Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Campbell Soup (NYSE:CPB – Get Rating) by 348.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 217,179 shares of the company’s stock after buying an additional 168,749 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.07% of Campbell Soup worth $10,435,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in CPB. Parkside Financial Bank & Trust raised its position in shares of Campbell Soup by 149.8% in the first quarter. Parkside Financial Bank & Trust now owns 597 shares of the company’s stock valued at $27,000 after buying an additional 358 shares in the last quarter. CX Institutional acquired a new stake in shares of Campbell Soup in the second quarter valued at approximately $35,000. ACG Wealth acquired a new stake in shares of Campbell Soup in the second quarter valued at approximately $36,000. Trust Co. of Vermont acquired a new stake in shares of Campbell Soup in the second quarter valued at approximately $67,000. Finally, Parallel Advisors LLC raised its position in shares of Campbell Soup by 66.3% in the second quarter. Parallel Advisors LLC now owns 1,759 shares of the company’s stock valued at $85,000 after buying an additional 701 shares in the last quarter. 51.16% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on CPB shares. Piper Sandler decreased their price objective on shares of Campbell Soup from $47.00 to $46.00 and set a “neutral” rating on the stock in a research note on Friday, September 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Campbell Soup from $46.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, August 25th. UBS Group lifted their price objective on shares of Campbell Soup to $45.00 in a research note on Monday, August 29th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Campbell Soup from $49.00 to $50.00 in a research note on Monday, August 22nd. Finally, StockNews.com cut shares of Campbell Soup from a “buy” rating to a “hold” rating in a research note on Saturday, November 19th. Three research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to MarketBeat, Campbell Soup currently has an average rating of “Hold” and an average price target of $47.90.
Campbell Soup Stock Performance
Campbell Soup (NYSE:CPB – Get Rating) last issued its quarterly earnings data on Thursday, September 1st. The company reported $0.56 earnings per share for the quarter, hitting the consensus estimate of $0.56. Campbell Soup had a net margin of 8.84% and a return on equity of 25.81%. The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter in the previous year, the firm posted $0.55 earnings per share. Campbell Soup’s revenue for the quarter was up 6.1% on a year-over-year basis. Sell-side analysts forecast that Campbell Soup will post 2.9 EPS for the current year.
Campbell Soup Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 30th. Investors of record on Thursday, January 5th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.76%. Campbell Soup’s dividend payout ratio is 59.20%.
Insider Buying and Selling
In related news, EVP Anthony Sanzio sold 3,600 shares of the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $47.35, for a total value of $170,460.00. Following the transaction, the executive vice president now owns 14,445 shares in the company, valued at $683,970.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. 21.05% of the stock is currently owned by insiders.
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.
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