Beacon Pointe Advisors LLC Raises Stake in Campbell Soup (NYSE:CPB) (2024)

Posted by Defense World Staff on May 24th, 2024

Beacon Pointe Advisors LLC lifted its position in shares of Campbell Soup (NYSE:CPB – Free Report) by 5.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 12,180 shares of the company’s stock after buying an additional 636 shares during the period. Beacon Pointe Advisors LLC’s holdings in Campbell Soup were worth $527,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CPB. Allworth Financial LP increased its position in Campbell Soup by 110.0% during the third quarter. Allworth Financial LP now owns 819 shares of the company’s stock worth $34,000 after purchasing an additional 429 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of Campbell Soup by 3.4% in the third quarter. Daiwa Securities Group Inc. now owns 16,761 shares of the company’s stock worth $689,000 after acquiring an additional 552 shares in the last quarter. M&T Bank Corp boosted its position in Campbell Soup by 8.6% during the 3rd quarter. M&T Bank Corp now owns 26,675 shares of the company’s stock worth $1,095,000 after purchasing an additional 2,109 shares during the period. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Campbell Soup in the 3rd quarter valued at $231,000. Finally, Signaturefd LLC raised its position in Campbell Soup by 28.3% in the third quarter. Signaturefd LLC now owns 12,215 shares of the company’s stock valued at $502,000 after purchasing an additional 2,697 shares during the period. Institutional investors and hedge funds own 52.35% of the company’s stock.

Campbell Soup Stock Performance

CPB stock opened at $45.64 on Friday. Campbell Soup has a 1 year low of $37.94 and a 1 year high of $52.12. The stock has a market capitalization of $13.61 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 2.98 and a beta of 0.23. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.43 and a current ratio of 1.01. The stock’s fifty day moving average is $44.55 and its two-hundred day moving average is $43.31.

Campbell Soup (NYSE:CPB – Get Free Report) last issued its quarterly earnings data on Wednesday, March 6th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate 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 last year, the firm posted $0.80 EPS. Campbell Soup’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, research analysts predict that Campbell Soup will post 3.05 EPS for the current year.

Campbell Soup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Wednesday, July 3rd will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend is Wednesday, July 3rd. Campbell Soup’s dividend payout ratio is currently 57.81%.

Analyst Upgrades and Downgrades

CPB has been the topic of several recent research reports. Sanford C. Bernstein raised Campbell Soup from an “underperform” rating to a “market perform” rating and boosted their price target for the stock from $42.00 to $46.00 in a research report on Wednesday, May 15th. DA Davidson initiated coverage on Campbell Soup in a research note on Friday, March 1st. They set a “buy” rating and a $48.00 target price for the company. Evercore ISI initiated coverage on Campbell Soup in a research note on Wednesday, March 13th. They set an “in-line” rating and a $49.00 price objective for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $47.00 target price on shares of Campbell Soup in a research report on Thursday, March 14th. Finally, Piper Sandler reissued a “neutral” rating and set a $47.00 price target on shares of Campbell Soup in a research report on Tuesday, March 26th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Campbell Soup has a consensus rating of “Hold” and a consensus price target of $46.41.

View Our Latest Stock Analysis on Campbell Soup

About Campbell Soup

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