Campbell Soup (NASDAQ:CPB) Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC lowered its stake in Campbell Soup (NASDAQ:CPB) by 39.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,384 shares of the company’s stock after selling 30,609 shares during the period. Manning & Napier Advisors LLC’s holdings in Campbell Soup were worth $1,984,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of CPB. Franklin Resources Inc. increased its holdings in shares of Campbell Soup by 1,593.8% in the third quarter. Franklin Resources Inc. now owns 1,904,440 shares of the company’s stock valued at $91,623,000 after buying an additional 1,792,005 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Campbell Soup by 88.2% in the third quarter. Victory Capital Management Inc. now owns 1,192,610 shares of the company’s stock valued at $58,342,000 after buying an additional 558,944 shares in the last quarter. Galvin Gaustad & Stein LLC bought a new position in shares of Campbell Soup in the fourth quarter valued at $14,769,000. Geode Capital Management LLC grew its position in Campbell Soup by 6.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,265,615 shares of the company’s stock worth $256,827,000 after purchasing an additional 322,951 shares in the last quarter. Finally, State Street Corp grew its position in Campbell Soup by 3.1% during the 3rd quarter. State Street Corp now owns 10,048,679 shares of the company’s stock worth $491,581,000 after purchasing an additional 298,203 shares in the last quarter. Institutional investors own 52.35% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on CPB shares. Wells Fargo & Company lowered their price objective 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. Sanford C. Bernstein upgraded shares of Campbell Soup from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $55.00 to $58.00 in a research report on Monday, October 7th. Piper Sandler upgraded shares of Campbell Soup from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $47.00 to $56.00 in a research report on Thursday, November 14th. Stifel Nicolaus lowered their price target on shares of Campbell Soup from $47.00 to $40.00 and set a “hold” rating on the stock in a report on Friday, January 24th. Finally, DA Davidson restated a “neutral” rating and set a $51.00 price target on shares of Campbell Soup in a report on Wednesday, December 4th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Campbell Soup has a consensus rating of “Hold” and a consensus price target of $50.17.

Campbell Soup Trading Up 2.5 %

Shares of NASDAQ:CPB opened at $39.62 on Friday. The stock has a market capitalization of $11.81 billion, a PE ratio of 21.65, a P/E/G ratio of 2.64 and a beta of 0.19. Campbell Soup has a 1 year low of $37.61 and a 1 year high of $52.81. The firm has a fifty day moving average price of $41.63 and a 200 day moving average price of $45.87. The company has a current ratio of 0.91, a quick ratio of 0.50 and a debt-to-equity ratio of 1.74.

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 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 expect that Campbell Soup will post 3.15 EPS for the current fiscal year.

Campbell Soup Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Thursday, January 2nd were given a dividend of $0.39 per share. This is a positive change from Campbell Soup’s previous quarterly dividend of $0.37. The ex-dividend date was Thursday, January 2nd. This represents a $1.56 dividend on an annualized basis and a yield of 3.94%. Campbell Soup’s payout ratio is currently 85.25%.

Insiders Place Their Bets

In other Campbell Soup news, EVP Anthony Sanzio sold 2,000 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 16,551 shares of the company’s stock, valued at $693,486.90. The trade was a 10.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.