Allspring Global Investments Holdings LLC Sells 277,543 Shares of Campbell Soup (NASDAQ:CPB)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Campbell Soup (NASDAQ:CPB - Free Report) by 39.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 417,713 shares of the company's stock after selling 277,543 shares during the period. Allspring Global Investments Holdings LLC owned about 0.14% of Campbell Soup worth $20,435,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. nVerses Capital LLC purchased a new position in shares of Campbell Soup in the third quarter worth $34,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Campbell Soup in the second quarter valued at about $32,000. Larson Financial Group LLC raised its stake in shares of Campbell Soup by 3,760.9% during the first quarter. Larson Financial Group LLC now owns 888 shares of the company's stock valued at $39,000 after acquiring an additional 865 shares during the last quarter. TruNorth Capital Management LLC purchased a new stake in shares of Campbell Soup during the second quarter worth about $44,000. Finally, Rothschild Investment LLC bought a new stake in shares of Campbell Soup in the second quarter worth about $44,000. 52.35% of the stock is owned by institutional investors.

Campbell Soup Stock Up 0.2 %

CPB traded up $0.08 during midday trading on Friday, reaching $47.07. The company's stock had a trading volume of 1,139,351 shares, compared to its average volume of 2,554,658. The stock's 50-day moving average is $49.44 and its 200-day moving average is $46.86. Campbell Soup has a 1 year low of $39.65 and a 1 year high of $52.81. The firm has a market capitalization of $14.05 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 2.83 and a beta of 0.18. 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 (NASDAQ:CPB - Get Free Report) last posted its quarterly earnings results on Thursday, August 29th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $2.31 billion. During the same quarter in the prior year, the business posted $0.50 EPS. The firm's quarterly revenue was up 10.9% compared to the same quarter last year. As a group, research analysts expect that Campbell Soup will post 3.2 EPS for the current year.

Campbell Soup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Thursday, October 3rd will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend is Thursday, October 3rd. Campbell Soup's dividend payout ratio (DPR) is 59.92%.

Analysts Set New Price Targets

A number of research firms have commented on CPB. TD Cowen upped their price target on Campbell Soup from $47.00 to $51.00 and gave the company a "hold" rating in a research report on Thursday, September 12th. DA Davidson downgraded Campbell Soup from a "buy" rating to a "neutral" rating and set a $51.00 target price for the company. in a report on Friday, September 27th. Sanford C. Bernstein raised Campbell Soup from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $55.00 to $58.00 in a research note on Monday, October 7th. StockNews.com raised shares of Campbell Soup from a "sell" rating to a "hold" rating in a research report on Thursday, September 26th. Finally, Royal Bank of Canada raised their target price on shares of Campbell Soup from $47.00 to $51.00 and gave the stock a "sector perform" rating in a research report on Friday, September 13th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, Campbell Soup currently has a consensus rating of "Hold" and an average price target of $50.83.

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.