Premier Path Wealth Partners LLC Raises Stock Position in Campbell Soup (NASDAQ:CPB)

Premier Path Wealth Partners LLC raised its holdings in Campbell Soup (NASDAQ:CPB) by 3.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 26,079 shares of the company’s stock after purchasing an additional 983 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Campbell Soup were worth $1,092,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Avanza Fonder AB purchased a new stake in Campbell Soup during the fourth quarter worth $768,000. Goldstone Financial Group LLC increased its stake in shares of Campbell Soup by 22.2% in the 4th quarter. Goldstone Financial Group LLC now owns 9,611 shares of the company’s stock valued at $403,000 after purchasing an additional 1,748 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Campbell Soup by 11.0% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 29,087 shares of the company’s stock worth $1,218,000 after purchasing an additional 2,886 shares during the period. Assenagon Asset Management S.A. boosted its position in Campbell Soup by 5.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 13,331 shares of the company’s stock worth $558,000 after purchasing an additional 703 shares in the last quarter. Finally, Board of the Pension Protection Fund purchased a new stake in shares of Campbell Soup in the fourth quarter valued at approximately $745,000. 52.35% of the stock is owned by institutional investors and hedge funds.

Campbell Soup Stock Down 0.7 %

Shares of NASDAQ:CPB opened at $38.98 on Friday. Campbell Soup has a 52-week low of $37.61 and a 52-week high of $52.81. 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 business has a fifty day moving average of $42.53 and a two-hundred day moving average of $46.25. The stock has a market cap of $11.62 billion, a P/E ratio of 21.30, a PEG ratio of 2.60 and a beta of 0.19.

Campbell Soup Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is 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 yield of 4.00%. Campbell Soup’s payout ratio is 85.25%.

Wall Street Analyst Weigh In

Several brokerages recently commented on CPB. Argus raised shares of Campbell Soup from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a report on Friday, September 20th. Piper Sandler raised shares of Campbell Soup from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $47.00 to $56.00 in a research note on Thursday, November 14th. Stifel Nicolaus decreased their price target on shares of Campbell Soup from $50.00 to $47.00 and set a “hold” rating on the stock in a research note on Thursday, December 5th. StockNews.com upgraded Campbell Soup from a “sell” rating to a “hold” rating in a research note on Thursday, September 26th. Finally, DA Davidson restated a “neutral” rating and issued a $51.00 target price on shares of Campbell Soup in a research report on Wednesday, December 4th. Two equities 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 company currently has an average rating of “Hold” and a consensus price target of $50.75.

Insider Activity at Campbell Soup

In other news, EVP Anthony Sanzio sold 2,000 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $41.90, for a total transaction of $83,800.00. Following the completion of the transaction, the executive vice president now directly owns 16,551 shares in the company, valued at approximately $693,486.90. This represents a 10.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 20.19% of the stock is currently owned by insiders.

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.