Campbell Soup (NASDAQ:CPB) Sets New 1-Year Low After Insider Selling

Campbell Soup (NASDAQ:CPB)’s stock price hit a new 52-week low on Tuesday after an insider sold shares in the company. The stock traded as low as $40.26 and last traded at $40.45, with a volume of 229883 shares traded. The stock had previously closed at $40.50.

Specifically, EVP Anthony Sanzio sold 2,000 shares of Campbell Soup stock in a transaction that occurred on Friday, January 3rd. The shares were 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 of the company’s stock, 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 this hyperlink.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CPB. Argus raised Campbell Soup from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research report on Friday, September 20th. DA Davidson restated a “neutral” rating and issued a $51.00 price objective on shares of Campbell Soup in a research note on Wednesday, December 4th. Citigroup cut their target price on shares of Campbell Soup from $44.00 to $41.00 and set a “sell” rating for the company in a research report on Thursday, December 5th. TD Cowen boosted their price target on shares of Campbell Soup from $47.00 to $51.00 and gave the company a “hold” rating in a research report on Thursday, September 12th. Finally, Sanford C. Bernstein upgraded shares of Campbell Soup from a “market perform” rating to an “outperform” rating and upped their price target for the company from $55.00 to $58.00 in a research note on Monday, October 7th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Campbell Soup presently has a consensus rating of “Hold” and an average target price of $50.75.

Campbell Soup Stock Down 1.4 %

The stock has a 50-day moving average of $43.71 and a 200-day moving average of $46.62. 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 company has a market cap of $11.91 billion, a PE ratio of 21.83, a P/E/G ratio of 2.96 and a beta of 0.19.

Campbell Soup Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.39 per share. This is a positive change from Campbell Soup’s previous quarterly dividend of $0.37. The ex-dividend date is Thursday, January 2nd. This represents a $1.56 annualized dividend and a dividend yield of 3.90%. Campbell Soup’s payout ratio is presently 85.25%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. State Street Corp grew its stake in Campbell Soup by 3.1% in the 3rd quarter. State Street Corp now owns 10,048,679 shares of the company’s stock worth $491,581,000 after buying an additional 298,203 shares in the last quarter. Geode Capital Management LLC grew its position in Campbell Soup by 6.5% in the third quarter. Geode Capital Management LLC now owns 5,265,615 shares of the company’s stock worth $256,827,000 after acquiring an additional 322,951 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Campbell Soup by 14.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,876,253 shares of the company’s stock valued at $129,971,000 after acquiring an additional 363,736 shares during the last quarter. Franklin Resources Inc. raised its position in Campbell Soup by 1,593.8% during the third quarter. Franklin Resources Inc. now owns 1,904,440 shares of the company’s stock valued at $91,623,000 after purchasing an additional 1,792,005 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Campbell Soup by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,765,632 shares of the company’s stock worth $86,375,000 after purchasing an additional 12,822 shares during the last quarter. 52.35% of the stock is currently owned by institutional investors.

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.