Board of the Pension Protection Fund acquired a new stake in Campbell Soup (NASDAQ:CPB - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 17,800 shares of the company's stock, valued at approximately $745,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Franklin Resources Inc. lifted 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 acquiring an additional 1,792,005 shares during the last quarter. Wulff Hansen & CO. lifted its stake in Campbell Soup by 4,419.0% in the 2nd quarter. Wulff Hansen & CO. now owns 732,530 shares of the company's stock valued at $33,103,000 after purchasing an additional 716,320 shares during the last quarter. Victory Capital Management Inc. grew its holdings in 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 purchasing an additional 558,944 shares during the period. Armistice Capital LLC increased its position in Campbell Soup by 94.0% during the second quarter. Armistice Capital LLC now owns 1,067,914 shares of the company's stock worth $48,259,000 after buying an additional 517,550 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Campbell Soup by 14.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,876,253 shares of the company's stock valued at $129,971,000 after buying an additional 363,736 shares during the period. Institutional investors and hedge funds own 52.35% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on CPB shares. StockNews.com upgraded Campbell Soup from a "sell" rating to a "hold" rating in a research note on Thursday, September 26th. Argus raised shares of Campbell Soup from a "hold" rating to a "buy" rating and set a $59.00 price objective for the company in a research report on Friday, September 20th. Sanford C. Bernstein raised shares of Campbell Soup from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $55.00 to $58.00 in a research report on Monday, October 7th. Barclays reduced their target price on shares of Campbell Soup from $49.00 to $46.00 and set an "underweight" rating for the company in a report on Friday, December 6th. Finally, DA Davidson reissued a "neutral" rating and issued a $51.00 price target on shares of Campbell Soup in a report on Wednesday, December 4th. 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $50.75.
View Our Latest Stock Report on CPB
Insider Buying and Selling
In related news, EVP Anthony Sanzio sold 2,000 shares of Campbell Soup stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $41.90, for a total value of $83,800.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 20.19% of the stock is owned by company insiders.
Campbell Soup Price Performance
Shares of CPB stock traded down $0.12 during trading on Wednesday, hitting $38.69. The company had a trading volume of 2,460,998 shares, compared to its average volume of 2,859,626. The stock's 50-day moving average price is $42.93 and its 200 day moving average price is $46.40. Campbell Soup has a one year low of $37.61 and a one year high of $52.81. 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 firm has a market capitalization of $11.53 billion, a P/E ratio of 21.14, a price-to-earnings-growth ratio of 2.96 and a beta of 0.18.
Campbell Soup Increases Dividend
The business also recently announced 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. This is a positive change from Campbell Soup's previous quarterly dividend of $0.37. This represents a $1.56 annualized dividend and a dividend yield of 4.03%. The ex-dividend date of this dividend is Thursday, January 2nd. Campbell Soup's dividend payout ratio is 80.87%.
Campbell Soup Profile
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Free Report)
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.
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