Bank of Montreal Can Purchases 94,133 Shares of Campbell Soup (NASDAQ:CPB)

Bank of Montreal Can grew its position in Campbell Soup (NASDAQ:CPB) by 10.5% during the third quarter, HoldingsChannel.com reports. The fund owned 993,205 shares of the company’s stock after acquiring an additional 94,133 shares during the quarter. Bank of Montreal Can’s holdings in Campbell Soup were worth $49,025,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in Campbell Soup in the 2nd quarter worth approximately $32,000. nVerses Capital LLC bought a new stake in Campbell Soup in the 3rd quarter worth approximately $34,000. Ashton Thomas Securities LLC bought a new stake in Campbell Soup in the 3rd quarter worth approximately $39,000. TruNorth Capital Management LLC bought a new stake in Campbell Soup in the 2nd quarter worth approximately $44,000. Finally, Rothschild Investment LLC bought a new stake in Campbell Soup in the 2nd quarter worth approximately $44,000. Institutional investors own 52.35% of the company’s stock.

Campbell Soup Price Performance

CPB opened at $46.07 on Thursday. The business has a fifty day moving average of $47.09 and a 200 day moving average of $47.04. Campbell Soup has a 52-week low of $39.65 and a 52-week high of $52.81. The company has a quick ratio of 0.22, a current ratio of 0.61 and a debt-to-equity ratio of 1.52. The stock has a market cap of $13.71 billion, a P/E ratio of 24.38, a PEG ratio of 2.64 and a beta of 0.19.

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

Campbell Soup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Thursday, October 3rd were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date was Thursday, October 3rd. Campbell Soup’s payout ratio is currently 78.31%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Royal Bank of Canada lifted their price objective on Campbell Soup from $47.00 to $51.00 and gave the stock a “sector perform” rating in a research note on Friday, September 13th. StockNews.com raised Campbell Soup from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. Wells Fargo & Company boosted their target price on Campbell Soup from $49.00 to $51.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 11th. DA Davidson downgraded Campbell Soup from a “buy” rating to a “neutral” rating and set a $51.00 target price on the stock. in a research report on Friday, September 27th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $45.00 target price on shares of Campbell Soup in a research report on Tuesday, August 27th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $51.58.

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.