Penn Mutual Asset Management LLC Invests $1.86 Million in Campbell Soup (NYSE:CPB)

Penn Mutual Asset Management LLC acquired a new position in shares of Campbell Soup (NYSE:CPB) in the 4th quarter, HoldingsChannel reports. The firm acquired 43,000 shares of the company’s stock, valued at approximately $1,859,000. Campbell Soup makes up approximately 1.4% of Penn Mutual Asset Management LLC’s portfolio, making the stock its 29th largest position.

Several other hedge funds also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV boosted its stake in Campbell Soup by 165.7% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the company’s stock valued at $28,000 after acquiring an additional 406 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Campbell Soup during the fourth quarter worth $31,000. Lindbrook Capital LLC raised its holdings in shares of Campbell Soup by 79.9% during the fourth quarter. Lindbrook Capital LLC now owns 1,011 shares of the company’s stock worth $44,000 after acquiring an additional 449 shares during the period. TFO Wealth Partners LLC raised its holdings in shares of Campbell Soup by 10,366.7% during the fourth quarter. TFO Wealth Partners LLC now owns 1,256 shares of the company’s stock worth $519,000 after acquiring an additional 1,244 shares during the period. Finally, Neo Ivy Capital Management acquired a new stake in shares of Campbell Soup during the third quarter worth $67,000. Institutional investors and hedge funds own 52.35% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. DA Davidson assumed coverage on shares of Campbell Soup in a report on Friday, March 1st. They set a “buy” rating and a $48.00 price objective on the stock. Piper Sandler restated a “neutral” rating and set a $47.00 price objective on shares of Campbell Soup in a report on Tuesday, March 26th. Evercore ISI assumed coverage on shares of Campbell Soup in a research note on Wednesday, March 13th. They issued an “in-line” rating and a $49.00 price target on the stock. Wells Fargo & Company lifted their price target on shares of Campbell Soup from $45.00 to $47.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $47.00 price target on shares of Campbell Soup in a research note on Friday. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $46.25.

Campbell Soup Price Performance

Shares of NYSE:CPB traded down $0.67 during midday trading on Friday, hitting $42.86. The stock had a trading volume of 3,051,841 shares, compared to its average volume of 2,532,165. The company’s 50-day moving average price is $44.67 and its 200-day moving average price is $43.59. The company has a market capitalization of $12.80 billion, a P/E ratio of 17.35, a price-to-earnings-growth ratio of 2.65 and a beta of 0.19. The company has a quick ratio of 0.43, a current ratio of 0.62 and a debt-to-equity ratio of 1.47. Campbell Soup has a fifty-two week low of $37.94 and a fifty-two week high of $46.97.

Campbell Soup (NYSE:CPB) last issued its earnings results on Wednesday, June 5th. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.70 by $0.05. The company had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.34 billion. Campbell Soup had a net margin of 7.85% and a return on equity of 23.26%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.68 EPS. As a group, equities research analysts predict that Campbell Soup will post 3.08 EPS for the current fiscal year.

Campbell Soup Announces Dividend

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 given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend is Wednesday, July 3rd. Campbell Soup’s dividend payout ratio is 59.92%.

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.