Cornercap Investment Counsel Inc. Has $1.04 Million Stake in Campbell Soup (NYSE:CPB)

Cornercap Investment Counsel Inc. boosted its holdings in shares of Campbell Soup (NYSE:CPB) by 19.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,982 shares of the company’s stock after purchasing an additional 3,935 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Campbell Soup were worth $1,037,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Campbell Soup by 8.4% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 670,468 shares of the company’s stock valued at $28,984,000 after buying an additional 51,819 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in shares of Campbell Soup in the 4th quarter worth $514,000. Perigon Wealth Management LLC boosted its position in shares of Campbell Soup by 10.4% in the 4th quarter. Perigon Wealth Management LLC now owns 12,145 shares of the company’s stock worth $525,000 after purchasing an additional 1,145 shares during the last quarter. Valeo Financial Advisors LLC boosted its position in shares of Campbell Soup by 48.0% in the 4th quarter. Valeo Financial Advisors LLC now owns 10,746 shares of the company’s stock worth $465,000 after purchasing an additional 3,483 shares during the last quarter. Finally, Cerity Partners LLC boosted its position in shares of Campbell Soup by 326.8% in the 4th quarter. Cerity Partners LLC now owns 249,316 shares of the company’s stock worth $10,778,000 after purchasing an additional 190,901 shares during the last quarter. 52.35% of the stock is owned by institutional investors and hedge funds.

Campbell Soup Stock Performance

NYSE CPB opened at $42.69 on Tuesday. The company has a market capitalization of $12.73 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 2.77 and a beta of 0.24. Campbell Soup has a twelve month low of $37.94 and a twelve month high of $55.52. The stock has a fifty day simple moving average of $42.95 and a 200 day simple moving average of $42.31. The company has a quick ratio of 0.43, a current ratio of 1.01 and a debt-to-equity ratio of 1.17.

Campbell Soup (NYSE:CPB) last issued its quarterly earnings results on Wednesday, March 6th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. Campbell Soup had a return on equity of 23.18% and a net margin of 8.26%. The firm had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same period last year, the business posted $0.80 EPS. The business’s revenue was down 1.2% compared to the same quarter last year. Sell-side analysts expect that Campbell Soup will post 3.05 EPS for the current year.

Campbell Soup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 29th. Shareholders of record on Thursday, April 4th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 3.47%. Campbell Soup’s payout ratio is currently 57.81%.

Analyst Upgrades and Downgrades

CPB has been the topic of several recent analyst reports. Evercore ISI initiated coverage on Campbell Soup in a report on Wednesday, March 13th. They set an “in-line” rating and a $49.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on Campbell Soup from $47.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Piper Sandler reissued a “neutral” rating and issued a $47.00 price target on shares of Campbell Soup in a research note on Tuesday, March 26th. DA Davidson initiated coverage on Campbell Soup in a research note on Friday, March 1st. They issued a “buy” rating and a $48.00 price target on the stock. Finally, Citigroup initiated coverage on Campbell Soup in a research note on Thursday, February 1st. They issued a “sell” rating and a $41.00 price target on the stock. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Campbell Soup currently has a consensus rating of “Hold” and a consensus target price of $46.38.

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.