ICICI Prudential Asset Management Co Ltd Grows Stock Holdings in Campbell Soup (NASDAQ:CPB)

ICICI Prudential Asset Management Co Ltd boosted its stake in shares of Campbell Soup (NASDAQ:CPB) by 6.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 196,153 shares of the company’s stock after purchasing an additional 12,000 shares during the quarter. Campbell Soup comprises approximately 1.0% of ICICI Prudential Asset Management Co Ltd’s holdings, making the stock its 27th biggest position. ICICI Prudential Asset Management Co Ltd’s holdings in Campbell Soup were worth $9,596,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CPB. nVerses Capital LLC purchased a new position in Campbell Soup in the 3rd quarter valued at about $34,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Campbell Soup in the second quarter worth approximately $32,000. Ashton Thomas Securities LLC acquired a new stake in Campbell Soup in the 3rd quarter worth approximately $39,000. TruNorth Capital Management LLC acquired a new position in Campbell Soup in the 2nd quarter valued at approximately $44,000. Finally, Rothschild Investment LLC acquired a new stake in shares of Campbell Soup during the second quarter worth approximately $44,000. Institutional investors and hedge funds own 52.35% of the company’s stock.

Wall Street Analyst Weigh In

CPB has been the subject of several recent analyst reports. Barclays raised their target price on shares of Campbell Soup from $45.00 to $49.00 and gave the company an “underweight” rating in a research note on Thursday, September 12th. DA Davidson downgraded shares of Campbell Soup from a “buy” rating to a “neutral” rating and set a $51.00 target price for the company. in a research note on Friday, September 27th. JPMorgan Chase & Co. lifted their price target on Campbell Soup from $55.00 to $57.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 11th. Wells Fargo & Company increased their target price on Campbell Soup from $49.00 to $51.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 11th. Finally, StockNews.com raised Campbell Soup from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $50.83.

Campbell Soup Stock Performance

Shares of Campbell Soup stock traded down $0.29 on Wednesday, reaching $43.95. 288,411 shares of the stock were exchanged, compared to its average volume of 2,506,850. The business has a fifty day moving average price of $48.41 and a two-hundred day moving average price of $47.10. The firm has a market capitalization of $13.08 billion, a PE ratio of 23.29, a PEG ratio of 2.67 and a beta of 0.19. Campbell Soup has a 1-year low of $39.65 and a 1-year high of $52.81. The company has a current ratio of 0.61, a quick ratio of 0.22 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 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. Campbell Soup had a net margin of 5.88% and a return on equity of 24.08%. The firm’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.50 earnings per share. As a group, research analysts anticipate that Campbell Soup will post 3.2 earnings per share for the current fiscal year.

Campbell Soup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Thursday, October 3rd were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date was Thursday, October 3rd. Campbell Soup’s dividend payout ratio is currently 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.