The Campbell Soup Company (NASDAQ:CPB) Holdings Trimmed by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its stake in The Campbell Soup Company (NASDAQ:CPB - Free Report) by 8.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 89,667 shares of the company's stock after selling 8,359 shares during the quarter. New York State Common Retirement Fund's holdings in Campbell Soup were worth $3,755,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted its position in Campbell Soup by 11.7% during the third quarter. Assenagon Asset Management S.A. now owns 12,628 shares of the company's stock valued at $618,000 after purchasing an additional 1,324 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Campbell Soup by 55.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,696 shares of the company's stock worth $725,000 after purchasing an additional 5,268 shares during the last quarter. State of Alaska Department of Revenue grew its position in Campbell Soup by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 22,888 shares of the company's stock worth $1,119,000 after acquiring an additional 1,550 shares in the last quarter. abrdn plc boosted its stake in Campbell Soup by 2.3% during the third quarter. abrdn plc now owns 394,538 shares of the company's stock worth $19,257,000 after buying an additional 8,866 shares during the period. Finally, First Trust Direct Indexing L.P. boosted its position in shares of Campbell Soup by 14.7% during the third quarter. First Trust Direct Indexing L.P. now owns 12,799 shares of the company's stock valued at $626,000 after buying an additional 1,640 shares during the period. Hedge funds and other institutional investors own 52.35% of the company's stock.

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Analyst Upgrades and Downgrades

Several research firms have recently commented on CPB. Royal Bank of Canada restated a "sector perform" rating and issued a $51.00 price target on shares of Campbell Soup in a report on Monday, December 2nd. Stifel Nicolaus cut their price objective on Campbell Soup from $47.00 to $40.00 and set a "hold" rating on the stock in a report on Friday, January 24th. BNP Paribas upgraded Campbell Soup to a "strong sell" rating in a research note on Wednesday, February 26th. Piper Sandler raised shares of Campbell Soup from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $47.00 to $56.00 in a report on Thursday, November 14th. Finally, DA Davidson reissued a "neutral" rating and issued a $51.00 price target on shares of Campbell Soup in a research note on Wednesday, December 4th. Three equities 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. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $50.17.

Campbell Soup Price Performance

Shares of Campbell Soup stock traded down $0.69 on Tuesday, hitting $40.60. The company's stock had a trading volume of 3,261,621 shares, compared to its average volume of 2,543,143. The Campbell Soup Company has a 52-week low of $36.92 and a 52-week high of $52.81. The firm has a fifty day moving average price of $39.50 and a 200-day moving average price of $44.49. The company has a market capitalization of $12.10 billion, a P/E ratio of 22.20, a price-to-earnings-growth ratio of 2.71 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.

Campbell Soup (NASDAQ:CPB - Get Free Report) last posted its quarterly earnings data on Tuesday, December 3rd. The company reported $0.89 earnings per share (EPS) 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%. On average, equities research analysts expect that The Campbell Soup Company will post 3.15 earnings per share for the current fiscal year.

Campbell Soup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Thursday, April 3rd will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 3.84%. The ex-dividend date is Thursday, April 3rd. 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 stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $41.90, for a total value of $83,800.00. Following the sale, the executive vice president now owns 16,551 shares of the company's stock, valued at $693,486.90. This trade represents a 10.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 20.19% of the stock is currently owned by company insiders.

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.