Cerity Partners LLC Cuts Stock Holdings in Campbell Soup (NASDAQ:CPB)

Cerity Partners LLC cut its stake in Campbell Soup (NASDAQ:CPB) by 7.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 212,291 shares of the company’s stock after selling 17,211 shares during the period. Cerity Partners LLC’s holdings in Campbell Soup were worth $10,385,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in Campbell Soup during the 2nd quarter worth approximately $32,000. nVerses Capital LLC acquired a new position in shares of Campbell Soup during the third quarter worth $34,000. Ashton Thomas Securities LLC purchased a new stake in Campbell Soup during the 3rd quarter worth about $39,000. TruNorth Capital Management LLC acquired a new position in shares of Campbell Soup during the 2nd quarter worth about $44,000. Finally, Rothschild Investment LLC purchased a new stake in Campbell Soup during the second quarter worth approximately $44,000. 52.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Stifel Nicolaus restated a “hold” rating and set a $45.00 price objective on shares of Campbell Soup in a research report on Tuesday, August 27th. Wells Fargo & Company raised their price objective on Campbell Soup from $49.00 to $51.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 11th. Barclays lifted their target price on shares of Campbell Soup from $45.00 to $49.00 and gave the company an “underweight” rating in a report on Thursday, September 12th. DA Davidson cut shares of Campbell Soup from a “buy” rating to a “neutral” rating and set a $51.00 target price for the company. in a report on Friday, September 27th. Finally, TD Cowen raised their price target on Campbell Soup from $47.00 to $51.00 and gave the stock a “hold” rating in a report on Thursday, September 12th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $51.58.

Campbell Soup Stock Up 1.5 %

CPB opened at $46.60 on Wednesday. The business has a 50 day simple moving average of $47.19 and a 200-day simple moving average of $47.03. Campbell Soup has a 12 month low of $39.65 and a 12 month high of $52.81. The stock has a market capitalization of $13.87 billion, a P/E ratio of 24.66, a P/E/G ratio of 2.60 and a beta of 0.19. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.61 and a quick ratio of 0.22.

Campbell Soup (NASDAQ:CPB) last released its earnings results on Thursday, August 29th. The company reported $0.63 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 company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter last year, the company earned $0.50 earnings per share. Campbell Soup’s quarterly revenue was up 10.9% compared to the same quarter last year. On average, equities analysts anticipate that Campbell Soup will post 3.2 earnings per share for the current fiscal year.

Campbell Soup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Thursday, October 3rd were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.18%. Campbell Soup’s payout ratio is 78.31%.

About Campbell Soup

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.