Clifford Swan Investment Counsel LLC Reduces Stock Holdings in The Campbell Soup Company (NASDAQ:CPB)

Clifford Swan Investment Counsel LLC reduced its holdings in The Campbell Soup Company (NASDAQ:CPB) by 7.5% during the 4th quarter, Holdings Channel reports. The fund owned 8,370 shares of the company’s stock after selling 683 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in Campbell Soup were worth $351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in CPB. Franklin Resources Inc. boosted its holdings in 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 buying an additional 1,792,005 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Campbell Soup by 88.2% during the third quarter. Victory Capital Management Inc. now owns 1,192,610 shares of the company’s stock worth $58,342,000 after buying an additional 558,944 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Campbell Soup by 6.1% during the fourth quarter. Van ECK Associates Corp now owns 9,247,213 shares of the company’s stock worth $387,273,000 after buying an additional 531,281 shares in the last quarter. Galvin Gaustad & Stein LLC purchased a new stake in Campbell Soup during the fourth quarter worth $14,769,000. Finally, Geode Capital Management LLC boosted its holdings in 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 buying an additional 322,951 shares in the last quarter. 52.35% of the stock is owned by hedge funds and other institutional investors.

Campbell Soup Price Performance

Shares of NASDAQ CPB opened at $40.06 on Monday. The firm has a 50-day simple moving average of $39.50 and a 200-day simple moving average of $44.58. The stock has a market capitalization of $11.94 billion, a price-to-earnings ratio of 21.89, a price-to-earnings-growth ratio of 2.71 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 52 week low of $36.92 and a 52 week high of $52.81.

Campbell Soup (NASDAQ:CPB) last issued its 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 net margin of 5.57% and a return on equity of 23.79%. On average, equities analysts predict that The Campbell Soup Company will post 3.15 earnings per share for the current fiscal year.

Campbell Soup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Thursday, April 3rd will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date of this dividend is Thursday, April 3rd. Campbell Soup’s dividend payout ratio (DPR) is 85.25%.

Insider Activity

In related news, EVP Anthony Sanzio sold 2,000 shares of the company’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 completion of the sale, the executive vice president now owns 16,551 shares of the company’s stock, valued at approximately $693,486.90. This represents a 10.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 20.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Piper Sandler raised shares of Campbell Soup from a “neutral” rating to an “overweight” rating and increased their price target for the stock 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. Royal Bank of Canada reissued a “sector perform” rating and set a $51.00 price target on shares of Campbell Soup in a report on Monday, December 2nd. Citigroup lowered their price target on shares of Campbell Soup from $44.00 to $41.00 and set a “sell” rating on the stock in a report on Thursday, December 5th. Finally, Barclays reduced their price objective on shares of Campbell Soup from $49.00 to $46.00 and set an “underweight” rating for the company in a research report on Friday, December 6th. Three 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 stock. Based on data from MarketBeat.com, Campbell Soup has an average rating of “Hold” and an average price target 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.