Campbell Soup (NASDAQ:CPB) Given New $43.00 Price Target at Wells Fargo & Company

Campbell Soup (NASDAQ:CPB) had its price objective reduced by Wells Fargo & Company from $45.00 to $43.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an equal weight rating on the stock.

CPB has been the topic of a number of other research reports. Royal Bank of Canada restated a “sector perform” rating and set a $51.00 price target on shares of Campbell Soup in a research report on Monday, December 2nd. Stephens reissued an “overweight” rating on shares of Campbell Soup in a report on Wednesday, December 4th. TD Cowen upped their target price on Campbell Soup from $47.00 to $51.00 and gave the stock a “hold” rating in a research note on Thursday, September 12th. Citigroup decreased their price target on shares of Campbell Soup from $44.00 to $41.00 and set a “sell” rating on the stock in a research note on Thursday, December 5th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Campbell Soup from $55.00 to $57.00 and gave the stock an “overweight” rating in a report on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $50.75.

Campbell Soup Stock Performance

Campbell Soup stock opened at $39.23 on Tuesday. Campbell Soup has a fifty-two week low of $38.88 and a fifty-two week high of $52.81. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.50 and a current ratio of 0.91. The stock has a market cap of $11.69 billion, a P/E ratio of 21.44, a price-to-earnings-growth ratio of 2.96 and a beta of 0.19. The firm’s fifty day moving average price is $43.56 and its 200-day moving average price is $46.57.

Campbell Soup Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Thursday, January 2nd will be paid a $0.39 dividend. 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. This represents a $1.56 annualized dividend and a dividend yield of 3.98%. Campbell Soup’s dividend payout ratio (DPR) is presently 85.25%.

Insider Buying and Selling at Campbell Soup

In other Campbell Soup news, EVP Anthony Sanzio sold 2,000 shares of the business’s stock in a transaction 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 20.19% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Campbell Soup

Several institutional investors and hedge funds have recently modified their holdings of CPB. State Street Corp raised its stake in Campbell Soup by 3.1% in the third quarter. State Street Corp now owns 10,048,679 shares of the company’s stock worth $491,581,000 after buying an additional 298,203 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Campbell Soup by 6.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,265,615 shares of the company’s stock worth $256,827,000 after acquiring an additional 322,951 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Campbell Soup by 14.5% in 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 period. Franklin Resources Inc. boosted its position in shares of Campbell Soup by 1,593.8% during the third quarter. Franklin Resources Inc. now owns 1,904,440 shares of the company’s stock valued at $91,623,000 after purchasing an additional 1,792,005 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Campbell Soup by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,765,632 shares of the company’s stock worth $86,375,000 after purchasing an additional 12,822 shares during the period. 52.35% of the stock is owned by hedge funds and other 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.