Campbell Soup (NASDAQ:CPB) Hits New 12-Month Low After Insider Selling

Campbell Soup (NASDAQ:CPB) hit a new 52-week low during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $40.26 and last traded at $40.45, with a volume of 229883 shares changing hands. The stock had previously closed at $40.50.

Specifically, EVP Anthony Sanzio sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $41.90, for a total transaction of $83,800.00. Following the transaction, the executive vice president now directly owns 16,551 shares of the company’s stock, valued at approximately $693,486.90. The trade was a 10.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analysts Set New Price Targets

CPB has been the subject of several research reports. Stephens reissued an “overweight” rating on shares of Campbell Soup in a report on Wednesday, December 4th. Wells Fargo & Company cut their target price on Campbell Soup from $45.00 to $43.00 and set an “equal weight” rating for the company in a research report on Tuesday. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $51.00 price objective on shares of Campbell Soup in a research report on Monday, December 2nd. Argus upgraded shares of 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, Piper Sandler upgraded shares of Campbell Soup from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $47.00 to $56.00 in a research report on Thursday, November 14th. 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $50.75.

Campbell Soup Stock Down 1.8 %

The stock has a fifty day moving average of $43.71 and a two-hundred day moving average of $46.62. The firm has a market capitalization of $11.69 billion, a price-to-earnings ratio of 21.44, a P/E/G ratio of 2.96 and a beta of 0.19. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.91 and a quick ratio of 0.50.

Campbell Soup Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Thursday, January 2nd will be issued a $0.39 dividend. This is a positive change from Campbell Soup’s previous quarterly dividend of $0.37. The ex-dividend date is Thursday, January 2nd. This represents a $1.56 annualized dividend and a yield of 3.98%. Campbell Soup’s payout ratio is presently 85.25%.

Institutional Investors Weigh In On Campbell Soup

A number of hedge funds have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Campbell Soup during the second quarter worth approximately $32,000. nVerses Capital LLC purchased a new stake in shares of Campbell Soup during the 3rd quarter valued at $34,000. Ashton Thomas Securities LLC bought a new stake in Campbell Soup in the third quarter worth about $39,000. Sentry Investment Management LLC purchased a new position in Campbell Soup in the second quarter valued at approximately $44,000. Finally, Friedenthal Financial bought a new stake in Campbell Soup in the 3rd quarter valued at about $48,000. 52.35% of the stock is currently owned by institutional investors.

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.