Manning & Napier Advisors LLC Lowers Stock Holdings in Campbell Soup (NASDAQ:CPB)

Manning & Napier Advisors LLC lowered its holdings in shares of Campbell Soup (NASDAQ:CPB) by 39.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,384 shares of the company’s stock after selling 30,609 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Campbell Soup were worth $1,984,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Franklin Resources Inc. lifted its position in shares of Campbell Soup by 1,593.8% in the third quarter. Franklin Resources Inc. now owns 1,904,440 shares of the company’s stock valued at $91,623,000 after acquiring an additional 1,792,005 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Campbell Soup by 88.2% in the third quarter. Victory Capital Management Inc. now owns 1,192,610 shares of the company’s stock valued at $58,342,000 after acquiring an additional 558,944 shares in the last quarter. Galvin Gaustad & Stein LLC acquired a new stake in shares of Campbell Soup in the fourth quarter valued at approximately $14,769,000. Geode Capital Management LLC increased its holdings in shares of Campbell Soup by 6.5% in the third quarter. Geode Capital Management LLC now owns 5,265,615 shares of the company’s stock valued at $256,827,000 after purchasing an additional 322,951 shares during the last quarter. Finally, State Street Corp increased its holdings 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 last quarter. Hedge funds and other institutional investors own 52.35% of the company’s stock.

Campbell Soup Price Performance

Shares of NASDAQ:CPB opened at $39.62 on Friday. Campbell Soup has a 12 month low of $37.61 and a 12 month high of $52.81. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.91 and a quick ratio of 0.50. The business’s 50 day simple moving average is $41.63 and its 200-day simple moving average is $45.87. The firm has a market capitalization of $11.81 billion, a price-to-earnings ratio of 21.65, a price-to-earnings-growth ratio of 2.64 and a beta of 0.19.

Campbell Soup (NASDAQ:CPB) last posted its earnings results on Tuesday, December 3rd. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.02. Campbell Soup had a return on equity of 23.79% and a net margin of 5.57%. As a group, equities analysts forecast that Campbell Soup will post 3.15 earnings per share for the current fiscal year.

Campbell Soup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Thursday, January 2nd were paid a $0.39 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $1.56 dividend on an annualized basis and a yield of 3.94%. This is a positive change from Campbell Soup’s previous quarterly dividend of $0.37. Campbell Soup’s dividend payout ratio is presently 85.25%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CPB shares. Stephens reissued an “overweight” rating on shares of Campbell Soup in a research note on Wednesday, December 4th. Piper Sandler raised Campbell Soup from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $47.00 to $56.00 in a research note on Thursday, November 14th. 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. Stifel Nicolaus cut their target price on Campbell Soup from $47.00 to $40.00 and set a “hold” rating for the company in a research note on Friday, January 24th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $50.17.

Insiders Place Their Bets

In related 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 sale, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 20.19% of the company’s stock.

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.