Hennion & Walsh Asset Management Inc. Raises Stock Holdings in Campbell Soup (NYSE:CPB)

Hennion & Walsh Asset Management Inc. grew its stake in Campbell Soup (NYSE:CPBFree Report) by 20.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,836 shares of the company’s stock after buying an additional 5,692 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Campbell Soup were worth $1,390,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CPB. Raymond James Financial Services Advisors Inc. increased its position in Campbell Soup by 29.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 29,150 shares of the company’s stock worth $1,299,000 after buying an additional 6,692 shares in the last quarter. HighTower Advisors LLC grew its position in shares of Campbell Soup by 60.0% during the first quarter. HighTower Advisors LLC now owns 20,855 shares of the company’s stock worth $932,000 after purchasing an additional 7,819 shares in the last quarter. Cetera Advisor Networks LLC grew its position in shares of Campbell Soup by 31.3% during the first quarter. Cetera Advisor Networks LLC now owns 11,020 shares of the company’s stock worth $491,000 after purchasing an additional 2,628 shares in the last quarter. MetLife Investment Management LLC grew its position in shares of Campbell Soup by 22.7% during the first quarter. MetLife Investment Management LLC now owns 54,864 shares of the company’s stock worth $2,445,000 after purchasing an additional 10,144 shares in the last quarter. Finally, Rhumbline Advisers grew its position in shares of Campbell Soup by 6.8% during the first quarter. Rhumbline Advisers now owns 319,394 shares of the company’s stock worth $14,235,000 after purchasing an additional 20,335 shares in the last quarter. Hedge funds and other institutional investors own 50.73% of the company’s stock.

Insider Buying and Selling

In related news, EVP Anthony Sanzio sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $44.31, for a total transaction of $132,930.00. Following the completion of the sale, the executive vice president now directly owns 14,238 shares of the company’s stock, valued at approximately $630,885.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 20.64% of the stock is owned by corporate insiders.

Campbell Soup Price Performance

NYSE:CPB opened at $43.42 on Friday. The firm has a market capitalization of $13.00 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 3.66 and a beta of 0.28. Campbell Soup has a 1 year low of $37.94 and a 1 year high of $56.04. The business has a 50 day simple moving average of $42.30 and a 200-day simple moving average of $42.64. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.97 and a quick ratio of 0.39.

Campbell Soup (NYSE:CPBGet Free Report) last posted its quarterly earnings data on Wednesday, December 6th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.52 billion. Campbell Soup had a return on equity of 23.71% and a net margin of 8.55%. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period last year, the company earned $1.02 EPS. Equities analysts forecast that Campbell Soup will post 3.09 EPS for the current year.

Campbell Soup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 29th. Investors of record on Thursday, January 4th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend is Wednesday, January 3rd. Campbell Soup’s dividend payout ratio is currently 55.85%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CPB. StockNews.com began coverage on Campbell Soup in a research report on Thursday, October 5th. They set a “hold” rating for the company. Piper Sandler increased their target price on Campbell Soup from $44.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, December 7th. Wells Fargo & Company started coverage on Campbell Soup in a research report on Tuesday, December 12th. They set an “equal weight” rating and a $47.00 target price for the company. Stephens started coverage on Campbell Soup in a research note on Friday, October 13th. They set an “overweight” rating and a $50.00 price target for the company. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $47.00 price target on shares of Campbell Soup in a research note on Thursday, December 7th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $47.13.

View Our Latest Stock Report on CPB

About Campbell Soup

(Free Report)

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.

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Institutional Ownership by Quarter for Campbell Soup (NYSE:CPB)

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