GAMMA Investing LLC Sells 6,942 Shares of Campbell Soup (NASDAQ:CPB)

GAMMA Investing LLC cut its holdings in Campbell Soup (NASDAQ:CPB) by 47.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,568 shares of the company’s stock after selling 6,942 shares during the period. GAMMA Investing LLC’s holdings in Campbell Soup were worth $317,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Franklin Resources Inc. lifted its position in Campbell Soup by 1,593.8% in the third quarter. Franklin Resources Inc. now owns 1,904,440 shares of the company’s stock worth $91,623,000 after buying an additional 1,792,005 shares during the last quarter. Raymond James Trust N.A. raised its stake in shares of Campbell Soup by 43.8% in the third quarter. Raymond James Trust N.A. now owns 9,228 shares of the company’s stock valued at $451,000 after acquiring an additional 2,809 shares during the period. FMR LLC lifted its holdings in shares of Campbell Soup by 34.2% in the 3rd quarter. FMR LLC now owns 165,494 shares of the company’s stock worth $8,096,000 after acquiring an additional 42,216 shares during the last quarter. Centiva Capital LP purchased a new position in shares of Campbell Soup during the 3rd quarter worth about $2,806,000. Finally, Dimensional Fund Advisors LP grew its holdings in Campbell Soup by 14.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,876,253 shares of the company’s stock valued at $129,971,000 after purchasing an additional 363,736 shares during the last quarter. 52.35% of the stock is currently owned by hedge funds and other institutional investors.

Campbell Soup Price Performance

NASDAQ CPB opened at $40.50 on Tuesday. The company has a market cap of $12.07 billion, a PE ratio of 22.13, a P/E/G ratio of 2.96 and a beta of 0.19. The firm’s 50 day moving average price is $43.85 and its 200-day moving average price is $46.66. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.50 and a current ratio of 0.91. Campbell Soup has a 52-week low of $40.26 and a 52-week high of $52.81.

Campbell Soup Increases Dividend

The business also recently announced 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 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend is Thursday, January 2nd. This is a boost from Campbell Soup’s previous quarterly dividend of $0.37. Campbell Soup’s dividend payout ratio (DPR) is 85.25%.

Insider Transactions at Campbell Soup

In other news, 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 transaction, the executive vice president now owns 16,551 shares of the company’s stock, valued at $693,486.90. The trade was a 10.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 20.19% of the company’s stock.

Analyst Upgrades and Downgrades

CPB has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Campbell Soup from $55.00 to $57.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 11th. DA Davidson reissued a “neutral” rating and set a $51.00 price target on shares of Campbell Soup in a research note on Wednesday, December 4th. StockNews.com raised Campbell Soup from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. Argus upgraded 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. 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 stock from $55.00 to $58.00 in a report on Monday, October 7th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $50.92.

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.