The Campbell Soup Company (NASDAQ:CPB) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS cut its holdings in shares of The Campbell Soup Company (NASDAQ:CPB) by 3.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,945 shares of the company’s stock after selling 1,380 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Campbell Soup were worth $1,757,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Venturi Wealth Management LLC increased its position in shares of Campbell Soup by 3,172.6% in the 4th quarter. Venturi Wealth Management LLC now owns 3,698 shares of the company’s stock valued at $155,000 after purchasing an additional 3,585 shares during the last quarter. Truist Financial Corp increased its position in shares of Campbell Soup by 4.4% in the 4th quarter. Truist Financial Corp now owns 14,634 shares of the company’s stock valued at $613,000 after purchasing an additional 615 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Campbell Soup by 2.6% in the 4th quarter. CIBC Asset Management Inc now owns 37,426 shares of the company’s stock valued at $1,567,000 after purchasing an additional 939 shares during the last quarter. Allworth Financial LP increased its position in shares of Campbell Soup by 1,498.0% in the 4th quarter. Allworth Financial LP now owns 11,186 shares of the company’s stock valued at $428,000 after purchasing an additional 10,486 shares during the last quarter. Finally, Principal Securities Inc. increased its position in shares of Campbell Soup by 45.5% in the 4th quarter. Principal Securities Inc. now owns 927 shares of the company’s stock valued at $39,000 after purchasing an additional 290 shares during the last quarter. 52.35% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Campbell Soup

In other news, EVP Anthony Sanzio sold 2,000 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now owns 16,551 shares in the company, valued at approximately $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 this hyperlink. Company insiders own 20.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Citigroup dropped their price objective 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. Wells Fargo & Company dropped their target price on shares of Campbell Soup from $45.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Stifel Nicolaus dropped their target price 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. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $51.00 target price on shares of Campbell Soup in a research report on Monday, December 2nd. Finally, Stephens reaffirmed an “overweight” rating on shares of Campbell Soup in a research report on Wednesday, December 4th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $50.17.

Campbell Soup Trading Up 1.3 %

Shares of Campbell Soup stock opened at $38.64 on Thursday. The Campbell Soup Company has a 1 year low of $36.92 and a 1 year high of $52.81. 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 company has a market capitalization of $11.52 billion, a P/E ratio of 21.11, a PEG ratio of 2.66 and a beta of 0.19. The company’s fifty day moving average is $39.77 and its two-hundred day moving average is $44.99.

Campbell Soup (NASDAQ:CPB) last issued its quarterly earnings data on Tuesday, December 3rd. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.02. Campbell Soup had a net margin of 5.57% and a return on equity of 23.79%. Analysts forecast 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. Stockholders of record on Thursday, January 2nd were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 4.04%. The ex-dividend date of this dividend was Thursday, January 2nd. This is a boost from Campbell Soup’s previous quarterly dividend of $0.37. Campbell Soup’s dividend payout ratio (DPR) is 85.25%.

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.