State of Alaska Department of Revenue Has $1.94 Million Stock Holdings in The Campbell Soup Company (NASDAQ:CPB)

State of Alaska Department of Revenue increased its stake in shares of The Campbell Soup Company (NASDAQ:CPB) by 102.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,398 shares of the company’s stock after buying an additional 23,510 shares during the period. State of Alaska Department of Revenue’s holdings in Campbell Soup were worth $1,943,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Franklin Resources Inc. raised 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 worth $91,623,000 after acquiring an additional 1,792,005 shares during the last quarter. Raymond James Trust N.A. lifted its position in 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 during the period. FMR LLC boosted its stake in shares of Campbell Soup by 34.2% in the 3rd quarter. FMR LLC now owns 165,494 shares of the company’s stock valued at $8,096,000 after purchasing an additional 42,216 shares during the last quarter. Centiva Capital LP acquired a new stake in shares of Campbell Soup during the 3rd quarter worth approximately $2,806,000. Finally, Smith Group Asset Management LLC bought a new stake in shares of Campbell Soup during the fourth quarter worth approximately $293,000. Institutional investors own 52.35% of the company’s stock.

Insider Transactions at Campbell Soup

In other news, EVP Anthony Sanzio sold 2,000 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $41.90, for a total value of $83,800.00. Following the completion of the transaction, the executive vice president now owns 16,551 shares in the company, valued at $693,486.90. This trade represents a 10.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 20.19% of the stock is currently owned by insiders.

Campbell Soup Trading Up 1.5 %

Shares of NASDAQ:CPB opened at $37.95 on Wednesday. The firm has a market cap of $11.31 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 2.59 and a beta of 0.19. 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 Campbell Soup Company has a 12 month low of $36.92 and a 12 month high of $52.81. The company’s fifty day simple moving average is $40.31 and its 200 day simple moving average is $45.36.

Campbell Soup (NASDAQ:CPB) last issued its quarterly earnings results on Tuesday, December 3rd. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.02. Campbell Soup had a return on equity of 23.79% and a net margin of 5.57%. As a group, research analysts forecast that The Campbell Soup Company will post 3.15 EPS for the current fiscal year.

Campbell Soup Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Thursday, January 2nd were issued a $0.39 dividend. The ex-dividend date was Thursday, January 2nd. This is an increase from Campbell Soup’s previous quarterly dividend of $0.37. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.11%. Campbell Soup’s dividend payout ratio (DPR) is 85.25%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CPB. Stephens reaffirmed an “overweight” rating on shares of Campbell Soup in a research note on Wednesday, December 4th. DA Davidson reaffirmed a “neutral” rating and set a $51.00 price objective on shares of Campbell Soup in a research note on Wednesday, December 4th. Piper Sandler raised Campbell Soup from a “neutral” rating to an “overweight” rating and increased their target price for the company from $47.00 to $56.00 in a research note on Thursday, November 14th. Stifel Nicolaus decreased their target price on Campbell Soup from $47.00 to $40.00 and set a “hold” rating for the company in a research report on Friday, January 24th. Finally, Barclays cut their price target on shares of Campbell Soup from $49.00 to $46.00 and set an “underweight” rating on the stock in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $50.17.

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.