Golden State Wealth Management LLC Invests $67,000 in The Campbell Soup Company (NASDAQ:CPB)

Golden State Wealth Management LLC bought a new position in shares of The Campbell Soup Company (NASDAQ:CPB) during the 4th quarter, Holdings Channel reports. The institutional investor bought 1,600 shares of the company’s stock, valued at approximately $67,000.

Several other institutional investors have also recently added to or reduced their stakes in CPB. State Street Corp increased its holdings in shares of Campbell Soup by 3.1% in 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 during the period. Geode Capital Management LLC grew its position in Campbell Soup by 6.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,265,615 shares of the company’s stock worth $256,827,000 after purchasing an additional 322,951 shares during the last quarter. Franklin Resources Inc. increased its stake in Campbell Soup by 1,593.8% in the third quarter. Franklin Resources Inc. now owns 1,904,440 shares of the company’s stock valued at $91,623,000 after purchasing an additional 1,792,005 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 valued at $86,375,000 after buying an additional 12,822 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Campbell Soup by 88.2% during the third quarter. Victory Capital Management Inc. now owns 1,192,610 shares of the company’s stock worth $58,342,000 after buying an additional 558,944 shares during the last quarter. Hedge funds and other institutional investors own 52.35% of the company’s stock.

Wall Street Analyst Weigh In

CPB has been the subject of a number of analyst reports. Barclays cut their price objective on shares of Campbell Soup from $49.00 to $46.00 and set an “underweight” rating for the company in a research report on Friday, December 6th. Royal Bank of Canada reissued a “sector perform” rating and set a $51.00 price target on shares of Campbell Soup in a report on Monday, December 2nd. Citigroup lowered their price objective on Campbell Soup from $44.00 to $41.00 and set a “sell” rating on the stock in a report on Thursday, December 5th. Wells Fargo & Company cut their target price on Campbell Soup from $45.00 to $43.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Finally, DA Davidson restated a “neutral” rating and issued a $51.00 price target on shares of Campbell Soup in a research note on Wednesday, December 4th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Campbell Soup presently has an average rating of “Hold” and a consensus price target of $50.17.

Campbell Soup Stock Down 0.4 %

Shares of NASDAQ CPB opened at $37.39 on Tuesday. The firm has a market cap of $11.15 billion, a P/E ratio of 20.43, a price-to-earnings-growth ratio of 2.59 and a beta of 0.19. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.50 and a current ratio of 0.91. The Campbell Soup Company has a 1 year low of $36.92 and a 1 year high of $52.81. The firm’s 50 day moving average price is $40.47 and its 200 day moving average price is $45.43.

Campbell Soup (NASDAQ:CPB) last released its earnings results on Tuesday, December 3rd. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.02. Campbell Soup had a net margin of 5.57% and a return on equity of 23.79%. As a group, sell-side analysts anticipate that The Campbell Soup Company will post 3.15 earnings per share for the current year.

Campbell Soup Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Thursday, January 2nd were issued a $0.39 dividend. This is an increase from Campbell Soup’s previous quarterly dividend of $0.37. This represents a $1.56 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend was Thursday, January 2nd. Campbell Soup’s dividend payout ratio is currently 85.25%.

Insider Buying and Selling at Campbell Soup

In other news, EVP Anthony Sanzio sold 2,000 shares of the firm’s 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 completion of the sale, the executive vice president now directly owns 16,551 shares in the company, valued at $693,486.90. This trade represents a 10.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 20.19% of the stock is currently owned by corporate insiders.

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.