Janney Montgomery Scott LLC Has $895,000 Holdings in Campbell Soup (NYSE:CPB) (2024)

Posted by ABMN Staff on May 31st, 2024

Janney Montgomery Scott LLC lessened its holdings in shares of Campbell Soup (NYSE:CPB – Free Report) by 11.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,691 shares of the company’s stock after selling 2,632 shares during the period. Janney Montgomery Scott LLC’s holdings in Campbell Soup were worth $895,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CPB. Van ECK Associates Corp grew its position in shares of Campbell Soup by 97.2% during the 4th quarter. Van ECK Associates Corp now owns 7,329,256 shares of the company’s stock worth $316,844,000 after purchasing an additional 3,613,495 shares in the last quarter. Deutsche Bank AG grew its position in shares of Campbell Soup by 62.3% during the 3rd quarter. Deutsche Bank AG now owns 1,453,612 shares of the company’s stock worth $59,714,000 after purchasing an additional 557,948 shares in the last quarter. Invesco Ltd. grew its position in shares of Campbell Soup by 6.8% during the 3rd quarter. Invesco Ltd. now owns 5,035,674 shares of the company’s stock worth $206,865,000 after purchasing an additional 318,983 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Campbell Soup by 78.6% during the 3rd quarter. Victory Capital Management Inc. now owns 545,542 shares of the company’s stock worth $22,411,000 after acquiring an additional 240,123 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Campbell Soup by 24.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,003,514 shares of the company’s stock worth $43,382,000 after acquiring an additional 196,448 shares in the last quarter. Institutional investors and hedge funds own 52.35% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on CPB shares. Piper Sandler reiterated a “neutral” rating and set a $47.00 price target on shares of Campbell Soup in a research report on Tuesday, March 26th. Sanford C. Bernstein upgraded shares of Campbell Soup from an “underperform” rating to a “market perform” rating and increased their price target for the stock from $42.00 to $46.00 in a research report on Wednesday, May 15th. DA Davidson started coverage on shares of Campbell Soup in a research report on Friday, March 1st. They set a “buy” rating and a $48.00 price target on the stock. Evercore ISI started coverage on shares of Campbell Soup in a research report on Wednesday, March 13th. They set an “in-line” rating and a $49.00 price target on the stock. Finally, Citigroup increased their price target on shares of Campbell Soup from $41.00 to $42.00 and gave the stock a “sell” rating in a research report on Thursday, May 23rd. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $46.41.

Check Out Our Latest Analysis on CPB

Campbell Soup Price Performance

CPB stock opened at $43.58 on Friday. The company has a fifty day moving average price of $44.66 and a 200-day moving average price of $43.44. The company has a market capitalization of $12.99 billion, a P/E ratio of 17.02, a PEG ratio of 2.87 and a beta of 0.23. Campbell Soup has a 52-week low of $37.94 and a 52-week high of $52.12. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.43 and a current ratio of 1.01.

Campbell Soup (NYSE:CPB – Get Free Report) last released its quarterly earnings results on Wednesday, March 6th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. The firm had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.44 billion. Campbell Soup had a net margin of 8.26% and a return on equity of 23.18%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.80 earnings per share. As a group, equities analysts expect that Campbell Soup will post 3.05 EPS for the current year.

Campbell Soup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 29th. Stockholders of record on Wednesday, July 3rd will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.40%. The ex-dividend date is Wednesday, July 3rd. Campbell Soup’s payout ratio is currently 57.81%.