Vestcor Inc Decreases Position in The Campbell Soup Company (NASDAQ:CPB)

Vestcor Inc trimmed its position in The Campbell Soup Company (NASDAQ:CPB) by 39.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 110,428 shares of the company’s stock after selling 72,100 shares during the quarter. Vestcor Inc’s holdings in Campbell Soup were worth $4,625,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in shares of Campbell Soup in the third quarter valued at about $39,000. Sherman Asset Management Inc. acquired a new position in Campbell Soup during the fourth quarter worth about $36,000. Principal Securities Inc. raised its position in shares of Campbell Soup by 45.5% in the fourth quarter. Principal Securities Inc. now owns 927 shares of the company’s stock valued at $39,000 after buying an additional 290 shares during the last quarter. Kentucky Trust Co acquired a new position in shares of Campbell Soup in the fourth quarter valued at approximately $42,000. Finally, Quent Capital LLC increased its position in Campbell Soup by 77.7% during the fourth quarter. Quent Capital LLC now owns 1,100 shares of the company’s stock worth $46,000 after purchasing an additional 481 shares during the last quarter. 52.35% of the stock is currently owned by institutional investors and hedge funds.

Campbell Soup Trading Down 0.3 %

Shares of CPB stock opened at $38.47 on Friday. The Campbell Soup Company has a 12 month low of $36.92 and a 12 month high of $52.81. The company has a quick ratio of 0.50, a current ratio of 0.91 and a debt-to-equity ratio of 1.74. The business’s 50 day moving average is $39.30 and its two-hundred day moving average is $44.04. The company has a market cap of $11.47 billion, a PE ratio of 21.02, a price-to-earnings-growth ratio of 2.71 and a beta of 0.15.

Campbell Soup (NASDAQ:CPB) last posted its quarterly earnings results on Wednesday, March 5th. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. The firm had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.74 billion. Campbell Soup had a net margin of 5.57% and a return on equity of 23.79%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. Equities analysts predict that The Campbell Soup Company will post 3.15 EPS for the current year.

Campbell Soup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Thursday, April 3rd will be paid a $0.39 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $1.56 annualized dividend and a dividend yield of 4.06%. Campbell Soup’s dividend payout ratio (DPR) is currently 90.17%.

Insider Activity

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 transaction of $83,800.00. Following the completion of the sale, the executive vice president now directly owns 16,551 shares of the company’s stock, valued at $693,486.90. The trade was a 10.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 20.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. DA Davidson decreased their price objective on shares of Campbell Soup from $46.00 to $39.00 and set a “neutral” rating for the company in a research note on Tuesday. Piper Sandler raised shares of Campbell Soup from a “neutral” rating to an “overweight” rating and upped their price target for the company from $47.00 to $56.00 in a report on Thursday, November 14th. Stephens reissued an “overweight” rating on shares of Campbell Soup in a report on Wednesday, December 4th. Bank of America dropped their price objective on shares of Campbell Soup from $45.00 to $41.00 and set an “underperform” rating on the stock in a report on Thursday, March 6th. Finally, Jefferies Financial Group decreased their target price on shares of Campbell Soup from $42.00 to $40.00 and set a “hold” rating for the company in a research report on Wednesday, March 5th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Campbell Soup currently has a consensus rating of “Hold” and a consensus price target of $45.23.

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.