Insider Selling: Campbell Soup (NASDAQ:CPB) EVP Sells 2,000 Shares of Stock

Campbell Soup (NASDAQ:CPB) EVP Anthony Sanzio sold 2,000 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were 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 owns 16,551 shares in the company, valued at $693,486.90. This represents a 10.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Campbell Soup Stock Performance

CPB opened at $39.95 on Wednesday. Campbell Soup has a fifty-two week low of $39.81 and a fifty-two week high of $52.81. The firm has a market cap of $11.91 billion, a PE ratio of 21.83, a P/E/G ratio of 2.96 and a beta of 0.19. The company has a quick ratio of 0.50, a current ratio of 0.91 and a debt-to-equity ratio of 1.74. The business has a fifty day simple moving average of $43.71 and a 200-day simple moving average of $46.62.

Campbell Soup Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.90%. This is a positive change from Campbell Soup’s previous quarterly dividend of $0.37. Campbell Soup’s payout ratio is currently 85.25%.

Hedge Funds Weigh In On Campbell Soup

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp boosted its position in shares of Campbell Soup by 3.1% in the third quarter. State Street Corp now owns 10,048,679 shares of the company’s stock worth $491,581,000 after buying an additional 298,203 shares during the period. Geode Capital Management LLC boosted its holdings in shares of 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 purchasing an additional 322,951 shares during the period. Dimensional Fund Advisors LP lifted its position in Campbell Soup by 14.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,876,253 shares of the company’s stock worth $129,971,000 after buying an additional 363,736 shares in the last quarter. LSV Asset Management lifted its position in Campbell Soup by 5,022.5% in the 2nd quarter. LSV Asset Management now owns 2,438,300 shares of the company’s stock worth $110,187,000 after buying an additional 2,390,700 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of 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 in the last quarter. 52.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Piper Sandler upgraded shares of Campbell Soup from a “neutral” rating to an “overweight” rating and upped their target price for the company from $47.00 to $56.00 in a report on Thursday, November 14th. Barclays dropped their price target 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. Stifel Nicolaus lowered their price target on Campbell Soup from $50.00 to $47.00 and set a “hold” rating for the company in a research report on Thursday, December 5th. Royal Bank of Canada reissued a “sector perform” rating and issued a $51.00 price objective on shares of Campbell Soup in a research report on Monday, December 2nd. Finally, DA Davidson reiterated a “neutral” rating and set a $51.00 target price on shares of Campbell Soup in a report on Wednesday, December 4th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Campbell Soup presently has an average rating of “Hold” and a consensus price target of $50.75.

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.