Intech Investment Management LLC Purchases 16,357 Shares of Campbell Soup (NASDAQ:CPB)

Intech Investment Management LLC grew its holdings in Campbell Soup (NASDAQ:CPB) by 59.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 43,699 shares of the company’s stock after acquiring an additional 16,357 shares during the quarter. Intech Investment Management LLC’s holdings in Campbell Soup were worth $2,138,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in Campbell Soup in the 2nd quarter valued at about $32,000. nVerses Capital LLC acquired a new stake in Campbell Soup during the third quarter worth approximately $34,000. Ashton Thomas Securities LLC bought a new position in Campbell Soup during the 3rd quarter worth $39,000. TruNorth Capital Management LLC acquired a new position in Campbell Soup in the 2nd quarter valued at $44,000. Finally, Rothschild Investment LLC bought a new stake in shares of Campbell Soup during the 2nd quarter valued at $44,000. 52.35% of the stock is currently owned by institutional investors and hedge funds.

Campbell Soup Stock Up 1.9 %

NASDAQ:CPB opened at $45.29 on Monday. Campbell Soup has a one year low of $39.65 and a one year high of $52.81. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.61 and a quick ratio of 0.22. The company has a market cap of $13.48 billion, a PE ratio of 23.96, a P/E/G ratio of 2.56 and a beta of 0.19. The firm’s 50 day simple moving average is $47.30 and its 200 day simple moving average is $47.02.

Campbell Soup (NASDAQ:CPB) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.01. The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Campbell Soup had a net margin of 5.88% and a return on equity of 24.08%. Campbell Soup’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.50 earnings per share. On average, research analysts anticipate that Campbell Soup will post 3.2 earnings per share for the current year.

Campbell Soup Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts recently commented on CPB shares. Barclays boosted their price target on Campbell Soup from $45.00 to $49.00 and gave the company an “underweight” rating in a research note on Thursday, September 12th. Piper Sandler upgraded shares of Campbell Soup from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $47.00 to $56.00 in a research report on Thursday, November 14th. Argus upgraded Campbell Soup from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research note on Friday, September 20th. Royal Bank of Canada lifted their price target on Campbell Soup from $47.00 to $51.00 and gave the company a “sector perform” rating in a research note on Friday, September 13th. Finally, Sanford C. Bernstein upgraded Campbell Soup from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $55.00 to $58.00 in a research report on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Campbell Soup 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.