Sumitomo Mitsui DS Asset Management Company Ltd Raises Stock Holdings in The Campbell Soup Company (NASDAQ:CPB)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of The Campbell Soup Company (NASDAQ:CPB) by 43.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,803 shares of the company’s stock after acquiring an additional 9,315 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Campbell Soup were worth $1,290,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CPB. State Street Corp lifted its position in Campbell Soup by 3.1% during the 3rd quarter. State Street Corp now owns 10,048,679 shares of the company’s stock worth $491,581,000 after acquiring an additional 298,203 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Campbell Soup by 6.5% during the third quarter. Geode Capital Management LLC now owns 5,265,615 shares of the company’s stock worth $256,827,000 after purchasing an additional 322,951 shares during the period. Franklin Resources Inc. grew its position in Campbell Soup by 1,593.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,904,440 shares of the company’s stock valued at $91,623,000 after buying an additional 1,792,005 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Campbell Soup by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,765,632 shares of the company’s stock valued at $86,375,000 after buying an additional 12,822 shares during the period. Finally, Victory Capital Management Inc. raised its position in Campbell Soup by 88.2% during the 3rd quarter. Victory Capital Management Inc. now owns 1,192,610 shares of the company’s stock worth $58,342,000 after buying an additional 558,944 shares during the last quarter. 52.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Campbell Soup

In other news, EVP Anthony Sanzio sold 2,000 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $41.90, for a total transaction of $83,800.00. Following the completion of the transaction, the executive vice president now owns 16,551 shares of the company’s stock, valued at $693,486.90. This represents a 10.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 20.19% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CPB. Piper Sandler raised shares of Campbell Soup from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $47.00 to $56.00 in a report on Thursday, November 14th. Barclays dropped their price objective on Campbell Soup from $49.00 to $46.00 and set an “underweight” rating on the stock in a report on Friday, December 6th. DA Davidson reissued a “neutral” rating and issued a $51.00 target price on shares of Campbell Soup in a report on Wednesday, December 4th. Stephens reaffirmed an “overweight” rating on shares of Campbell Soup in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company reduced their price objective on shares of Campbell Soup from $45.00 to $43.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Campbell Soup currently has an average rating of “Hold” and a consensus price target of $50.17.

Campbell Soup Stock Up 1.5 %

Shares of NASDAQ:CPB opened at $37.95 on Wednesday. The company has a quick ratio of 0.50, a current ratio of 0.91 and a debt-to-equity ratio of 1.74. The company has a market capitalization of $11.31 billion, a P/E ratio of 20.74, a P/E/G ratio of 2.59 and a beta of 0.19. The Campbell Soup Company has a 52-week low of $36.92 and a 52-week high of $52.81. The stock’s fifty day simple moving average is $40.31 and its 200-day simple moving average is $45.36.

Campbell Soup (NASDAQ:CPB) last released its earnings results on Tuesday, December 3rd. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.02. Campbell Soup had a net margin of 5.57% and a return on equity of 23.79%. As a group, equities research analysts forecast that The Campbell Soup Company will post 3.15 earnings per share for the current fiscal year.

Campbell Soup Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Thursday, January 2nd were paid a $0.39 dividend. This is a boost from Campbell Soup’s previous quarterly dividend of $0.37. This represents a $1.56 annualized dividend and a yield of 4.11%. The ex-dividend date of this dividend was Thursday, January 2nd. Campbell Soup’s payout ratio is presently 85.25%.

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.