Royal Bank of Canada Sells 36,775 Shares of Campbell Soup (NYSE:CPB)

Royal Bank of Canada reduced its stake in Campbell Soup (NYSE:CPB – Get Rating) by 10.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 318,381 shares of the company’s stock after selling 36,775 shares during the period. Royal Bank of Canada owned approximately 0.11% of Campbell Soup worth $15,003,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Old North State Trust LLC bought a new stake in shares of Campbell Soup in the 3rd quarter worth about $25,000. EverSource Wealth Advisors LLC increased its holdings in shares of Campbell Soup by 121.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 536 shares of the company’s stock worth $26,000 after buying an additional 294 shares during the last quarter. Exos TFP Holdings LLC bought a new stake in shares of Campbell Soup in the 3rd quarter worth about $26,000. Parkside Financial Bank & Trust increased its holdings in shares of Campbell Soup by 149.8% in the 1st quarter. Parkside Financial Bank & Trust now owns 597 shares of the company’s stock worth $27,000 after buying an additional 358 shares during the last quarter. Finally, Beaird Harris Wealth Management LLC bought a new stake in shares of Campbell Soup in the 3rd quarter worth about $31,000. 50.39% of the stock is currently owned by institutional investors.

Insider Transactions at Campbell Soup

In other news, EVP Adam G. Ciongoli sold 37,354 shares of the company’s stock in a transaction that occurred on Wednesday, December 21st. The shares were sold at an average price of $56.86, for a total value of $2,123,948.44. Following the completion of the sale, the executive vice president now owns 99,385 shares of the company’s stock, valued at approximately $5,651,031.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Adam G. Ciongoli sold 37,354 shares of the stock in a transaction that occurred on Wednesday, December 21st. The shares were sold at an average price of $56.86, for a total transaction of $2,123,948.44. Following the completion of the sale, the executive vice president now owns 99,385 shares of the company’s stock, valued at $5,651,031.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Adam G. Ciongoli sold 44,232 shares of the stock in a transaction that occurred on Thursday, December 8th. The shares were sold at an average price of $56.46, for a total transaction of $2,497,338.72. Following the sale, the executive vice president now directly owns 136,739 shares of the company’s stock, valued at approximately $7,720,283.94. The disclosure for this sale can be found here. Corporate insiders own 21.05% of the company’s stock.

Campbell Soup Price Performance

Shares of CPB opened at $52.13 on Wednesday. The company has a 50 day moving average price of $53.20 and a 200-day moving average price of $51.86. Campbell Soup has a fifty-two week low of $41.72 and a fifty-two week high of $57.78. The stock has a market capitalization of $15.61 billion, a PE ratio of 19.82, a PEG ratio of 5.16 and a beta of 0.34. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.31 and a current ratio of 0.76.

Campbell Soup (NYSE:CPB – Get Rating) last announced its quarterly earnings results on Wednesday, December 7th. The company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.16. Campbell Soup had a net margin of 8.91% and a return on equity of 26.43%. The firm had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter in the prior year, the company earned $0.89 EPS. The company’s revenue was up 15.2% compared to the same quarter last year. Equities analysts predict that Campbell Soup will post 3 earnings per share for the current fiscal year.

Campbell Soup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 1st. Stockholders of record on Thursday, April 6th will be given a $0.37 dividend. The ex-dividend date of this dividend is Wednesday, April 5th. This represents a $1.48 annualized dividend and a dividend yield of 2.84%. Campbell Soup’s payout ratio is presently 56.27%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Credit Suisse Group boosted their target price on shares of Campbell Soup from $52.00 to $54.00 and gave the stock a “neutral” rating in a report on Thursday, December 8th. Royal Bank of Canada upped their price target on shares of Campbell Soup from $46.00 to $50.00 in a report on Thursday, December 8th. Evercore ISI upped their price target on shares of Campbell Soup to $53.00 in a report on Monday, December 12th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Campbell Soup from $50.00 to $53.00 and gave the company a “hold” rating in a report on Thursday, December 8th. Finally, Piper Sandler upped their price target on shares of Campbell Soup from $46.00 to $55.00 and gave the company a “neutral” rating in a report on Thursday, December 8th. Three research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $51.09.

Campbell Soup Profile

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Campbell Soup Co engages in the business of manufacturing and marketing food and beverage products. It operates under the Meals and Beverages, and Snacks segments. The Meals and Beverages segment includes soup, meals, and beverage products in retail and foodservice. The Snacks segment offers cookies, crackers, bakery, and frozen products.