Westhampton Capital LLC Lowers Stock Holdings in Campbell Soup (NYSE:CPB)

Westhampton Capital LLC lessened its stake in shares of Campbell Soup (NYSE:CPB) by 6.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,950 shares of the company’s stock after selling 1,000 shares during the quarter. Westhampton Capital LLC’s holdings in Campbell Soup were worth $665,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of CPB. Van ECK Associates Corp raised its position in Campbell Soup by 97.2% during the 4th quarter. Van ECK Associates Corp now owns 7,329,256 shares of the company’s stock worth $316,844,000 after buying an additional 3,613,495 shares during the last quarter. Norges Bank purchased a new position in Campbell Soup during the fourth quarter worth about $125,689,000. Charles Schwab Investment Management Inc. lifted its position in Campbell Soup by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,688,669 shares of the company’s stock valued at $73,001,000 after purchasing an additional 49,663 shares during the period. Deutsche Bank AG boosted its holdings in Campbell Soup by 62.3% in the 3rd quarter. Deutsche Bank AG now owns 1,453,612 shares of the company’s stock valued at $59,714,000 after purchasing an additional 557,948 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in Campbell Soup by 6.7% during the 4th quarter. Nordea Investment Management AB now owns 1,161,768 shares of the company’s stock worth $50,142,000 after purchasing an additional 72,701 shares during the period. 52.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CPB has been the topic of a number of analyst reports. DA Davidson lifted their price target on Campbell Soup from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $47.00 price target on shares of Campbell Soup in a report on Friday, June 7th. Piper Sandler reissued a “neutral” rating and set a $47.00 price objective on shares of Campbell Soup in a research note on Tuesday, March 26th. Wells Fargo & Company raised their price objective on shares of Campbell Soup from $45.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Friday, June 7th. Finally, Sanford C. Bernstein raised shares of Campbell Soup from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $42.00 to $46.00 in a research note on Wednesday, May 15th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $46.56.

Campbell Soup Stock Up 0.2 %

NYSE:CPB traded up $0.11 during trading hours on Tuesday, hitting $45.38. The stock had a trading volume of 1,021,800 shares, compared to its average volume of 2,723,669. The company has a current ratio of 0.62, a quick ratio of 0.24 and a debt-to-equity ratio of 1.47. Campbell Soup has a 1-year low of $37.94 and a 1-year high of $46.97. The business has a 50 day simple moving average of $44.90 and a two-hundred day simple moving average of $43.88. The company has a market cap of $13.55 billion, a PE ratio of 18.33, a price-to-earnings-growth ratio of 2.88 and a beta of 0.16.

Campbell Soup (NYSE:CPB) last issued its quarterly earnings data on Wednesday, June 5th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.05. Campbell Soup had a net margin of 7.85% and a return on equity of 23.26%. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter last year, the company earned $0.68 earnings per share. Campbell Soup’s revenue for the quarter was up 6.3% on a year-over-year basis. Analysts predict that Campbell Soup will post 3.08 EPS for the current year.

Campbell Soup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Stockholders of record on Wednesday, July 3rd will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend is Wednesday, July 3rd. Campbell Soup’s dividend payout ratio (DPR) is currently 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.