QRG Capital Management Inc. Sells 1,380 Shares of The Campbell Soup Company (NASDAQ:CPB)

QRG Capital Management Inc. lowered its holdings in shares of The Campbell Soup Company (NASDAQ:CPB) by 8.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 14,343 shares of the company’s stock after selling 1,380 shares during the period. QRG Capital Management Inc.’s holdings in Campbell Soup were worth $601,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Ballentine Partners LLC boosted its stake in shares of Campbell Soup by 2.8% during the 4th quarter. Ballentine Partners LLC now owns 9,646 shares of the company’s stock worth $404,000 after acquiring an additional 262 shares during the period. Principal Securities Inc. lifted its holdings in Campbell Soup by 45.5% during the 4th quarter. Principal Securities Inc. now owns 927 shares of the company’s stock valued at $39,000 after purchasing an additional 290 shares during the last quarter. Ascent Wealth Partners LLC boosted its position in Campbell Soup by 1.5% during the fourth quarter. Ascent Wealth Partners LLC now owns 20,176 shares of the company’s stock worth $845,000 after purchasing an additional 306 shares during the period. HB Wealth Management LLC increased its holdings in shares of Campbell Soup by 4.3% in the fourth quarter. HB Wealth Management LLC now owns 7,718 shares of the company’s stock valued at $323,000 after purchasing an additional 319 shares during the last quarter. Finally, Spire Wealth Management raised its position in shares of Campbell Soup by 29.6% in the fourth 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 period. Institutional investors and hedge funds own 52.35% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Barclays reduced their target price on shares of Campbell Soup from $49.00 to $46.00 and set an “underweight” rating for the company in a report on Friday, December 6th. Stifel Nicolaus decreased 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. BNP Paribas upgraded Campbell Soup to a “strong sell” rating in a research note on Wednesday, February 26th. Royal Bank of Canada restated a “sector perform” rating and issued a $51.00 price target on shares of Campbell Soup in a research note on Monday, December 2nd. Finally, Piper Sandler upgraded Campbell Soup from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $47.00 to $56.00 in a research report on Thursday, November 14th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $50.17.

Campbell Soup Stock Performance

NASDAQ:CPB opened at $40.33 on Wednesday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.50 and a current ratio of 0.91. The Campbell Soup Company has a fifty-two week low of $36.92 and a fifty-two week high of $52.81. The company has a market cap of $12.02 billion, a price-to-earnings ratio of 22.04, a PEG ratio of 2.71 and a beta of 0.19. The stock has a fifty day moving average price of $39.50 and a 200-day moving average price of $44.49.

Campbell Soup (NASDAQ:CPB) last announced its quarterly earnings data 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 net margin of 5.57% and a return on equity of 23.79%. As a group, equities analysts anticipate that The Campbell Soup Company will post 3.15 EPS for the current fiscal year.

Campbell Soup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Thursday, April 3rd will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.56 annualized dividend and a dividend yield of 3.87%. Campbell Soup’s dividend payout ratio is 85.25%.

Insider Activity at Campbell Soup

In other Campbell Soup news, EVP Anthony Sanzio sold 2,000 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $693,486.90. This trade represents a 10.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 20.19% of the stock is currently owned by insiders.

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.