Cerity Partners LLC Has $35.12 Million Stock Position in The Campbell Soup Company (NASDAQ:CPB)

Cerity Partners LLC boosted its holdings in The Campbell Soup Company (NASDAQ:CPB) by 294.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 837,301 shares of the company’s stock after purchasing an additional 625,010 shares during the quarter. Cerity Partners LLC’s holdings in Campbell Soup were worth $35,115,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Resona Asset Management Co. Ltd. acquired a new stake in Campbell Soup during the fourth quarter worth approximately $3,815,000. Savoir Faire Capital Management L.P. grew its stake in Campbell Soup by 226.6% during the fourth quarter. Savoir Faire Capital Management L.P. now owns 228,057 shares of the company’s stock worth $9,551,000 after buying an additional 158,230 shares in the last quarter. ExodusPoint Capital Management LP increased its stake in Campbell Soup by 34.6% in the fourth quarter. ExodusPoint Capital Management LP now owns 698,748 shares of the company’s stock valued at $29,264,000 after acquiring an additional 179,676 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Campbell Soup by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 5,323,332 shares of the company’s stock valued at $222,420,000 after purchasing an additional 57,717 shares during the last quarter. Finally, Rodgers Brothers Inc. lifted its position in shares of Campbell Soup by 1.8% during the 4th quarter. Rodgers Brothers Inc. now owns 28,000 shares of the company’s stock worth $1,173,000 after buying an additional 504 shares during the last quarter. Institutional investors own 52.35% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on CPB. Wells Fargo & Company decreased their target price on Campbell Soup from $43.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 6th. Consumer Edge reissued an “equal weight” rating on shares of Campbell Soup in a research note on Monday, March 17th. Stifel Nicolaus lowered their price objective on Campbell Soup from $47.00 to $40.00 and set a “hold” rating for the company in a research note on Friday, January 24th. Citigroup dropped their price objective on shares of Campbell Soup from $39.00 to $37.00 and set a “sell” rating for the company in a report on Thursday, March 6th. Finally, Jefferies Financial Group reduced their target price on shares of Campbell Soup from $42.00 to $40.00 and set a “hold” rating on the stock in a report on Wednesday, March 5th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Campbell Soup currently has a consensus rating of “Hold” and a consensus price target of $44.86.

Insider Activity at Campbell Soup

In related news, EVP Charles A. Brawley III sold 2,498 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $40.03, for a total transaction of $99,994.94. Following the transaction, the executive vice president now directly owns 37,590 shares of the company’s stock, valued at approximately $1,504,727.70. This represents a 6.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 20.19% of the stock is owned by corporate insiders.

Campbell Soup Price Performance

CPB stock opened at $38.09 on Tuesday. 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 $11.36 billion, a price-to-earnings ratio of 20.81, a PEG ratio of 2.71 and a beta of 0.19. The company’s fifty day simple moving average is $39.12 and its 200 day simple moving average is $42.50. 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 announced its quarterly earnings data on Wednesday, March 5th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Campbell Soup had a return on equity of 23.79% and a net margin of 5.57%. The company had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.74 billion. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, analysts expect that The Campbell Soup Company will post 3.15 earnings per share for the current year.

Campbell Soup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Thursday, April 3rd will be paid a $0.39 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $1.56 annualized dividend and a dividend yield of 4.10%. Campbell Soup’s dividend payout ratio is currently 90.17%.

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.