The Campbell Soup Company (NASDAQ:CPB) Shares Sold by Weaver Capital Management LLC

Weaver Capital Management LLC reduced its holdings in shares of The Campbell Soup Company (NASDAQ:CPB) by 3.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,358 shares of the company’s stock after selling 371 shares during the period. Weaver Capital Management LLC’s holdings in Campbell Soup were worth $434,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CPB. State Street Corp raised its position in shares of Campbell Soup by 3.1% during the 3rd quarter. State Street Corp now owns 10,048,679 shares of the company’s stock valued at $491,581,000 after acquiring an additional 298,203 shares in the last quarter. Geode Capital Management LLC raised its stake in Campbell Soup by 6.5% during the third quarter. Geode Capital Management LLC now owns 5,265,615 shares of the company’s stock worth $256,827,000 after acquiring an additional 322,951 shares during the period. Franklin Resources Inc. raised its stake in Campbell Soup by 1,593.8% during the third quarter. Franklin Resources Inc. now owns 1,904,440 shares of the company’s stock worth $91,623,000 after acquiring an additional 1,792,005 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Campbell Soup by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,765,632 shares of the company’s stock worth $86,375,000 after acquiring an additional 12,822 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in 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 acquiring an additional 558,944 shares during the period. Institutional investors and hedge funds own 52.35% of the company’s stock.

Insider Activity

In other news, EVP Anthony Sanzio sold 2,000 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $41.90, for a total transaction of $83,800.00. Following the transaction, the executive vice president now owns 16,551 shares of the company’s stock, valued at approximately $693,486.90. This represents a 10.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 20.19% of the stock is currently owned by corporate insiders.

Campbell Soup Stock Down 1.8 %

NASDAQ CPB opened at $37.45 on Wednesday. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.91 and a quick ratio of 0.50. The company has a market capitalization of $11.16 billion, a P/E ratio of 20.46, a PEG ratio of 2.67 and a beta of 0.19. The Campbell Soup Company has a 12 month low of $37.16 and a 12 month high of $52.81. The company’s 50 day simple moving average is $41.16 and its 200 day simple moving average is $45.67.

Campbell Soup (NASDAQ:CPB) last announced its quarterly earnings data on Tuesday, December 3rd. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.02. Campbell Soup had a return on equity of 23.79% and a net margin of 5.57%. Equities research analysts expect that The Campbell Soup Company will post 3.15 earnings per share for the current fiscal year.

Campbell Soup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Thursday, January 2nd were given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 4.17%. The ex-dividend date was Thursday, January 2nd. This is a boost from Campbell Soup’s previous quarterly dividend of $0.37. Campbell Soup’s dividend payout ratio (DPR) is 85.25%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CPB. Piper Sandler upgraded Campbell Soup from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $47.00 to $56.00 in a research report on Thursday, November 14th. Wells Fargo & Company dropped their target price on Campbell Soup from $45.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. DA Davidson reissued a “neutral” rating and set a $51.00 price target on shares of Campbell Soup in a report on Wednesday, December 4th. Stephens reaffirmed an “overweight” rating on shares of Campbell Soup in a report on Wednesday, December 4th. Finally, Citigroup reduced their target price on shares of Campbell Soup from $44.00 to $41.00 and set a “sell” rating for the company in a research note on Thursday, December 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Campbell Soup presently has an average rating of “Hold” and a consensus target price of $50.17.

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.