The Campbell Soup Company (NASDAQ:CPB) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lowered its position in The Campbell Soup Company (NASDAQ:CPB) by 3.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 41,945 shares of the company’s stock after selling 1,380 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Campbell Soup were worth $1,757,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Ballentine Partners LLC increased its stake in shares of Campbell Soup by 2.8% during the fourth quarter. Ballentine Partners LLC now owns 9,646 shares of the company’s stock worth $404,000 after purchasing an additional 262 shares in the last quarter. Creative Financial Designs Inc. ADV increased its stake in shares of Campbell Soup by 7.4% during the third quarter. Creative Financial Designs Inc. ADV now owns 4,225 shares of the company’s stock worth $207,000 after purchasing an additional 290 shares in the last quarter. Principal Securities Inc. increased its stake in shares of Campbell Soup by 45.5% during the fourth quarter. Principal Securities Inc. now owns 927 shares of the company’s stock worth $39,000 after purchasing an additional 290 shares in the last quarter. HB Wealth Management LLC increased its stake in shares of Campbell Soup by 4.3% during the fourth quarter. HB Wealth Management LLC now owns 7,718 shares of the company’s stock worth $323,000 after purchasing an additional 319 shares in the last quarter. Finally, Spire Wealth Management increased its stake in shares of Campbell Soup by 29.6% during the fourth quarter. Spire Wealth Management now owns 1,406 shares of the company’s stock worth $59,000 after purchasing an additional 321 shares in the last quarter. Institutional investors and hedge funds own 52.35% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on CPB shares. Stifel Nicolaus cut their target price on shares of Campbell Soup from $47.00 to $40.00 and set a “hold” rating for the company in a research note on Friday, January 24th. DA Davidson reaffirmed a “neutral” rating and set a $51.00 price objective on shares of Campbell Soup in a research note on Wednesday, December 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $51.00 price objective on shares of Campbell Soup in a research note on Monday, December 2nd. Stephens reaffirmed an “overweight” rating on shares of Campbell Soup in a research note on Wednesday, December 4th. Finally, Piper Sandler raised shares of Campbell Soup from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $47.00 to $56.00 in a research note on Thursday, November 14th. Two 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $50.17.

Insider Transactions at Campbell Soup

In other Campbell Soup news, EVP Anthony Sanzio sold 2,000 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $41.90, for a total transaction of $83,800.00. Following the sale, the executive vice president now directly owns 16,551 shares in the company, valued at $693,486.90. This represents a 10.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 20.19% of the company’s stock.

Campbell Soup Stock Performance

NASDAQ:CPB opened at $38.64 on Thursday. 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 firm has a market capitalization of $11.52 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 2.66 and a beta of 0.19. The company’s 50-day moving average is $39.77 and its two-hundred day moving average is $44.99. The Campbell Soup Company has a 1-year low of $36.92 and a 1-year high of $52.81.

Campbell Soup (NASDAQ:CPB) last issued its quarterly earnings data on Tuesday, December 3rd. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.87 by $0.02. Campbell Soup had a net margin of 5.57% and a return on equity of 23.79%. Analysts forecast that The Campbell Soup Company will post 3.15 EPS for the current year.

Campbell Soup Increases Dividend

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