First Horizon Advisors Inc. Trims Holdings in Campbell Soup (NASDAQ:CPB)

First Horizon Advisors Inc. decreased its stake in shares of Campbell Soup (NASDAQ:CPB) by 26.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 5,803 shares of the company’s stock after selling 2,049 shares during the period. First Horizon Advisors Inc.’s holdings in Campbell Soup were worth $284,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Campbell Soup in the second quarter worth about $32,000. nVerses Capital LLC bought a new stake in Campbell Soup during the third quarter worth about $34,000. Ashton Thomas Securities LLC purchased a new stake in Campbell Soup in the third quarter worth approximately $39,000. TruNorth Capital Management LLC purchased a new stake in shares of Campbell Soup in the 2nd quarter valued at $44,000. Finally, Rothschild Investment LLC bought a new position in shares of Campbell Soup during the second quarter valued at about $44,000. Institutional investors own 52.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CPB shares. Sanford C. Bernstein upgraded shares of Campbell Soup from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $55.00 to $58.00 in a research report on Monday, October 7th. Piper Sandler raised shares of Campbell Soup from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $47.00 to $56.00 in a report on Thursday, November 14th. StockNews.com raised Campbell Soup from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. TD Cowen raised their price target on Campbell Soup from $47.00 to $51.00 and gave the stock a “hold” rating in a research note on Thursday, September 12th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Campbell Soup from $55.00 to $57.00 and gave the company an “overweight” rating in a research report on Wednesday, September 11th. Two research 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.com, Campbell Soup presently has an average rating of “Hold” and a consensus target price of $51.58.

Campbell Soup Stock Performance

CPB opened at $45.29 on Friday. The stock has a market capitalization of $13.48 billion, a price-to-earnings ratio of 23.96, a PEG ratio of 2.59 and a beta of 0.19. Campbell Soup has a fifty-two week low of $39.65 and a fifty-two week high of $52.81. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.22 and a current ratio of 0.61. The company has a fifty day moving average of $47.42 and a 200 day moving average of $47.00.

Campbell Soup (NASDAQ:CPB) last issued its earnings results on Thursday, August 29th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.01. Campbell Soup had a return on equity of 24.08% and a net margin of 5.88%. The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the previous year, the firm posted $0.50 earnings per share. The business’s revenue was up 10.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Campbell Soup will post 3.2 earnings per share for the current fiscal year.

Campbell Soup Dividend Announcement

The company also recently announced 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 was Thursday, October 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.27%. 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.