Sumitomo Mitsui DS Asset Management Company Ltd Has $1.05 Million Position in Campbell Soup (NASDAQ:CPB)

Sumitomo Mitsui DS Asset Management Company Ltd cut its holdings in Campbell Soup (NASDAQ:CPB) by 3.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 21,488 shares of the company’s stock after selling 731 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Campbell Soup were worth $1,051,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. M&G Plc bought a new stake in Campbell Soup during the 2nd quarter worth about $469,000. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Campbell Soup during the first quarter valued at approximately $672,000. Swedbank AB acquired a new stake in shares of Campbell Soup in the first quarter valued at approximately $11,405,000. Dimensional Fund Advisors LP raised its position in Campbell Soup by 14.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,876,253 shares of the company’s stock worth $129,971,000 after purchasing an additional 363,736 shares during the last quarter. Finally, AMF Tjanstepension AB acquired a new position in Campbell Soup during the 1st quarter worth $30,128,000. 52.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CPB shares. TD Cowen boosted their target price on Campbell Soup from $47.00 to $51.00 and gave the stock a “hold” rating in a research report on Thursday, September 12th. Barclays upped their target price on shares of Campbell Soup from $45.00 to $49.00 and gave the company an “underweight” rating in a research report on Thursday, September 12th. Sanford C. Bernstein upgraded shares of Campbell Soup from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $55.00 to $58.00 in a research report on Monday, October 7th. StockNews.com upgraded shares of Campbell Soup from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. Finally, DA Davidson lowered shares of Campbell Soup from a “buy” rating to a “neutral” rating and set a $51.00 target price for the company. in a report on Friday, September 27th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $50.83.

Campbell Soup Stock Up 0.2 %

NASDAQ:CPB opened at $47.36 on Wednesday. Campbell Soup has a 1 year low of $39.48 and a 1 year high of $52.81. The stock has a 50-day moving average price of $49.53 and a two-hundred day moving average price of $46.86. The stock has a market cap of $14.14 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 2.83 and a beta of 0.18. 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 (NASDAQ:CPB) last issued its quarterly earnings data 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 business had revenue of $2.29 billion during 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%. Campbell Soup’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.50 EPS. As a group, equities analysts expect that Campbell Soup will post 3.2 earnings per share for the current year.

Campbell Soup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Thursday, October 3rd will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.13%. The ex-dividend date is Thursday, October 3rd. Campbell Soup’s dividend payout ratio is 59.92%.

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.