Sumitomo Mitsui Trust Group Inc. Boosts Stake in Campbell Soup (NASDAQ:CPB)

Sumitomo Mitsui Trust Group Inc. boosted its holdings in Campbell Soup (NASDAQ:CPB) by 2.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 550,486 shares of the company’s stock after acquiring an additional 11,406 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.18% of Campbell Soup worth $26,930,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Campbell Soup during the 2nd quarter worth approximately $32,000. nVerses Capital LLC acquired a new stake in Campbell Soup in the third quarter valued at $34,000. Ashton Thomas Securities LLC purchased a new position in shares of Campbell Soup in the third quarter valued at $39,000. TruNorth Capital Management LLC acquired a new position in shares of Campbell Soup during the 2nd quarter worth $44,000. Finally, Rothschild Investment LLC acquired a new stake in Campbell Soup in the 2nd quarter valued at about $44,000. Institutional investors and hedge funds own 52.35% of the company’s stock.

Campbell Soup Trading Down 2.9 %

Shares of CPB opened at $43.15 on Friday. Campbell Soup has a twelve month low of $39.65 and a twelve month high of $52.81. The firm has a market capitalization of $12.84 billion, a P/E ratio of 22.83, a price-to-earnings-growth ratio of 2.64 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. The stock’s fifty day simple moving average is $47.95 and its 200 day simple moving average is $47.05.

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

Campbell Soup Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Thursday, October 3rd. This represents a $1.48 annualized dividend and a dividend yield of 3.43%. Campbell Soup’s payout ratio is 78.31%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Piper Sandler raised shares of Campbell Soup from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $47.00 to $56.00 in a research note on Thursday. Wells Fargo & Company upped their price objective 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. JPMorgan Chase & Co. lifted their price objective on Campbell Soup from $55.00 to $57.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 11th. DA Davidson lowered shares of Campbell Soup from a “buy” rating to a “neutral” rating and set a $51.00 target price on the stock. in a report on Friday, September 27th. Finally, Royal Bank of Canada boosted their price objective on shares of Campbell Soup from $47.00 to $51.00 and gave the company a “sector perform” rating in a research report on Friday, September 13th. 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 company. According to MarketBeat, Campbell Soup presently has a consensus rating of “Hold” and a consensus target price of $51.58.

Campbell Soup Company 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.