Campbell Soup (NASDAQ:CPB) Shares Sold by RK Asset Management LLC

RK Asset Management LLC lessened its stake in Campbell Soup (NASDAQ:CPB) by 1.2% during the fourth quarter, Holdings Channel reports. The firm owned 136,061 shares of the company’s stock after selling 1,658 shares during the period. Campbell Soup makes up about 4.7% of RK Asset Management LLC’s holdings, making the stock its 11th biggest holding. RK Asset Management LLC’s holdings in Campbell Soup were worth $5,698,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Rothschild Investment LLC purchased a new stake in Campbell Soup during the second quarter worth approximately $44,000. Natixis Advisors LLC lifted its stake in shares of Campbell Soup by 4.1% during the second quarter. Natixis Advisors LLC now owns 42,796 shares of the company’s stock worth $1,934,000 after purchasing an additional 1,696 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Campbell Soup by 3.5% in the second quarter. CIBC Asset Management Inc now owns 34,210 shares of the company’s stock valued at $1,546,000 after buying an additional 1,144 shares in the last quarter. Rhumbline Advisers lifted its position in Campbell Soup by 0.7% during the 2nd quarter. Rhumbline Advisers now owns 407,154 shares of the company’s stock worth $18,399,000 after acquiring an additional 3,007 shares in the last quarter. Finally, Weaver Capital Management LLC boosted its holdings in Campbell Soup by 9.2% in the 2nd quarter. Weaver Capital Management LLC now owns 8,084 shares of the company’s stock worth $365,000 after acquiring an additional 680 shares during the period. 52.35% of the stock is owned by hedge funds and other institutional investors.

Campbell Soup Stock Performance

NASDAQ:CPB traded down $0.29 during midday trading on Friday, reaching $41.74. 1,994,482 shares of the company traded hands, compared to its average volume of 2,051,841. The firm has a market capitalization of $12.44 billion, a price-to-earnings ratio of 22.81, a price-to-earnings-growth ratio of 2.96 and a beta of 0.18. The company has a fifty day moving average price of $44.10 and a 200 day moving average price of $46.68. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.91 and a quick ratio of 0.50. Campbell Soup has a twelve month low of $40.26 and a twelve month high of $52.81.

Campbell Soup Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Thursday, January 2nd will be paid a $0.39 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $1.56 annualized dividend and a dividend yield of 3.74%. This is a positive change from Campbell Soup’s previous quarterly dividend of $0.37. Campbell Soup’s dividend payout ratio (DPR) is presently 85.25%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CPB shares. JPMorgan Chase & Co. raised their price target on shares of Campbell Soup from $55.00 to $57.00 and gave the company an “overweight” rating in a report on Wednesday, September 11th. Citigroup lowered their price objective on Campbell Soup from $44.00 to $41.00 and set a “sell” rating for the company in a research note on Thursday, December 5th. StockNews.com raised Campbell Soup from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. DA Davidson reissued a “neutral” rating and set a $51.00 price target on shares of Campbell Soup in a research report on Wednesday, December 4th. Finally, 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. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $50.92.

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.