Tobam Sells 76,830 Shares of The Campbell Soup Company (NASDAQ:CPB)

Tobam cut its position in The Campbell Soup Company (NASDAQ:CPB) by 41.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 107,629 shares of the company’s stock after selling 76,830 shares during the period. Campbell Soup accounts for approximately 1.4% of Tobam’s investment portfolio, making the stock its 22nd biggest holding. Tobam’s holdings in Campbell Soup were worth $4,508,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. nVerses Capital LLC purchased a new position in Campbell Soup during the 3rd quarter worth $34,000. Ashton Thomas Securities LLC purchased a new stake in shares of Campbell Soup during the third quarter worth about $39,000. Friedenthal Financial acquired a new position in shares of Campbell Soup during the third quarter valued at about $48,000. Spire Wealth Management raised its position in shares of Campbell Soup by 29.6% in the 4th quarter. Spire Wealth Management now owns 1,406 shares of the company’s stock valued at $59,000 after purchasing an additional 321 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in Campbell Soup by 45.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,776 shares of the company’s stock worth $87,000 after purchasing an additional 552 shares in the last quarter. 52.35% of the stock is owned by hedge funds and other institutional investors.

Campbell Soup Stock Performance

CPB opened at $37.48 on Friday. The stock has a market cap of $11.17 billion, a P/E ratio of 20.48, a P/E/G ratio of 2.67 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. The firm has a fifty day moving average price of $40.99 and a 200 day moving average price of $45.61. The Campbell Soup Company has a 1 year low of $37.01 and a 1 year high of $52.81.

Campbell Soup (NASDAQ:CPB) last posted its earnings results on Tuesday, December 3rd. The company reported $0.89 earnings per share (EPS) 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%. Equities research analysts anticipate that The Campbell Soup Company will post 3.15 earnings per share for the current 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 paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 4.16%. This is an increase from Campbell Soup’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Thursday, January 2nd. Campbell Soup’s dividend payout ratio is presently 85.25%.

Insider Activity

In other Campbell Soup news, EVP Anthony Sanzio sold 2,000 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 16,551 shares in the company, valued at approximately $693,486.90. The trade was a 10.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 20.19% of the company’s stock.

Analysts Set New Price Targets

CPB has been the topic of a number of recent analyst reports. Royal Bank of Canada restated a “sector perform” rating and set a $51.00 price target on shares of Campbell Soup in a research note on Monday, December 2nd. Stifel Nicolaus cut their target price on Campbell Soup from $47.00 to $40.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. Citigroup lowered their price target on Campbell Soup from $44.00 to $41.00 and set a “sell” rating for the company in a research report on Thursday, December 5th. Piper Sandler raised Campbell Soup from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $47.00 to $56.00 in a report on Thursday, November 14th. Finally, Wells Fargo & Company decreased their target price on Campbell Soup from $45.00 to $43.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $50.17.

Campbell Soup Company 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.