Dai ichi Life Insurance Company Ltd Reduces Stock Position in Campbell Soup (NASDAQ:CPB)

Dai ichi Life Insurance Company Ltd cut its stake in Campbell Soup (NASDAQ:CPB) by 15.8% in the third quarter, Holdings Channel.com reports. The firm owned 143,186 shares of the company’s stock after selling 26,942 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Campbell Soup were worth $7,005,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Blair William & Co. IL grew its position in Campbell Soup by 0.5% in the second quarter. Blair William & Co. IL now owns 43,869 shares of the company’s stock worth $1,982,000 after acquiring an additional 218 shares during the period. Brown Lisle Cummings Inc. grew its position in Campbell Soup by 1.3% in the third quarter. Brown Lisle Cummings Inc. now owns 20,147 shares of the company’s stock worth $986,000 after acquiring an additional 254 shares during the period. Diversified Trust Co grew its position in Campbell Soup by 0.3% in the third quarter. Diversified Trust Co now owns 87,845 shares of the company’s stock worth $4,297,000 after acquiring an additional 283 shares during the period. V Square Quantitative Management LLC grew its position in Campbell Soup by 4.0% in the third quarter. V Square Quantitative Management LLC now owns 7,538 shares of the company’s stock worth $369,000 after acquiring an additional 287 shares during the period. Finally, Creative Financial Designs Inc. ADV grew its position in Campbell Soup by 7.4% in the third quarter. Creative Financial Designs Inc. ADV now owns 4,225 shares of the company’s stock worth $207,000 after acquiring an additional 290 shares during the period. 52.35% of the stock is currently owned by hedge funds and other institutional investors.

Campbell Soup Stock Up 1.5 %

Shares of NASDAQ CPB opened at $46.60 on Wednesday. The stock has a market cap of $13.87 billion, a P/E ratio of 24.66, a PEG ratio of 2.60 and a beta of 0.19. 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 has a 12-month low of $39.65 and a 12-month high of $52.81. The business’s fifty day simple moving average is $47.19 and its 200-day simple moving average is $47.03.

Campbell Soup (NASDAQ:CPB) last posted its quarterly earnings results on Thursday, August 29th. The company reported $0.63 earnings per share 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 for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period last year, the firm earned $0.50 earnings per share. Campbell Soup’s quarterly revenue was up 10.9% on a year-over-year basis. As a group, equities analysts predict that Campbell Soup will post 3.2 EPS for the current fiscal year.

Campbell Soup Announces Dividend

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

Analysts Set New Price Targets

Several brokerages recently weighed in on CPB. Barclays increased their price objective on Campbell Soup from $45.00 to $49.00 and gave the stock an “underweight” rating in a research report on Thursday, September 12th. DA Davidson cut Campbell Soup from a “buy” rating to a “neutral” rating and set a $51.00 price target on the stock. in a research note on Friday, September 27th. Piper Sandler upgraded Campbell Soup from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $47.00 to $56.00 in a research note on Thursday, November 14th. JPMorgan Chase & Co. upped their price target on Campbell Soup from $55.00 to $57.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 11th. Finally, Argus upgraded Campbell Soup from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Friday, September 20th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $51.58.

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.