The Campbell Soup Company (NASDAQ:CPB) Holdings Boosted by ICICI Prudential Asset Management Co Ltd

ICICI Prudential Asset Management Co Ltd boosted its position in shares of The Campbell Soup Company (NASDAQ:CPB) by 2.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 200,045 shares of the company’s stock after purchasing an additional 3,892 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in Campbell Soup were worth $8,378,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its position in Campbell Soup by 1,593.8% during 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. Raymond James Trust N.A. grew its position in Campbell Soup by 43.8% during the 3rd quarter. Raymond James Trust N.A. now owns 9,228 shares of the company’s stock worth $451,000 after purchasing an additional 2,809 shares in the last quarter. FMR LLC grew its position in Campbell Soup by 34.2% during the 3rd quarter. FMR LLC now owns 165,494 shares of the company’s stock worth $8,096,000 after purchasing an additional 42,216 shares in the last quarter. Centiva Capital LP purchased a new position in Campbell Soup during the 3rd quarter worth approximately $2,806,000. Finally, Smith Group Asset Management LLC purchased a new position in Campbell Soup during the 4th quarter worth approximately $293,000. 52.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Anthony Sanzio sold 2,000 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were 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 in the company, valued at approximately $693,486.90. The trade was a 10.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 20.19% of the company’s stock.

Campbell Soup Stock Down 1.2 %

CPB stock opened at $38.16 on Wednesday. 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 Campbell Soup Company has a 1 year low of $36.92 and a 1 year high of $52.81. The company has a fifty day simple moving average of $39.97 and a 200 day simple moving average of $45.11. The firm has a market cap of $11.37 billion, a PE ratio of 20.85, a PEG ratio of 2.66 and a beta of 0.19.

Campbell Soup (NASDAQ:CPB) last announced its earnings results on Tuesday, December 3rd. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.87 by $0.02. Campbell Soup had a net margin of 5.57% and a return on equity of 23.79%. Sell-side analysts anticipate that The Campbell Soup Company will post 3.15 EPS for the current fiscal year.

Campbell Soup Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Thursday, January 2nd were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 4.09%. The ex-dividend date was Thursday, January 2nd. This is an increase from Campbell Soup’s previous quarterly dividend of $0.37. Campbell Soup’s dividend payout ratio (DPR) is 85.25%.

Analysts Set New Price Targets

CPB has been the topic of several research analyst reports. Wells Fargo & Company lowered their price objective on shares of Campbell Soup from $45.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. DA Davidson reissued a “neutral” rating and set a $51.00 target price on shares of Campbell Soup in a research note on Wednesday, December 4th. Stephens reissued an “overweight” rating on shares of Campbell Soup in a research note on Wednesday, December 4th. Piper Sandler raised shares of Campbell Soup from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $47.00 to $56.00 in a research note on Thursday, November 14th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $51.00 target price on shares of Campbell Soup in a research note on Monday, December 2nd. Two investment 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $50.17.

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.