Allspring Global Investments Holdings LLC Has $8.53 Million Stock Holdings in The Campbell Soup Company (NASDAQ:CPB)

Allspring Global Investments Holdings LLC cut its stake in shares of The Campbell Soup Company (NASDAQ:CPB) by 51.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 202,878 shares of the company’s stock after selling 214,835 shares during the period. Allspring Global Investments Holdings LLC owned 0.07% of Campbell Soup worth $8,527,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. State Street Corp increased its stake in shares of Campbell Soup by 3.1% during the third quarter. State Street Corp now owns 10,048,679 shares of the company’s stock worth $491,581,000 after purchasing an additional 298,203 shares during the period. Geode Capital Management LLC increased its stake in shares of Campbell Soup by 6.5% during the third quarter. Geode Capital Management LLC now owns 5,265,615 shares of the company’s stock worth $256,827,000 after purchasing an additional 322,951 shares during the period. Franklin Resources Inc. increased its stake 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. Charles Schwab Investment Management Inc. increased its stake in Campbell Soup by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,765,632 shares of the company’s stock worth $86,375,000 after acquiring an additional 12,822 shares during the period. Finally, Victory Capital Management Inc. increased its stake in Campbell Soup by 88.2% during the 3rd quarter. Victory Capital Management Inc. now owns 1,192,610 shares of the company’s stock worth $58,342,000 after acquiring an additional 558,944 shares during the period. 52.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CPB. Piper Sandler raised Campbell Soup from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $47.00 to $56.00 in a report on Thursday, November 14th. Stephens reissued an “overweight” rating on shares of Campbell Soup in a report on Wednesday, December 4th. Citigroup cut their target price on Campbell Soup from $44.00 to $41.00 and set a “sell” rating on the stock in a report on Thursday, December 5th. DA Davidson reaffirmed a “neutral” rating and set a $51.00 target price on shares of Campbell Soup in a report on Wednesday, December 4th. Finally, Stifel Nicolaus lowered their price objective 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. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, Campbell Soup has an average rating of “Hold” and an average target price of $50.17.

Campbell Soup Stock Performance

Shares of CPB opened at $38.16 on Wednesday. The Campbell Soup Company has a one year low of $36.92 and a one year high of $52.81. The company has a 50-day simple moving average of $39.97 and a two-hundred day simple moving average of $45.11. The firm has a market capitalization of $11.37 billion, a PE ratio of 20.85, a price-to-earnings-growth ratio of 2.59 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 (NASDAQ:CPB) last issued its quarterly earnings results on Tuesday, December 3rd. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.02. Campbell Soup had a net margin of 5.57% and a return on equity of 23.79%. On average, analysts anticipate that The Campbell Soup Company will post 3.15 EPS for the current fiscal year.

Campbell Soup Increases Dividend

The firm also recently announced 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 of this dividend 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 4.09%. Campbell Soup’s payout ratio is 85.25%.

Insider Transactions at Campbell Soup

In other news, EVP Anthony Sanzio sold 2,000 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $41.90, for a total value of $83,800.00. Following the sale, the executive vice president now directly owns 16,551 shares in the company, valued at $693,486.90. The trade was a 10.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 20.19% of the company’s stock.

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.