Stifel Financial Corp Sells 41,791 Shares of Campbell Soup (NASDAQ:CPB)

Stifel Financial Corp trimmed its stake in shares of Campbell Soup (NASDAQ:CPB) by 41.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,283 shares of the company’s stock after selling 41,791 shares during the quarter. Stifel Financial Corp’s holdings in Campbell Soup were worth $2,851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in Campbell Soup during the 2nd quarter valued at about $32,000. nVerses Capital LLC purchased a new position in shares of Campbell Soup during the third quarter valued at approximately $34,000. Ashton Thomas Securities LLC bought a new position in shares of Campbell Soup during the third quarter valued at approximately $39,000. Rothschild Investment LLC purchased a new stake in Campbell Soup in the second quarter worth $44,000. Finally, Sentry Investment Management LLC bought a new stake in Campbell Soup in the second quarter valued at $44,000. 52.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CPB has been the subject of several research analyst reports. Wells Fargo & Company dropped their target price on shares of Campbell Soup from $51.00 to $45.00 and set an “equal weight” rating for the company in a research report on Thursday, December 5th. Sanford C. Bernstein raised Campbell Soup from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $55.00 to $58.00 in a research report on Monday, October 7th. Royal Bank of Canada reissued a “sector perform” rating and issued a $51.00 target price on shares of Campbell Soup in a research report on Monday, December 2nd. 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. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $51.00 price target on shares of Campbell Soup in a research note on Wednesday, December 4th. Two equities research 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 presently has a consensus rating of “Hold” and an average price target of $50.92.

Campbell Soup Stock Performance

Shares of Campbell Soup stock opened at $43.05 on Wednesday. The stock has a market cap of $12.83 billion, a price-to-earnings ratio of 23.39, a PEG ratio of 2.96 and a beta of 0.18. 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 1 year low of $40.26 and a 1 year high of $52.81. The firm’s 50-day moving average is $45.65 and its 200 day moving average is $46.89.

Campbell Soup Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Thursday, January 2nd will be given a dividend of $0.39 per share. The ex-dividend date is Thursday, January 2nd. This represents a $1.56 annualized dividend and a dividend yield of 3.62%. This is an increase from Campbell Soup’s previous quarterly dividend of $0.37. Campbell Soup’s dividend payout ratio (DPR) is 85.25%.

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.