Diversified Trust Co cut its position in shares of Campbell Soup (NASDAQ:CPB – Free Report) by 0.3% during the 4th quarter, Holdings Channel reports. The firm owned 87,586 shares of the company’s stock after selling 259 shares during the quarter. Diversified Trust Co’s holdings in Campbell Soup were worth $3,668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently modified their holdings of CPB. State Street Corp raised its position in shares of Campbell Soup by 3.1% in the third quarter. State Street Corp now owns 10,048,679 shares of the company’s stock valued at $491,581,000 after purchasing an additional 298,203 shares during the period. Geode Capital Management LLC grew its stake in Campbell Soup by 6.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,265,615 shares of the company’s stock valued at $256,827,000 after buying an additional 322,951 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Campbell Soup by 14.5% in the 2nd 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 period. Franklin Resources Inc. lifted 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 worth $91,623,000 after acquiring an additional 1,792,005 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 acquiring an additional 12,822 shares during the period. 52.35% of the stock is owned by institutional investors.
Insider Transactions at Campbell Soup
In other news, EVP Anthony Sanzio sold 2,000 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 16,551 shares in the company, valued at approximately $693,486.90. This represents a 10.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 20.19% of the company’s stock.
Campbell Soup Price Performance
Campbell Soup Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.39 per share. This is an increase from Campbell Soup’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $1.56 annualized dividend and a yield of 3.90%. Campbell Soup’s payout ratio is presently 85.25%.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on CPB. Piper Sandler raised Campbell Soup from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $47.00 to $56.00 in a report on Thursday, November 14th. Stephens reissued an “overweight” rating on shares of Campbell Soup in a report on Wednesday, December 4th. Wells Fargo & Company decreased their price target on shares of Campbell Soup from $45.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Sanford C. Bernstein upgraded shares of Campbell Soup from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $55.00 to $58.00 in a research note on Monday, October 7th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $51.00 target price on shares of Campbell Soup in a research report on Monday, December 2nd. Two 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $50.75.
Check Out Our Latest Stock Report on CPB
Campbell Soup 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.
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