Lecap Asset Management Ltd. Purchases New Stake in The Campbell Soup Company (NASDAQ:CPB)

Lecap Asset Management Ltd. purchased a new position in The Campbell Soup Company (NASDAQ:CPB - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 8,001 shares of the company's stock, valued at approximately $335,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CPB. Franklin Resources Inc. lifted its position 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 valued at $91,623,000 after purchasing an additional 1,792,005 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Campbell Soup by 88.2% in the 3rd 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. Galvin Gaustad & Stein LLC bought a new stake in shares of Campbell Soup in the fourth quarter worth $14,769,000. Geode Capital Management LLC increased its position 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 valued at $256,827,000 after acquiring an additional 322,951 shares during the last quarter. Finally, State Street Corp boosted its position in 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 purchasing an additional 298,203 shares during the last quarter. Hedge funds and other institutional investors own 52.35% of the company's stock.

Insiders Place Their Bets

In other Campbell Soup news, EVP Anthony Sanzio sold 2,000 shares of the firm's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $41.90, for a total transaction of $83,800.00. Following the sale, the executive vice president now directly owns 16,551 shares of the company's stock, valued at $693,486.90. This trade represents a 10.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 20.19% of the company's stock.

Campbell Soup Trading Up 0.3 %

Shares of CPB traded up $0.11 during mid-day trading on Wednesday, reaching $38.06. The stock had a trading volume of 2,249,042 shares, compared to its average volume of 2,864,051. The Campbell Soup Company has a 52-week low of $36.92 and a 52-week high of $52.81. The firm has a market cap of $11.35 billion, a price-to-earnings ratio of 20.80, a P/E/G ratio of 2.59 and a beta of 0.19. The business's fifty day moving average is $40.22 and its 200 day moving average is $45.31. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.91 and a quick ratio of 0.50.

Campbell Soup (NASDAQ:CPB - Get Free Report) 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 net margin of 5.57% and a return on equity of 23.79%. On average, sell-side analysts predict that The Campbell Soup Company will post 3.15 EPS for the current fiscal year.

Campbell Soup Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Thursday, January 2nd were given a $0.39 dividend. This is a boost from Campbell Soup's previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $1.56 annualized dividend and a yield of 4.10%. Campbell Soup's dividend payout ratio is presently 85.25%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CPB shares. Stifel Nicolaus dropped their price objective on shares of Campbell Soup from $47.00 to $40.00 and set a "hold" rating on the stock in a report on Friday, January 24th. Stephens restated an "overweight" rating on shares of Campbell Soup in a research report on Wednesday, December 4th. Royal Bank of Canada reiterated a "sector perform" rating and set a $51.00 price objective on shares of Campbell Soup in a research note on Monday, December 2nd. Barclays decreased their price objective on shares of Campbell Soup from $49.00 to $46.00 and set an "underweight" rating on the stock in a research report on Friday, December 6th. Finally, Piper Sandler raised Campbell Soup from a "neutral" rating to an "overweight" rating and raised their price target for the company from $47.00 to $56.00 in a report on Thursday, November 14th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus 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.