Wingate Wealth Advisors Inc. Purchases New Position in The Campbell Soup Company (NASDAQ:CPB)

Wingate Wealth Advisors Inc. purchased a new stake in The Campbell Soup Company (NASDAQ:CPB) in the 4th quarter, HoldingsChannel reports. The fund purchased 1,692 shares of the company’s stock, valued at approximately $71,000.

Several other large investors also recently modified their holdings of the business. State Street Corp lifted 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 worth $491,581,000 after acquiring an additional 298,203 shares during the last quarter. Geode Capital Management LLC grew its position in Campbell Soup by 6.5% in the third quarter. Geode Capital Management LLC now owns 5,265,615 shares of the company’s stock worth $256,827,000 after buying an additional 322,951 shares during the last quarter. Franklin Resources Inc. grew its position in Campbell Soup by 1,593.8% in the third quarter. Franklin Resources Inc. now owns 1,904,440 shares of the company’s stock worth $91,623,000 after buying an additional 1,792,005 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Campbell Soup by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,765,632 shares of the company’s stock worth $86,375,000 after buying an additional 12,822 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Campbell Soup by 88.2% in the third quarter. Victory Capital Management Inc. now owns 1,192,610 shares of the company’s stock worth $58,342,000 after buying an additional 558,944 shares during the last quarter. 52.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CPB has been the topic of several recent research reports. Stifel Nicolaus decreased their price target on shares of Campbell Soup from $47.00 to $40.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. Barclays lowered their price target on shares of Campbell Soup from $49.00 to $46.00 and set an “underweight” rating on the stock in a report on Friday, December 6th. DA Davidson reiterated a “neutral” rating and issued a $51.00 price objective on shares of Campbell Soup in a report on Wednesday, December 4th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $51.00 price objective on shares of Campbell Soup in a report on Monday, December 2nd. Finally, Piper Sandler upgraded shares of Campbell Soup from a “neutral” rating to an “overweight” rating and upped their price target for the company from $47.00 to $56.00 in a report on Thursday, November 14th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Campbell Soup has a consensus rating of “Hold” and an average target price of $50.17.

Campbell Soup Stock Down 0.4 %

Shares of CPB opened at $37.39 on Tuesday. The company has a 50-day simple moving average of $40.47 and a 200-day simple moving average of $45.43. The firm has a market capitalization of $11.15 billion, a P/E ratio of 20.43, a P/E/G ratio of 2.59 and a beta of 0.19. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.50 and a current ratio of 0.91. The Campbell Soup Company has a 52 week low of $36.92 and a 52 week high of $52.81.

Campbell Soup (NASDAQ:CPB) last announced its quarterly earnings data on Tuesday, December 3rd. The company reported $0.89 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 year.

Campbell Soup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Thursday, January 2nd were given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 4.17%. 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. Campbell Soup’s dividend payout ratio is 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 completion of the transaction, the executive vice president now owns 16,551 shares of the company’s stock, valued at $693,486.90. This represents a 10.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 20.19% of the company’s stock.

Campbell Soup 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.