Campbell Soup (NYSE:CPB) Shares Sold by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp reduced its stake in Campbell Soup (NYSE:CPB) by 2.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 45,949 shares of the company’s stock after selling 935 shares during the period. Alaska Permanent Fund Corp’s holdings in Campbell Soup were worth $1,986,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. GAMMA Investing LLC purchased a new position in Campbell Soup during the fourth quarter worth about $124,000. Wedge Capital Management L L P NC grew its holdings in shares of Campbell Soup by 11.3% during the 4th quarter. Wedge Capital Management L L P NC now owns 43,481 shares of the company’s stock worth $1,880,000 after purchasing an additional 4,407 shares during the period. Duality Advisers LP purchased a new stake in Campbell Soup in the 4th quarter valued at about $1,131,000. Hussman Strategic Advisors Inc. lifted its position in Campbell Soup by 68.3% in the fourth quarter. Hussman Strategic Advisors Inc. now owns 105,000 shares of the company’s stock valued at $4,539,000 after buying an additional 42,600 shares during the last quarter. Finally, Sigma Planning Corp purchased a new position in Campbell Soup during the fourth quarter worth about $275,000. 52.35% of the stock is owned by institutional investors and hedge funds.

Campbell Soup Stock Performance

Shares of CPB stock opened at $45.37 on Friday. The stock’s 50-day moving average is $43.26 and its two-hundred day moving average is $42.53. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.43 and a current ratio of 1.01. Campbell Soup has a 1 year low of $37.94 and a 1 year high of $55.14. The firm has a market cap of $13.52 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 2.98 and a beta of 0.24.

Campbell Soup (NYSE:CPB) last announced its earnings results on Wednesday, March 6th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. Campbell Soup had a net margin of 8.26% and a return on equity of 23.18%. The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the prior year, the firm earned $0.80 earnings per share. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. Analysts predict that Campbell Soup will post 3.05 earnings per share for the current year.

Campbell Soup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 29th. Stockholders of record on Thursday, April 4th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Wednesday, April 3rd. Campbell Soup’s payout ratio is currently 57.81%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CPB. Royal Bank of Canada reissued a “sector perform” rating and issued a $47.00 price target on shares of Campbell Soup in a research note on Thursday, March 14th. TheStreet raised Campbell Soup from a “c+” rating to a “b-” rating in a research report on Wednesday, January 3rd. Evercore ISI initiated coverage on Campbell Soup in a research report on Wednesday, March 13th. They set an “in-line” rating and a $49.00 price target for the company. Piper Sandler reiterated a “neutral” rating and issued a $47.00 price objective on shares of Campbell Soup in a report on Tuesday, March 26th. Finally, DA Davidson initiated coverage on Campbell Soup in a research report on Friday, March 1st. They issued a “buy” rating and a $48.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, Campbell Soup presently has an average rating of “Hold” and a consensus target price of $46.38.

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.