Everence Capital Management Inc. Takes $569,000 Position in Campbell Soup (NASDAQ:CPB)

Everence Capital Management Inc. bought a new stake in shares of Campbell Soup (NASDAQ:CPB - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 13,590 shares of the company's stock, valued at approximately $569,000.

A number of other institutional investors and hedge funds have also bought and sold shares of CPB. Natixis Advisors LLC boosted its stake in shares of Campbell Soup by 4.1% during the second quarter. Natixis Advisors LLC now owns 42,796 shares of the company's stock valued at $1,934,000 after purchasing an additional 1,696 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Campbell Soup by 3.5% in the 2nd quarter. CIBC Asset Management Inc now owns 34,210 shares of the company's stock valued at $1,546,000 after acquiring an additional 1,144 shares during the period. Rhumbline Advisers raised its position in shares of Campbell Soup by 0.7% in the 2nd quarter. Rhumbline Advisers now owns 407,154 shares of the company's stock worth $18,399,000 after acquiring an additional 3,007 shares in the last quarter. Larson Financial Group LLC lifted its stake in shares of Campbell Soup by 377.0% during the 2nd quarter. Larson Financial Group LLC now owns 4,236 shares of the company's stock worth $191,000 after purchasing an additional 3,348 shares during the last quarter. Finally, TD Asset Management Inc boosted its position in Campbell Soup by 15.5% during the second quarter. TD Asset Management Inc now owns 986,109 shares of the company's stock valued at $44,562,000 after purchasing an additional 132,453 shares in the last quarter. 52.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CPB shares. Argus upgraded shares of Campbell Soup from a "hold" rating to a "buy" rating and set a $59.00 target price for the company in a report on Friday, September 20th. Piper Sandler upgraded shares of Campbell Soup from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $47.00 to $56.00 in a research note on Thursday, November 14th. Sanford C. Bernstein upgraded shares of Campbell Soup from a "market perform" rating to an "outperform" rating and raised their target price for the company from $55.00 to $58.00 in a research note on Monday, October 7th. Stifel Nicolaus reduced their price target on Campbell Soup from $50.00 to $47.00 and set a "hold" rating on the stock in a research report on Thursday, December 5th. Finally, Citigroup lowered their price objective on Campbell Soup from $44.00 to $41.00 and set a "sell" rating for the company in a research report on Thursday, December 5th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Campbell Soup currently has an average rating of "Hold" and an average price target of $50.92.

Campbell Soup Stock Performance

Shares of CPB traded down $0.29 during mid-day trading on Friday, reaching $41.74. The company had a trading volume of 1,994,482 shares, compared to its average volume of 2,051,841. The stock has a market capitalization of $12.44 billion, a P/E ratio of 22.81, a PEG ratio of 2.96 and a beta of 0.19. Campbell Soup has a 52-week low of $40.26 and a 52-week high of $52.81. The stock has a 50 day moving average of $43.99 and a two-hundred day moving average of $46.67. The company has a quick ratio of 0.50, a current ratio of 0.91 and a debt-to-equity ratio of 1.74.

Campbell Soup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Thursday, January 2nd will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend is Thursday, January 2nd. This is a positive change from Campbell Soup's previous quarterly dividend of $0.37. Campbell Soup's dividend payout ratio is currently 85.25%.

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.