Kentucky Retirement Systems Insurance Trust Fund Has $275,000 Position in The Campbell Soup Company (NASDAQ:CPB)

Kentucky Retirement Systems Insurance Trust Fund boosted its stake in shares of The Campbell Soup Company (NASDAQ:CPB) by 9.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,359 shares of the company’s stock after acquiring an additional 525 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Campbell Soup were worth $275,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Ballentine Partners LLC increased its stake in shares of Campbell Soup by 2.8% in the fourth quarter. Ballentine Partners LLC now owns 9,646 shares of the company’s stock valued at $404,000 after buying an additional 262 shares in the last quarter. Creative Financial Designs Inc. ADV increased its stake in shares of Campbell Soup by 7.4% in the third quarter. Creative Financial Designs Inc. ADV now owns 4,225 shares of the company’s stock valued at $207,000 after buying an additional 290 shares in the last quarter. Principal Securities Inc. increased its stake 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 in the last quarter. HB Wealth Management LLC increased its stake in shares of Campbell Soup by 4.3% in the fourth quarter. HB Wealth Management LLC now owns 7,718 shares of the company’s stock valued at $323,000 after buying an additional 319 shares in the last quarter. Finally, Spire Wealth Management increased its stake in shares of Campbell Soup by 29.6% in the fourth quarter. Spire Wealth Management now owns 1,406 shares of the company’s stock valued at $59,000 after buying an additional 321 shares in the last quarter. 52.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Piper Sandler upgraded Campbell Soup from a “neutral” rating to an “overweight” rating and raised their target price for the company from $47.00 to $56.00 in a research note on Thursday, November 14th. Stifel Nicolaus lowered their price objective on Campbell Soup from $47.00 to $40.00 and set a “hold” rating for the company in a research report on Friday, January 24th. Wells Fargo & Company lowered their price objective on Campbell Soup from $45.00 to $43.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. DA Davidson reiterated a “neutral” rating and issued a $51.00 price objective on shares of Campbell Soup in a research report on Wednesday, December 4th. Finally, 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 report on Thursday, December 5th. Two investment 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 MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $50.17.

Campbell Soup Price Performance

Shares of CPB opened at $38.64 on Thursday. 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 stock has a market cap of $11.52 billion, a P/E ratio of 21.11, a price-to-earnings-growth ratio of 2.66 and a beta of 0.19. The stock’s 50-day moving average price is $39.77 and its two-hundred day moving average price is $44.99.

Campbell Soup (NASDAQ:CPB) last released its quarterly earnings data on Tuesday, December 3rd. The company reported $0.89 earnings per share for the quarter, beating 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%. On average, equities analysts predict that The Campbell Soup Company will post 3.15 earnings per share for the current year.

Campbell Soup Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Thursday, January 2nd were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 4.04%. The ex-dividend date of this dividend was Thursday, January 2nd. This is a boost from Campbell Soup’s previous quarterly dividend of $0.37. Campbell Soup’s payout ratio is 85.25%.

Insider Activity

In other Campbell Soup news, EVP Anthony Sanzio sold 2,000 shares of the business’s stock in a transaction that occurred 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 sale, 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 legal filing with the SEC, which is accessible through this link. 20.19% of the stock is currently 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.