Washington Capital Management Inc. Sells 2,670 Shares of Campbell Soup (NASDAQ:CPB)

Washington Capital Management Inc. decreased its stake in shares of Campbell Soup (NASDAQ:CPB) by 11.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 19,925 shares of the company’s stock after selling 2,670 shares during the quarter. Washington Capital Management Inc.’s holdings in Campbell Soup were worth $834,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp lifted its position in shares of Campbell Soup by 3.1% during the 3rd quarter. State Street Corp now owns 10,048,679 shares of the company’s stock valued at $491,581,000 after acquiring an additional 298,203 shares during the period. Geode Capital Management LLC grew its stake in shares of Campbell Soup by 6.5% during 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. increased its holdings 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 worth $91,623,000 after purchasing an additional 1,792,005 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Campbell Soup by 0.7% during the 3rd 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 period. Finally, Victory Capital Management Inc. lifted its holdings in shares of 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 during the period. Institutional investors and hedge funds own 52.35% of the company’s stock.

Campbell Soup Price Performance

CPB stock opened at $38.67 on Thursday. The stock has a market cap of $11.53 billion, a PE ratio of 21.13, a P/E/G ratio of 2.64 and a beta of 0.19. Campbell Soup has a 12 month low of $37.61 and a 12 month high of $52.81. 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 company has a 50-day moving average price of $41.73 and a 200 day moving average price of $45.91.

Campbell Soup (NASDAQ:CPB) last announced its earnings results on Tuesday, December 3rd. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.02. Campbell Soup had a return on equity of 23.79% and a net margin of 5.57%. Equities research analysts anticipate that Campbell Soup 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. Shareholders of record on Thursday, January 2nd were paid a dividend of $0.39 per share. The ex-dividend date was Thursday, January 2nd. This is an increase from Campbell Soup’s previous quarterly dividend of $0.37. This represents a $1.56 dividend on an annualized basis and a yield of 4.03%. Campbell Soup’s payout ratio is 85.25%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. DA Davidson reissued a “neutral” rating and issued a $51.00 price objective on shares of Campbell Soup in a research report on Wednesday, December 4th. Barclays cut their price target on Campbell Soup from $49.00 to $46.00 and set an “underweight” rating for the company in a research note on Friday, December 6th. Sanford C. Bernstein raised shares of Campbell Soup from a “market perform” rating to an “outperform” rating and raised their price target for the company from $55.00 to $58.00 in a research report on Monday, October 7th. Wells Fargo & Company decreased their target price on Campbell Soup from $45.00 to $43.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Finally, Piper Sandler raised shares of Campbell Soup from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $47.00 to $56.00 in a report on Thursday, November 14th. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $50.17.

Insider Activity

In related news, EVP Anthony Sanzio sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $41.90, for a total transaction of $83,800.00. Following the completion of the sale, the executive vice president now owns 16,551 shares in the company, valued at $693,486.90. The trade was a 10.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 20.19% of the company’s stock.

Campbell Soup Company 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.