Allspring Global Investments Holdings LLC Sells 214,835 Shares of The Campbell Soup Company (NASDAQ:CPB)

Allspring Global Investments Holdings LLC lessened its holdings in The Campbell Soup Company (NASDAQ:CPB - Free Report) by 51.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 202,878 shares of the company's stock after selling 214,835 shares during the period. Allspring Global Investments Holdings LLC owned 0.07% of Campbell Soup worth $8,527,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Franklin Resources Inc. increased its position in Campbell Soup by 1,593.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,904,440 shares of the company's stock worth $91,623,000 after buying an additional 1,792,005 shares during the period. Victory Capital Management Inc. increased its position in Campbell Soup by 88.2% during 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 period. Galvin Gaustad & Stein LLC bought a new position in Campbell Soup during the 4th quarter worth $14,769,000. Geode Capital Management LLC increased 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 buying an additional 322,951 shares during the period. Finally, State Street Corp increased its position in Campbell Soup by 3.1% during the 3rd 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. Institutional investors own 52.35% of the company's stock.

Insiders Place Their Bets

In other news, EVP Anthony Sanzio sold 2,000 shares of the company's stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $41.90, for a total value of $83,800.00. Following the completion of the transaction, the executive vice president now owns 16,551 shares of the company's stock, valued at $693,486.90. This represents a 10.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 20.19% of the company's stock.

Campbell Soup Price Performance

NASDAQ CPB traded up $1.25 during trading on Friday, hitting $40.59. 3,964,560 shares of the company's stock were exchanged, compared to its average volume of 2,874,091. The company has a current ratio of 0.91, a quick ratio of 0.50 and a debt-to-equity ratio of 1.74. The company has a market cap of $12.10 billion, a PE ratio of 22.18, a P/E/G ratio of 2.66 and a beta of 0.19. The Campbell Soup Company has a fifty-two week low of $36.92 and a fifty-two week high of $52.81. The stock's 50 day moving average price is $39.70 and its two-hundred day moving average price is $44.95.

Campbell Soup (NASDAQ:CPB - Get Free Report) last issued its earnings results on Tuesday, December 3rd. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.87 by $0.02. Campbell Soup had a return on equity of 23.79% and a net margin of 5.57%. Research analysts expect that The Campbell Soup Company will post 3.15 EPS for the current year.

Campbell Soup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Thursday, January 2nd were paid a dividend of $0.39 per share. This is an increase 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 3.84%. Campbell Soup's payout ratio is presently 85.25%.

Analyst Ratings Changes

Several research firms have weighed in on CPB. Citigroup lowered their price objective on Campbell Soup from $44.00 to $41.00 and set a "sell" rating on the stock in a research report on Thursday, December 5th. Royal Bank of Canada reiterated a "sector perform" rating and set a $51.00 price objective on shares of Campbell Soup in a research report on Monday, December 2nd. Piper Sandler raised Campbell Soup from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $47.00 to $56.00 in a report on Thursday, November 14th. 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. Finally, Wells Fargo & Company cut their price objective on shares of Campbell Soup from $45.00 to $43.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 7th. Two 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target 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.