Everence Capital Management Inc. Invests $569,000 in Campbell Soup (NASDAQ:CPB)

Everence Capital Management Inc. acquired a new stake in Campbell Soup (NASDAQ:CPB) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 13,590 shares of the company’s stock, valued at approximately $569,000.

Other hedge funds have also added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Campbell Soup during the second quarter worth $32,000. nVerses Capital LLC bought a new position in Campbell Soup during the 3rd quarter worth about $34,000. Ashton Thomas Securities LLC acquired a new stake in shares of Campbell Soup in the 3rd quarter valued at about $39,000. Sentry Investment Management LLC bought a new stake in shares of Campbell Soup in the second quarter valued at about $44,000. Finally, Friedenthal Financial acquired a new position in shares of Campbell Soup during the third quarter worth about $48,000. Institutional investors and hedge funds own 52.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Argus upgraded Campbell Soup from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research note on Friday, September 20th. Stifel Nicolaus cut their price objective on shares of Campbell Soup from $50.00 to $47.00 and set a “hold” rating on the stock in a research report on Thursday, December 5th. Stephens reaffirmed an “overweight” rating on shares of Campbell Soup in a research report on Wednesday, December 4th. Piper Sandler raised shares of Campbell Soup from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $47.00 to $56.00 in a research report on Thursday, November 14th. Finally, Barclays decreased their price objective on Campbell Soup from $49.00 to $46.00 and set an “underweight” rating for the company in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Campbell Soup presently has an average rating of “Hold” and a consensus target price of $50.92.

Campbell Soup Stock Performance

CPB opened at $41.74 on Friday. The company has a quick ratio of 0.50, a current ratio of 0.91 and a debt-to-equity ratio of 1.74. Campbell Soup has a 12-month low of $40.26 and a 12-month high of $52.81. The business has a 50 day moving average of $43.99 and a 200-day moving average of $46.66. The stock has a market cap of $12.44 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 2.96 and a beta of 0.19.

Campbell Soup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Thursday, January 2nd will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 3.74%. This is a boost from Campbell Soup’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Thursday, January 2nd. Campbell Soup’s payout ratio is 85.25%.

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.