Ieq Capital LLC Grows Stock Position in The Campbell Soup Company (NASDAQ:CPB)

Ieq Capital LLC grew its stake in The Campbell Soup Company (NASDAQ:CPB) by 49.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,145 shares of the company’s stock after buying an additional 5,038 shares during the quarter. Ieq Capital LLC’s holdings in Campbell Soup were worth $634,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Franklin Resources Inc. increased its holdings 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 valued at $91,623,000 after buying an additional 1,792,005 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Campbell Soup by 88.2% in the 3rd quarter. Victory Capital Management Inc. now owns 1,192,610 shares of the company’s stock valued at $58,342,000 after purchasing an additional 558,944 shares in the last quarter. Van ECK Associates Corp raised its holdings in Campbell Soup by 6.1% in the 4th quarter. Van ECK Associates Corp now owns 9,247,213 shares of the company’s stock worth $387,273,000 after purchasing an additional 531,281 shares during the period. Galvin Gaustad & Stein LLC acquired a new position in Campbell Soup in the 4th quarter worth about $14,769,000. Finally, Geode Capital Management LLC boosted its position in 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 purchasing an additional 322,951 shares in the last quarter. Hedge funds and other institutional investors own 52.35% of the company’s stock.

Campbell Soup Stock Up 0.8 %

NASDAQ:CPB opened at $41.65 on Wednesday. The Campbell Soup Company has a 52 week low of $36.92 and a 52 week high of $52.81. The stock’s fifty day moving average is $39.60 and its two-hundred day moving average is $44.73. The stock has a market capitalization of $12.41 billion, a price-to-earnings ratio of 22.76, a price-to-earnings-growth ratio of 2.71 and a beta of 0.19. The company has a quick ratio of 0.50, a current ratio of 0.91 and a debt-to-equity ratio of 1.74.

Campbell Soup (NASDAQ:CPB) last posted its earnings results 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 return on equity of 23.79% and a net margin of 5.57%. Research analysts anticipate that The Campbell Soup Company will post 3.15 EPS for the current year.

Campbell Soup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Thursday, January 2nd were paid a dividend of $0.39 per share. This is an increase from Campbell Soup’s previous quarterly dividend of $0.37. This represents a $1.56 annualized dividend and a yield of 3.75%. The ex-dividend date was Thursday, January 2nd. Campbell Soup’s dividend payout ratio is presently 85.25%.

Analyst Ratings Changes

CPB has been the subject of a number of recent analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $51.00 price objective on shares of Campbell Soup in a research report on Monday, December 2nd. Stephens restated an “overweight” rating on shares of Campbell Soup in a research report on Wednesday, December 4th. Stifel Nicolaus decreased their price objective 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. Piper Sandler raised shares of Campbell Soup from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $47.00 to $56.00 in a research note on Thursday, November 14th. Finally, Wells Fargo & Company decreased their price target on shares of Campbell Soup from $45.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Two 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $50.17.

Insiders Place Their Bets

In related news, EVP Anthony Sanzio sold 2,000 shares of Campbell Soup stock in a transaction on Friday, January 3rd. The stock was 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 directly owns 16,551 shares in the company, valued at approximately $693,486.90. This trade represents a 10.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 20.19% of the stock is owned by company insiders.

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.