MN Wealth Advisors LLC Buys Shares of 19,224 Campbell Soup (NASDAQ:CPB)

MN Wealth Advisors LLC bought a new stake in shares of Campbell Soup (NASDAQ:CPB) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 19,224 shares of the company’s stock, valued at approximately $940,000.

Several other hedge funds have also bought and sold shares of the stock. Van ECK Associates Corp lifted its position in 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 during the last quarter. Dimensional Fund Advisors LP lifted its position in Campbell Soup by 14.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,876,253 shares of the company’s stock valued at $129,971,000 after purchasing an additional 363,736 shares during the last quarter. LSV Asset Management lifted its position in Campbell Soup by 5,022.5% during the second quarter. LSV Asset Management now owns 2,438,300 shares of the company’s stock valued at $110,187,000 after purchasing an additional 2,390,700 shares during the last quarter. Nordea Investment Management AB lifted its position in Campbell Soup by 7.3% during the first quarter. Nordea Investment Management AB now owns 1,246,867 shares of the company’s stock valued at $55,554,000 after purchasing an additional 85,099 shares during the last quarter. Finally, Armistice Capital LLC lifted its position in Campbell Soup by 94.0% during the second quarter. Armistice Capital LLC now owns 1,067,914 shares of the company’s stock valued at $48,259,000 after purchasing an additional 517,550 shares during the last quarter. 52.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CPB shares. Sanford C. Bernstein raised shares of Campbell Soup from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $55.00 to $58.00 in a research note on Monday, October 7th. TD Cowen upped their price target on shares of Campbell Soup from $47.00 to $51.00 and gave the stock a “hold” rating in a research note on Thursday, September 12th. Argus upgraded shares of Campbell Soup from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Friday, September 20th. Royal Bank of Canada upped their price target on shares of Campbell Soup from $47.00 to $51.00 and gave the stock a “sector perform” rating in a research note on Friday, September 13th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $45.00 price target on shares of Campbell Soup in a research note on Tuesday, August 27th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Campbell Soup currently has a consensus rating of “Hold” and a consensus target price of $50.83.

Campbell Soup Stock Performance

CPB stock opened at $48.36 on Wednesday. The company has a quick ratio of 0.22, a current ratio of 0.61 and a debt-to-equity ratio of 1.52. The business’s fifty day simple moving average is $49.61 and its two-hundred day simple moving average is $46.71. Campbell Soup has a twelve month low of $39.48 and a twelve month high of $52.81. The firm has a market cap of $14.44 billion, a price-to-earnings ratio of 19.58, a PEG ratio of 2.83 and a beta of 0.18.

Campbell Soup (NASDAQ:CPB) last released its earnings results on Thursday, August 29th. The company reported $0.63 earnings per share for the quarter, topping 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 business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter last year, the firm posted $0.50 earnings per share. The business’s revenue was up 10.9% compared to the same quarter last year. Analysts predict that Campbell Soup will post 3.2 earnings per share for the current year.

Campbell Soup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Thursday, October 3rd will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.48 annualized dividend and a dividend yield of 3.06%. Campbell Soup’s dividend payout ratio is currently 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.