Campbell Soup (NASDAQ:CPB) Trading 5.4% Higher – Here’s What Happened

The Campbell Soup Company (NASDAQ:CPB) shares traded up 5.4% during mid-day trading on Friday . The company traded as high as $41.86 and last traded at $41.94. 490,086 shares were traded during trading, a decline of 81% from the average session volume of 2,549,120 shares. The stock had previously closed at $39.79.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Piper Sandler upgraded Campbell Soup from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $47.00 to $56.00 in a research report on Thursday, November 14th. Stifel Nicolaus lowered their price objective on Campbell Soup from $47.00 to $40.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. Bank of America lowered their price objective on Campbell Soup from $45.00 to $41.00 and set an “underperform” rating on the stock in a research report on Thursday. Citigroup lowered their price target on Campbell Soup from $39.00 to $37.00 and set a “sell” rating on the stock in a research report on Thursday. Finally, Jefferies Financial Group lowered their price target on Campbell Soup from $42.00 to $40.00 and set a “hold” rating on the stock in a research report on Wednesday. Four analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $46.36.

Campbell Soup Trading Up 5.1 %

The company has a debt-to-equity ratio of 1.74, a current ratio of 0.91 and a quick ratio of 0.50. The company has a market cap of $12.47 billion, a price-to-earnings ratio of 22.85, a price-to-earnings-growth ratio of 2.71 and a beta of 0.15. The business has a 50 day simple moving average of $39.39 and a 200 day simple moving average of $44.31.

Campbell Soup (NASDAQ:CPB) last posted its quarterly earnings data on Wednesday, March 5th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. The company had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.74 billion. Campbell Soup had a return on equity of 23.79% and a net margin of 5.57%. The company’s quarterly revenue was up 9.3% on a year-over-year basis. As a group, equities analysts forecast that The Campbell Soup Company will post 3.15 EPS for the current year.

Campbell Soup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Thursday, April 3rd will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend is Thursday, April 3rd. Campbell Soup’s dividend payout ratio (DPR) is presently 90.17%.

Insider Activity

In other news, EVP Anthony Sanzio sold 2,000 shares of the company’s stock in a transaction 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 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 20.19% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Campbell Soup

Several large investors have recently made changes to their positions in CPB. Farther Finance Advisors LLC increased its holdings in Campbell Soup by 45.1% in the third quarter. Farther Finance Advisors LLC now owns 1,776 shares of the company’s stock valued at $87,000 after purchasing an additional 552 shares during the last quarter. QRG Capital Management Inc. increased its holdings in Campbell Soup by 9.7% in the third quarter. QRG Capital Management Inc. now owns 15,723 shares of the company’s stock valued at $769,000 after purchasing an additional 1,392 shares during the last quarter. Graypoint LLC increased its holdings in Campbell Soup by 18.3% in the third quarter. Graypoint LLC now owns 6,031 shares of the company’s stock valued at $295,000 after purchasing an additional 931 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Campbell Soup by 6.8% in the third quarter. Principal Financial Group Inc. now owns 278,607 shares of the company’s stock valued at $13,629,000 after purchasing an additional 17,663 shares during the last quarter. Finally, Rovin Capital UT ADV increased its holdings in Campbell Soup by 10.4% in the third quarter. Rovin Capital UT ADV now owns 15,468 shares of the company’s stock valued at $757,000 after purchasing an additional 1,453 shares during the last quarter. Institutional investors and hedge funds own 52.35% of the company’s stock.

About Campbell Soup

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.