Manning & Napier Advisors LLC Sells 30,609 Shares of The Campbell Soup Company (NASDAQ:CPB)

Manning & Napier Advisors LLC lessened its stake in shares of The Campbell Soup Company (NASDAQ:CPB - Free Report) by 39.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 47,384 shares of the company's stock after selling 30,609 shares during the quarter. Manning & Napier Advisors LLC's holdings in Campbell Soup were worth $1,984,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Public Sector Pension Investment Board lifted its position in shares of Campbell Soup by 60.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 7,809 shares of the company's stock valued at $353,000 after acquiring an additional 2,940 shares during the last quarter. Creative Planning lifted its holdings in shares of Campbell Soup by 2.4% during the second quarter. Creative Planning now owns 112,956 shares of the company's stock valued at $5,104,000 after purchasing an additional 2,661 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Campbell Soup by 18.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 13,843 shares of the company's stock valued at $626,000 after purchasing an additional 2,152 shares during the period. B. Riley Wealth Advisors Inc. purchased a new position in Campbell Soup in the 2nd quarter worth about $760,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Campbell Soup during the 2nd quarter worth about $32,000. Institutional investors and hedge funds own 52.35% of the company's stock.

Campbell Soup Stock Performance

Shares of CPB stock traded down $0.64 during trading hours on Monday, reaching $38.13. 1,591,430 shares of the company's stock were exchanged, compared to its average volume of 2,954,960. The business has a fifty day moving average price of $41.50 and a 200-day moving average price of $45.80. The stock has a market capitalization of $11.37 billion, a P/E ratio of 20.84, a P/E/G ratio of 2.67 and a beta of 0.19. The company has a quick ratio of 0.50, a current ratio of 0.91 and a debt-to-equity ratio of 1.74. The Campbell Soup Company has a fifty-two week low of $37.61 and a fifty-two week high of $52.81.

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, 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%. Analysts predict that The Campbell Soup Company will post 3.15 EPS for the current fiscal year.

Campbell Soup Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Thursday, January 2nd were paid a $0.39 dividend. 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 4.09%. The ex-dividend date of this dividend was Thursday, January 2nd. Campbell Soup's dividend payout ratio is currently 85.25%.

Insider Transactions at Campbell Soup

In other Campbell Soup news, EVP Anthony Sanzio sold 2,000 shares of the company's stock in a transaction 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 sale, the executive vice president now directly owns 16,551 shares in the company, valued at $693,486.90. This 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 at this hyperlink. 20.19% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CPB has been the topic of several analyst reports. Sanford C. Bernstein raised shares of Campbell Soup from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $55.00 to $58.00 in a research report on Monday, October 7th. Barclays lowered 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. Royal Bank of Canada restated a "sector perform" rating and issued a $51.00 target price on shares of Campbell Soup in a report on Monday, December 2nd. DA Davidson reiterated a "neutral" rating and set a $51.00 price target on shares of Campbell Soup in a report on Wednesday, December 4th. Finally, Citigroup reduced their price objective on Campbell Soup from $44.00 to $41.00 and set a "sell" rating for the company in a research note 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 company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average 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.