Friday. The stock has a market capitalization of $13.48 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 2.59 and a beta of 0.19. The company has a current ratio of 0.61, a quick ratio of 0.22 and a debt-to-equity ratio of 1.52. Campbell Soup has a 12-month low of $39.65 and a 12-month high of $52.81. The stock’s fifty day simple moving average is $47.42 and its two-hundred day simple moving average is $47.00.

Campbell Soup (NASDAQ:CPB) last posted its earnings results on Thursday, August 29th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.01. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. Campbell Soup had a return on equity of 24.08% and a net margin of 5.88%. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.50 earnings per share. As a group, analysts expect that Campbell Soup will post 3.2 EPS for the current fiscal year.

Campbell Soup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Thursday, October 3rd were paid a $0.37 dividend. The ex-dividend date was Thursday, October 3rd. This represents a $1.48 annualized dividend and a yield of 3.27%. Campbell Soup’s dividend payout ratio (DPR) is 78.31%.

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.