Campbell Soup (NASDAQ:CPB) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in shares of Campbell Soup (NASDAQ:CPB) by 67.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 137,615 shares of the company’s stock after selling 279,981 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Campbell Soup were worth $6,732,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Janus Henderson Group PLC lifted its holdings in shares of Campbell Soup by 11.3% in the 1st quarter. Janus Henderson Group PLC now owns 90,699 shares of the company’s stock worth $4,031,000 after purchasing an additional 9,237 shares during the last quarter. Tidal Investments LLC boosted its holdings in shares of Campbell Soup by 12.8% during the first quarter. Tidal Investments LLC now owns 18,505 shares of the company’s stock valued at $822,000 after acquiring an additional 2,096 shares during the period. Cetera Advisors LLC grew its position in shares of Campbell Soup by 7.3% during the first quarter. Cetera Advisors LLC now owns 13,120 shares of the company’s stock worth $583,000 after acquiring an additional 887 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Campbell Soup by 117.7% in the 2nd quarter. GAMMA Investing LLC now owns 9,752 shares of the company’s stock worth $441,000 after acquiring an additional 5,273 shares during the period. Finally, DNB Asset Management AS lifted its position in Campbell Soup by 19.6% in the 2nd quarter. DNB Asset Management AS now owns 41,354 shares of the company’s stock valued at $1,869,000 after purchasing an additional 6,782 shares during the last quarter. 52.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CPB has been the subject of several recent analyst reports. Piper Sandler upgraded shares of Campbell Soup from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $47.00 to $56.00 in a research report on Thursday, November 14th. Stifel Nicolaus reissued a “hold” rating and issued a $45.00 price objective on shares of Campbell Soup in a report on Tuesday, August 27th. DA Davidson downgraded Campbell Soup from a “buy” rating to a “neutral” rating and set a $51.00 target price on the stock. in a research note on Friday, September 27th. Sanford C. Bernstein raised Campbell Soup from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $55.00 to $58.00 in a research note on Monday, October 7th. Finally, TD Cowen raised their price target on Campbell Soup from $47.00 to $51.00 and gave the company a “hold” rating in a report on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Campbell Soup has an average rating of “Hold” and an average target price of $51.58.

Campbell Soup Stock Performance

NASDAQ:CPB opened at $46.20 on Monday. The company has a current ratio of 0.61, a quick ratio of 0.22 and a debt-to-equity ratio of 1.52. The company has a 50-day moving average of $46.80 and a 200-day moving average of $47.04. Campbell Soup has a twelve month low of $39.65 and a twelve month high of $52.81. The firm has a market cap of $13.75 billion, a price-to-earnings ratio of 24.44, a price-to-earnings-growth ratio of 2.66 and a beta of 0.19.

Campbell Soup (NASDAQ:CPB) last posted its quarterly earnings results on Thursday, August 29th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.01. Campbell Soup had a net margin of 5.88% and a return on equity of 24.08%. 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 previous year, the business posted $0.50 earnings per share. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. Analysts forecast that Campbell Soup will post 3.2 earnings per share for the current fiscal year.

Campbell Soup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Thursday, October 3rd were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend was Thursday, October 3rd. Campbell Soup’s dividend payout ratio (DPR) 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.