Allspring Global Investments Holdings LLC Sells 214,835 Shares of The Campbell Soup Company (NASDAQ:CPB)

Allspring Global Investments Holdings LLC lowered its stake in The Campbell Soup Company (NASDAQ:CPB) by 51.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 202,878 shares of the company’s stock after selling 214,835 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Campbell Soup were worth $8,527,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CPB. nVerses Capital LLC purchased a new position in shares of Campbell Soup in the third quarter worth $34,000. Bleakley Financial Group LLC grew its position in shares of Campbell Soup by 38.7% in the third quarter. Bleakley Financial Group LLC now owns 6,582 shares of the company’s stock valued at $322,000 after purchasing an additional 1,835 shares during the period. Raymond James & Associates grew its position in shares of Campbell Soup by 4.3% in the third quarter. Raymond James & Associates now owns 487,936 shares of the company’s stock valued at $23,870,000 after purchasing an additional 19,934 shares during the period. Venture Visionary Partners LLC grew its position in shares of Campbell Soup by 32.4% in the third quarter. Venture Visionary Partners LLC now owns 7,598 shares of the company’s stock valued at $372,000 after purchasing an additional 1,860 shares during the period. Finally, Signaturefd LLC grew its position in shares of Campbell Soup by 19.6% in the third quarter. Signaturefd LLC now owns 16,599 shares of the company’s stock valued at $812,000 after purchasing an additional 2,719 shares during the period. Hedge funds and other institutional investors own 52.35% of the company’s stock.

Insider Buying and Selling

In related news, EVP Anthony Sanzio sold 2,000 shares of the company’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 value of $83,800.00. Following the sale, the executive vice president now owns 16,551 shares in the company, valued at $693,486.90. This represents a 10.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 20.19% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on CPB shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $51.00 target price on shares of Campbell Soup in a research report on Monday, December 2nd. Wells Fargo & Company cut their target price on shares of Campbell Soup from $45.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Piper Sandler upgraded shares of Campbell Soup from a “neutral” rating to an “overweight” rating and upped their target price for the company from $47.00 to $56.00 in a report on Thursday, November 14th. Stifel Nicolaus decreased their price target on shares of Campbell Soup from $47.00 to $40.00 and set a “hold” rating for the company in a research note on Friday, January 24th. Finally, Stephens reiterated an “overweight” rating on shares of Campbell Soup in a research note on Wednesday, December 4th. Two 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, the company presently has an average rating of “Hold” and a consensus target price of $50.17.

Campbell Soup Stock Down 1.2 %

Shares of CPB stock opened at $38.16 on Wednesday. The stock has a 50 day moving average of $39.97 and a 200-day moving average of $45.11. 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 firm has a market cap of $11.37 billion, a PE ratio of 20.85, a price-to-earnings-growth ratio of 2.59 and a beta of 0.19. The Campbell Soup Company has a 12 month low of $36.92 and a 12 month high of $52.81.

Campbell Soup (NASDAQ:CPB) last issued its earnings results on Tuesday, December 3rd. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.02. Campbell Soup had a return on equity of 23.79% and a net margin of 5.57%. On average, equities analysts predict that The Campbell Soup Company will post 3.15 EPS for the current year.

Campbell Soup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Thursday, January 2nd were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 4.09%. This is a boost from Campbell Soup’s previous quarterly dividend of $0.37. The ex-dividend date was Thursday, January 2nd. Campbell Soup’s payout ratio is presently 85.25%.

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.