Principal Financial Group Inc. Has $11.12 Million Position in The Campbell Soup Company (NASDAQ:CPB)

Principal Financial Group Inc. lessened its position in The Campbell Soup Company (NASDAQ:CPB) by 4.7% during the 4th quarter, Holdings Channel reports. The firm owned 265,496 shares of the company’s stock after selling 13,111 shares during the quarter. Principal Financial Group Inc.’s holdings in Campbell Soup were worth $11,119,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Assenagon Asset Management S.A. boosted its holdings in shares of Campbell Soup by 11.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 12,628 shares of the company’s stock worth $618,000 after acquiring an additional 1,324 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Campbell Soup by 55.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,696 shares of the company’s stock worth $725,000 after purchasing an additional 5,268 shares in the last quarter. PFG Investments LLC acquired a new position in Campbell Soup in the third quarter worth $228,000. State of Alaska Department of Revenue grew its holdings in shares of Campbell Soup by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 22,888 shares of the company’s stock worth $1,119,000 after purchasing an additional 1,550 shares during the last quarter. Finally, abrdn plc increased its stake in shares of Campbell Soup by 2.3% in the third quarter. abrdn plc now owns 394,538 shares of the company’s stock valued at $19,257,000 after buying an additional 8,866 shares in the last quarter. Institutional investors own 52.35% of the company’s stock.

Insiders Place Their Bets

In other Campbell Soup news, EVP Anthony Sanzio sold 2,000 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $41.90, for a total value of $83,800.00. Following the completion of the transaction, the executive vice president now directly owns 16,551 shares of the company’s stock, valued at approximately $693,486.90. The trade was a 10.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 20.19% of the company’s stock.

Campbell Soup Stock Down 0.5 %

Shares of Campbell Soup stock opened at $39.85 on Friday. The business has a fifty day simple moving average of $39.57 and a 200 day simple moving average of $44.70. The stock has a market cap of $11.88 billion, a PE ratio of 21.78, 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 12 month low of $36.92 and a 12 month 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 return on equity of 23.79% and a net margin of 5.57%. Research analysts predict that The Campbell Soup Company will post 3.15 EPS for the current year.

Campbell Soup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Thursday, April 3rd will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 3.91%. The ex-dividend date of this dividend is Thursday, April 3rd. Campbell Soup’s payout ratio is presently 85.25%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Piper Sandler upgraded shares of Campbell Soup from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $47.00 to $56.00 in a research report on Thursday, November 14th. Stifel Nicolaus reduced their target price on shares of Campbell Soup from $47.00 to $40.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. Royal Bank of Canada reissued a “sector perform” rating and issued a $51.00 price target on shares of Campbell Soup in a report on Monday, December 2nd. Stephens reaffirmed an “overweight” rating on shares of Campbell Soup in a report on Wednesday, December 4th. Finally, Citigroup decreased their price objective on Campbell Soup from $44.00 to $41.00 and set a “sell” rating on the stock in a research report on Thursday, December 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $50.17.

Campbell Soup 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.