Savoir Faire Capital Management L.P. Trims Stake in Campbell Soup (NASDAQ:CPB)

Savoir Faire Capital Management L.P. reduced its stake in shares of Campbell Soup (NASDAQ:CPB) by 30.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 69,827 shares of the company’s stock after selling 31,173 shares during the quarter. Campbell Soup accounts for 1.7% of Savoir Faire Capital Management L.P.’s holdings, making the stock its 28th largest position. Savoir Faire Capital Management L.P.’s holdings in Campbell Soup were worth $3,416,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp increased its position in shares of Campbell Soup by 1.9% in the second quarter. Van ECK Associates Corp now owns 8,709,949 shares of the company’s stock valued at $393,603,000 after buying an additional 161,392 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Campbell Soup by 14.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,876,253 shares of the company’s stock valued at $129,971,000 after buying an additional 363,736 shares in the last quarter. LSV Asset Management increased its position in shares of Campbell Soup by 5,022.5% in the second quarter. LSV Asset Management now owns 2,438,300 shares of the company’s stock valued at $110,187,000 after buying an additional 2,390,700 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Campbell Soup by 88.2% in the third quarter. Victory Capital Management Inc. now owns 1,192,610 shares of the company’s stock valued at $58,342,000 after buying an additional 558,944 shares in the last quarter. Finally, Armistice Capital LLC increased its position in shares of Campbell Soup by 94.0% in the second quarter. Armistice Capital LLC now owns 1,067,914 shares of the company’s stock valued at $48,259,000 after buying an additional 517,550 shares in the last quarter. 52.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Sanford C. Bernstein upgraded Campbell Soup from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $55.00 to $58.00 in a research report on Monday, October 7th. JPMorgan Chase & Co. boosted their price target on Campbell Soup from $55.00 to $57.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 11th. Wells Fargo & Company boosted their price objective on Campbell Soup from $49.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 11th. Piper Sandler raised Campbell Soup from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $47.00 to $56.00 in a research note on Thursday, November 14th. Finally, StockNews.com raised Campbell Soup from a “sell” rating to a “hold” rating in a research note on Thursday, September 26th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $51.58.

Campbell Soup Stock Up 0.9 %

Shares of NASDAQ CPB opened at $43.52 on Tuesday. The stock has a market cap of $12.95 billion, a PE ratio of 23.04, a price-to-earnings-growth ratio of 2.57 and a beta of 0.19. The company has a quick ratio of 0.22, a current ratio of 0.61 and a debt-to-equity ratio of 1.52. Campbell Soup has a 52-week low of $39.65 and a 52-week high of $52.81. The business has a 50-day moving average price of $47.95 and a 200 day moving average price of $47.07.

Campbell Soup (NASDAQ:CPB) last posted its quarterly earnings results on Thursday, August 29th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.62 by $0.01. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Campbell Soup had a return on equity of 24.08% and a net margin of 5.88%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period last year, the firm earned $0.50 EPS. Equities research analysts forecast that Campbell Soup will post 3.2 earnings per share for the current year.

Campbell Soup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Thursday, October 3rd were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.40%. The ex-dividend date was Thursday, October 3rd. Campbell Soup’s payout ratio is 78.31%.

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.