Tobam Has $4.51 Million Stake in The Campbell Soup Company (NASDAQ:CPB)

Tobam trimmed its holdings in shares of The Campbell Soup Company (NASDAQ:CPB - Free Report) by 41.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 107,629 shares of the company's stock after selling 76,830 shares during the period. Campbell Soup comprises 1.4% of Tobam's investment portfolio, making the stock its 22nd biggest holding. Tobam's holdings in Campbell Soup were worth $4,508,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the business. State Street Corp increased its holdings in Campbell Soup by 3.1% in the third quarter. State Street Corp now owns 10,048,679 shares of the company's stock valued at $491,581,000 after buying an additional 298,203 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Campbell Soup by 6.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,265,615 shares of the company's stock worth $256,827,000 after acquiring an additional 322,951 shares during the period. Franklin Resources Inc. increased its stake in Campbell Soup by 1,593.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,904,440 shares of the company's stock valued at $91,623,000 after purchasing an additional 1,792,005 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Campbell Soup by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,765,632 shares of the company's stock worth $86,375,000 after purchasing an additional 12,822 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position 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 in the last quarter. 52.35% of the stock is owned by institutional investors and hedge funds.

Campbell Soup Trading Up 1.4 %

CPB traded up $0.51 during midday trading on Tuesday, hitting $37.90. The company's stock had a trading volume of 814,428 shares, compared to its average volume of 2,826,525. The Campbell Soup Company has a 52-week low of $36.92 and a 52-week high of $52.81. The firm has a 50-day moving average price of $40.47 and a two-hundred day moving average price of $45.43. The company has a current ratio of 0.91, a quick ratio of 0.50 and a debt-to-equity ratio of 1.74. The firm has a market cap of $11.30 billion, a P/E ratio of 20.71, a PEG ratio of 2.59 and a beta of 0.19.

Campbell Soup (NASDAQ:CPB - Get Free Report) last released its earnings results 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, research analysts anticipate that The Campbell Soup Company will post 3.15 earnings per share for the current year.

Campbell Soup Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Thursday, January 2nd were issued a $0.39 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $1.56 dividend on an annualized basis and a yield of 4.12%. This is a boost from Campbell Soup's previous quarterly dividend of $0.37. Campbell Soup's dividend payout ratio (DPR) is presently 85.25%.

Insider Buying and Selling at Campbell Soup

In other Campbell Soup 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 transaction 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. The trade was a 10.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 20.19% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Piper Sandler upgraded Campbell Soup from a "neutral" rating to an "overweight" rating and raised their price target for the company from $47.00 to $56.00 in a research report on Thursday, November 14th. Stifel Nicolaus cut their target price on shares of Campbell Soup from $47.00 to $40.00 and set a "hold" rating for the company in a research report on Friday, January 24th. Citigroup lowered their price target on shares of Campbell Soup from $44.00 to $41.00 and set a "sell" rating on the stock in a research report on Thursday, December 5th. Barclays cut their price objective on Campbell Soup from $49.00 to $46.00 and set an "underweight" rating for the company in a research report on Friday, December 6th. Finally, DA Davidson reiterated a "neutral" rating and set a $51.00 target price 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 given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $50.17.

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.