Campbell Soup (NASDAQ:CPB) Sets New 52-Week Low - Here's What Happened

The Campbell Soup Company (NASDAQ:CPB - Get Free Report) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $37.49 and last traded at $37.71, with a volume of 303999 shares trading hands. The stock had previously closed at $38.13.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CPB shares. DA Davidson restated a "neutral" rating and set a $51.00 price objective on shares of Campbell Soup in a report on Wednesday, December 4th. Stephens restated an "overweight" rating on shares of Campbell Soup in a research note on Wednesday, December 4th. Barclays lowered 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 note on Friday, December 6th. Piper Sandler raised shares of Campbell Soup from a "neutral" rating to an "overweight" rating and raised their target price for the company from $47.00 to $56.00 in a research report on Thursday, November 14th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $51.00 price target on shares of Campbell Soup in a research report on Monday, December 2nd. Two 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 stock. According to MarketBeat.com, Campbell Soup presently has a consensus rating of "Hold" and an average target price of $50.17.

Campbell Soup Price Performance

The stock has a 50-day moving average price of $40.82 and a two-hundred day moving average price of $45.56. The stock has a market cap of $11.19 billion, a price-to-earnings ratio of 20.51, a PEG ratio of 2.67 and a beta of 0.19. The company has a current ratio of 0.91, a quick ratio of 0.50 and a debt-to-equity ratio of 1.74.

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

Campbell Soup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Thursday, January 2nd were issued a $0.39 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This is a positive change from Campbell Soup's previous quarterly dividend of $0.37. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.16%. Campbell Soup's dividend payout ratio is currently 85.25%.

Insider Buying and Selling

In related news, EVP Anthony Sanzio sold 2,000 shares of the firm's stock in a transaction 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 sale, the executive vice president now owns 16,551 shares in the company, valued at approximately $693,486.90. This trade represents a 10.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 20.19% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Campbell Soup

Several institutional investors and hedge funds have recently added to or reduced their stakes in CPB. Czech National Bank raised its holdings in shares of Campbell Soup by 7.1% during the third quarter. Czech National Bank now owns 40,140 shares of the company's stock valued at $1,964,000 after acquiring an additional 2,648 shares during the last quarter. Mather Group LLC. raised its stake in Campbell Soup by 246.8% in the 3rd quarter. Mather Group LLC. now owns 5,820 shares of the company's stock valued at $285,000 after purchasing an additional 4,142 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in Campbell Soup by 62.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 24,587 shares of the company's stock valued at $1,203,000 after purchasing an additional 9,409 shares in the last quarter. Swedbank AB boosted its stake in Campbell Soup by 49.3% during the 3rd quarter. Swedbank AB now owns 350,764 shares of the company's stock worth $17,159,000 after purchasing an additional 115,794 shares during the last quarter. Finally, MN Wealth Advisors LLC purchased a new stake in shares of Campbell Soup during the third quarter worth $940,000. Hedge funds and other institutional investors own 52.35% of the company's stock.

About Campbell Soup

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.