Short Interest in Campbell Soup (NYSE:CPB) Rises By 16.6%

Campbell Soup (NYSE:CPB) was the recipient of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 17,180,000 shares, a growth of 16.6% from the March 15th total of 14,740,000 shares. Based on an average daily trading volume, of 2,790,000 shares, the short-interest ratio is presently 6.2 days. Approximately 8.7% of the company’s shares are sold short.

Hedge Funds Weigh In On Campbell Soup

A number of institutional investors have recently modified their holdings of CPB. Raymond James Financial Services Advisors Inc. grew its position in shares of Campbell Soup by 29.8% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 29,150 shares of the company’s stock worth $1,299,000 after buying an additional 6,692 shares in the last quarter. HighTower Advisors LLC increased its holdings in Campbell Soup by 60.0% during the first quarter. HighTower Advisors LLC now owns 20,855 shares of the company’s stock valued at $932,000 after buying an additional 7,819 shares during the period. Cetera Advisor Networks LLC increased its holdings in Campbell Soup by 31.3% during the first quarter. Cetera Advisor Networks LLC now owns 11,020 shares of the company’s stock valued at $491,000 after buying an additional 2,628 shares during the period. MetLife Investment Management LLC raised its stake in Campbell Soup by 22.7% in the first quarter. MetLife Investment Management LLC now owns 54,864 shares of the company’s stock worth $2,445,000 after buying an additional 10,144 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in Campbell Soup by 6.8% during the first quarter. Rhumbline Advisers now owns 319,394 shares of the company’s stock worth $14,235,000 after buying an additional 20,335 shares during the period. 52.35% of the stock is owned by hedge funds and other institutional investors.

Campbell Soup Stock Performance

CPB traded up $0.32 during midday trading on Tuesday, reaching $43.01. The company had a trading volume of 2,582,180 shares, compared to its average volume of 2,753,826. The company has a quick ratio of 0.43, a current ratio of 1.01 and a debt-to-equity ratio of 1.17. Campbell Soup has a 1 year low of $37.94 and a 1 year high of $55.52. The business has a 50-day moving average of $42.92 and a two-hundred day moving average of $42.32. The company has a market cap of $12.82 billion, a P/E ratio of 16.80, a P/E/G ratio of 2.77 and a beta of 0.24.

Campbell Soup (NYSE:CPB) last released its earnings results on Wednesday, March 6th. The company reported $0.80 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter last year, the business earned $0.80 EPS. The business’s revenue was down 1.2% on a year-over-year basis. As a group, equities research analysts predict that Campbell Soup will post 3.05 earnings per share for the current fiscal year.

Campbell Soup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 29th. Investors of record on Thursday, April 4th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend is Wednesday, April 3rd. Campbell Soup’s dividend payout ratio is presently 57.81%.

Analyst Ratings Changes

Several research firms recently weighed in on CPB. TheStreet upgraded shares of Campbell Soup from a “c+” rating to a “b-” rating in a report on Wednesday, January 3rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $47.00 price target on shares of Campbell Soup in a research note on Thursday, March 14th. JPMorgan Chase & Co. upped their target price on Campbell Soup from $47.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. DA Davidson started coverage on Campbell Soup in a research report on Friday, March 1st. They issued a “buy” rating and a $48.00 target price for the company. Finally, Piper Sandler restated a “neutral” rating and set a $47.00 price target on shares of Campbell Soup in a research report on Tuesday, March 26th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $46.38.

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.