DNB Asset Management AS Has $1.87 Million Stock Position in Campbell Soup (NYSE:CPB)

DNB Asset Management AS grew its position in Campbell Soup (NYSE:CPB) by 19.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,354 shares of the company’s stock after purchasing an additional 6,782 shares during the period. DNB Asset Management AS’s holdings in Campbell Soup were worth $1,869,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Lingohr Asset Management GmbH acquired a new stake in Campbell Soup in the fourth quarter valued at approximately $627,000. First Trust Advisors LP increased its holdings in shares of Campbell Soup by 6.5% during the 4th quarter. First Trust Advisors LP now owns 661,401 shares of the company’s stock valued at $28,592,000 after acquiring an additional 40,504 shares during the last quarter. Stephens Inc. AR bought a new stake in Campbell Soup during the fourth quarter worth approximately $1,211,000. B. Riley Wealth Advisors Inc. bought a new stake in Campbell Soup during the fourth quarter worth approximately $1,045,000. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in Campbell Soup during the first quarter worth approximately $672,000. 52.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CPB shares. JPMorgan Chase & Co. raised Campbell Soup from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $45.00 to $52.00 in a research report on Wednesday, June 26th. Wells Fargo & Company upped their target price on Campbell Soup from $45.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Friday, June 7th. Royal Bank of Canada reissued a “sector perform” rating and issued a $47.00 price objective on shares of Campbell Soup in a research report on Friday, June 7th. Citigroup increased their price objective on Campbell Soup from $41.00 to $42.00 and gave the company a “sell” rating in a research report on Thursday, May 23rd. Finally, DA Davidson increased their price objective on Campbell Soup from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $46.56.

Campbell Soup Stock Performance

Campbell Soup stock opened at $48.86 on Wednesday. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.62 and a quick ratio of 0.24. The stock has a fifty day moving average price of $45.39 and a two-hundred day moving average price of $44.42. Campbell Soup has a 52-week low of $37.94 and a 52-week high of $50.63. The firm has a market capitalization of $14.59 billion, a P/E ratio of 19.75, a P/E/G ratio of 2.90 and a beta of 0.16.

Campbell Soup (NYSE:CPB) last released its quarterly earnings data on Wednesday, June 5th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.05. Campbell Soup had a return on equity of 23.26% and a net margin of 7.85%. The firm had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same period in the prior year, the company posted $0.68 earnings per share. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, analysts anticipate that Campbell Soup will post 3.08 EPS for the current fiscal year.

Campbell Soup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 29th. Stockholders of record on Wednesday, July 3rd were paid a $0.37 dividend. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.03%. Campbell Soup’s dividend payout ratio (DPR) is presently 59.92%.

Campbell Soup 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.