Campbell Soup (NASDAQ:CPB) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its position in Campbell Soup (NASDAQ:CPB - Free Report) by 6.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 278,607 shares of the company's stock after purchasing an additional 17,663 shares during the period. Principal Financial Group Inc. owned 0.09% of Campbell Soup worth $13,629,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Van ECK Associates Corp boosted its stake in shares of Campbell Soup by 1.9% during the second quarter. Van ECK Associates Corp now owns 8,709,949 shares of the company's stock valued at $393,603,000 after purchasing an additional 161,392 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Campbell Soup by 14.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,876,253 shares of the company's stock valued at $129,971,000 after acquiring an additional 363,736 shares in the last quarter. LSV Asset Management increased its holdings in shares of Campbell Soup by 5,022.5% in the 2nd quarter. LSV Asset Management now owns 2,438,300 shares of the company's stock valued at $110,187,000 after acquiring an additional 2,390,700 shares during the period. Armistice Capital LLC raised its position in shares of Campbell Soup by 94.0% in the 2nd quarter. Armistice Capital LLC now owns 1,067,914 shares of the company's stock worth $48,259,000 after acquiring an additional 517,550 shares in the last quarter. Finally, TD Asset Management Inc raised its position in shares of Campbell Soup by 15.5% in the 2nd quarter. TD Asset Management Inc now owns 986,109 shares of the company's stock worth $44,562,000 after acquiring an additional 132,453 shares in the last quarter. 52.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CPB has been the topic of several analyst reports. 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. Sanford C. Bernstein raised shares of Campbell Soup from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $55.00 to $58.00 in a research report on Monday, October 7th. Barclays increased their target price on shares of Campbell Soup from $45.00 to $49.00 and gave the company an "underweight" rating in a research report on Thursday, September 12th. Argus raised shares of Campbell Soup from a "hold" rating to a "buy" rating and set a $59.00 price target on the stock in a report on Friday, September 20th. Finally, DA Davidson lowered Campbell Soup from a "buy" rating to a "neutral" rating and set a $51.00 price objective for the company. in a report on Friday, September 27th. Two investment 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 stock currently has an average rating of "Hold" and an average price target of $51.58.

Campbell Soup Stock Performance

Campbell Soup stock traded down $1.30 during trading hours on Friday, hitting $43.15. 4,313,575 shares of the stock traded hands, compared to its average volume of 1,838,653. Campbell Soup has a 1 year low of $39.65 and a 1 year high of $52.81. The stock has a market capitalization of $12.84 billion, a price-to-earnings ratio of 22.83, a P/E/G ratio of 2.57 and a beta of 0.19. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.61 and a quick ratio of 0.22. The firm's 50 day moving average price is $47.95 and its 200-day moving average price is $47.05.

Campbell Soup (NASDAQ:CPB - Get Free Report) last issued its earnings results on Thursday, August 29th. The company reported $0.63 EPS 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 firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the prior year, the firm earned $0.50 earnings per share. Campbell Soup's revenue for the quarter was up 10.9% on a year-over-year basis. As a group, equities analysts expect that Campbell Soup will post 3.2 EPS for the current fiscal year.

Campbell Soup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Thursday, October 3rd were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 3.43%. Campbell Soup's dividend payout ratio is presently 78.31%.

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.