Wells Fargo & Company Cuts Campbell Soup (NASDAQ:CPB) Price Target to $43.00

Campbell Soup (NASDAQ:CPB) had its price target decreased by Wells Fargo & Company from $45.00 to $43.00 in a research note published on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other analysts have also commented on CPB. DA Davidson reaffirmed a “neutral” rating and issued a $51.00 target price on shares of Campbell Soup in a research report on Wednesday, December 4th. Argus upgraded Campbell Soup from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a report on Friday, September 20th. Barclays cut their target price on Campbell Soup from $49.00 to $46.00 and set an “underweight” rating on the stock in a report on Friday, December 6th. Citigroup decreased their price target on shares of Campbell Soup from $44.00 to $41.00 and set a “sell” rating for the company in a research note on Thursday, December 5th. Finally, TD Cowen upped their price objective on shares of Campbell Soup from $47.00 to $51.00 and gave the stock a “hold” rating in a report on Thursday, September 12th. Two investment 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $50.75.

Campbell Soup Stock Down 1.8 %

Shares of NASDAQ CPB opened at $39.23 on Tuesday. The company has a quick ratio of 0.50, a current ratio of 0.91 and a debt-to-equity ratio of 1.74. The firm has a market cap of $11.69 billion, a PE ratio of 21.44, a P/E/G ratio of 2.96 and a beta of 0.19. The company’s fifty day simple moving average is $43.56 and its 200 day simple moving average is $46.57. Campbell Soup has a 12-month low of $38.88 and a 12-month high of $52.81.

Campbell Soup Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Thursday, January 2nd. This represents a $1.56 annualized dividend and a yield of 3.98%. This is a positive change from Campbell Soup’s previous quarterly dividend of $0.37. Campbell Soup’s dividend payout ratio (DPR) is 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 sale, 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 legal filing with the SEC, which is available through this link. Insiders own 20.19% of the company’s stock.

Hedge Funds Weigh In On Campbell Soup

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

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.