First Horizon Advisors Inc. Has $7.11 Million Position in Campbell Soup (NYSE:CPB)

First Horizon Advisors Inc. trimmed its holdings in shares of Campbell Soup (NYSE:CPB) by 4.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 164,383 shares of the company’s stock after selling 7,889 shares during the period. First Horizon Advisors Inc. owned about 0.05% of Campbell Soup worth $7,106,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Asset Management One Co. Ltd. grew its stake in Campbell Soup by 13.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 305,969 shares of the company’s stock valued at $13,154,000 after purchasing an additional 36,108 shares in the last quarter. Cerity Partners LLC raised its position in Campbell Soup by 326.8% during the fourth quarter. Cerity Partners LLC now owns 249,316 shares of the company’s stock worth $10,778,000 after acquiring an additional 190,901 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Campbell Soup by 7.2% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 213,155 shares of the company’s stock worth $8,756,000 after acquiring an additional 14,271 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Campbell Soup by 8.4% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 670,468 shares of the company’s stock valued at $28,984,000 after acquiring an additional 51,819 shares during the last quarter. Finally, Washington Capital Management Inc. grew its position in shares of Campbell Soup by 126.2% in the 4th quarter. Washington Capital Management Inc. now owns 24,725 shares of the company’s stock valued at $1,069,000 after acquiring an additional 13,795 shares during the period. Institutional investors own 52.35% of the company’s stock.

Campbell Soup Price Performance

Shares of CPB traded down $1.01 during trading hours on Friday, hitting $44.88. 2,759,271 shares of the company were exchanged, compared to its average volume of 2,713,373. The company has a market cap of $13.38 billion, a price-to-earnings ratio of 17.93, a P/E/G ratio of 2.97 and a beta of 0.23. The firm’s fifty day moving average is $43.60 and its 200 day moving average is $42.73. Campbell Soup has a fifty-two week low of $37.94 and a fifty-two week high of $55.04. 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 announced its quarterly earnings data on Wednesday, March 6th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. Campbell Soup had a net margin of 8.26% and a return on equity of 23.18%. The firm had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the prior year, the company posted $0.80 earnings per share. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, equities analysts anticipate that Campbell Soup will post 3.05 earnings per share for the current fiscal year.

Campbell Soup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 29th. Investors of record on Thursday, April 4th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Wednesday, April 3rd. This represents a $1.48 annualized dividend and a dividend yield of 3.30%. Campbell Soup’s dividend payout ratio is currently 57.81%.

Wall Street Analysts Forecast Growth

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

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.