Retirement Systems of Alabama Decreases Stock Position in Campbell Soup (NASDAQ:CPB)

Retirement Systems of Alabama lessened its holdings in shares of Campbell Soup (NASDAQ:CPB) by 2.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,476 shares of the company’s stock after selling 925 shares during the quarter. Retirement Systems of Alabama’s holdings in Campbell Soup were worth $2,078,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. LSV Asset Management raised its stake in Campbell Soup by 5,022.5% during the second quarter. LSV Asset Management now owns 2,438,300 shares of the company’s stock valued at $110,187,000 after buying an additional 2,390,700 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Campbell Soup by 1,593.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,904,440 shares of the company’s stock valued at $91,623,000 after acquiring an additional 1,792,005 shares in the last quarter. Wulff Hansen & CO. raised its position in shares of Campbell Soup by 4,419.0% during the 2nd quarter. Wulff Hansen & CO. now owns 732,530 shares of the company’s stock valued at $33,103,000 after acquiring an additional 716,320 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Campbell Soup by 88.2% during the third quarter. Victory Capital Management Inc. now owns 1,192,610 shares of the company’s stock worth $58,342,000 after purchasing an additional 558,944 shares during the last quarter. Finally, Armistice Capital LLC boosted its holdings in Campbell Soup by 94.0% in the second quarter. Armistice Capital LLC now owns 1,067,914 shares of the company’s stock worth $48,259,000 after purchasing an additional 517,550 shares during the period. 52.35% of the stock is currently owned by hedge funds and other institutional investors.

Campbell Soup Price Performance

Shares of CPB opened at $41.50 on Friday. The firm has a market capitalization of $12.37 billion, a price-to-earnings ratio of 22.68, a price-to-earnings-growth ratio of 2.96 and a beta of 0.18. The stock’s fifty day moving average is $45.20 and its 200-day moving average is $46.79. Campbell Soup has a one year low of $40.26 and a one year high of $52.81. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.50 and a current ratio of 0.91.

Campbell Soup Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Thursday, January 2nd will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.76%. This is an increase from Campbell Soup’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Thursday, January 2nd. Campbell Soup’s payout ratio is 85.25%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Barclays reduced their price target on shares of Campbell Soup from $49.00 to $46.00 and set an “underweight” rating on the stock in a research report on Friday, December 6th. Piper Sandler upgraded Campbell Soup from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $47.00 to $56.00 in a research note on Thursday, November 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $51.00 target price on shares of Campbell Soup in a report on Monday, December 2nd. Stifel Nicolaus cut their price target on Campbell Soup from $50.00 to $47.00 and set a “hold” rating on the stock in a report on Thursday, December 5th. Finally, StockNews.com upgraded Campbell Soup from a “sell” rating to a “hold” rating in a research note on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $50.92.

Campbell Soup Company 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.