Victory Capital Management Inc. Grows Stock Holdings in Campbell Soup (NASDAQ:CPB)

Victory Capital Management Inc. grew its holdings in Campbell Soup (NASDAQ:CPB) by 88.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,192,610 shares of the company’s stock after acquiring an additional 558,944 shares during the period. Victory Capital Management Inc. owned about 0.40% of Campbell Soup worth $58,342,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in Campbell Soup in the 2nd quarter worth approximately $32,000. nVerses Capital LLC purchased a new stake in Campbell Soup during the 3rd quarter worth $34,000. Ashton Thomas Securities LLC purchased a new stake in Campbell Soup during the 3rd quarter worth $39,000. TruNorth Capital Management LLC purchased a new position in Campbell Soup in the 2nd quarter valued at about $44,000. Finally, Rothschild Investment LLC purchased a new position 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 Stock Performance

Shares of NASDAQ CPB opened at $44.45 on Friday. The stock has a market capitalization of $13.23 billion, a P/E ratio of 23.52, a P/E/G ratio of 2.64 and a beta of 0.19. The firm’s 50-day moving average price is $48.26 and its two-hundred day moving average price is $47.08. 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.

Campbell Soup (NASDAQ:CPB) last released 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 business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the previous year, the firm posted $0.50 EPS. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Campbell Soup will post 3.2 earnings per share for the current year.

Campbell Soup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Thursday, October 3rd were given a $0.37 dividend. The ex-dividend date was Thursday, October 3rd. This represents a $1.48 annualized dividend and a yield of 3.33%. Campbell Soup’s dividend payout ratio is presently 78.31%.

Analyst Ratings Changes

Several research firms recently commented on CPB. JPMorgan Chase & Co. boosted their price target on Campbell Soup from $55.00 to $57.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 11th. Piper Sandler upgraded Campbell Soup from a “neutral” rating to an “overweight” rating and increased their target price for the company from $47.00 to $56.00 in a research note on Thursday. 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 note on Monday, October 7th. TD Cowen increased their price objective on shares of Campbell Soup from $47.00 to $51.00 and gave the company a “hold” rating in a research note on Thursday, September 12th. Finally, StockNews.com raised shares of Campbell Soup from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $51.58.

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.