Campbell Soup (NASDAQ:CPB) Sets New 52-Week Low – Here’s Why

Campbell Soup (NASDAQ:CPB) shares hit a new 52-week low during trading on Monday . The company traded as low as $37.61 and last traded at $37.93, with a volume of 131724 shares changing hands. The stock had previously closed at $37.74.

Analyst Ratings Changes

A number of brokerages have commented on CPB. Piper Sandler raised shares of Campbell Soup from a “neutral” rating to an “overweight” rating and upped their price target for the company from $47.00 to $56.00 in a research report on Thursday, November 14th. Stifel Nicolaus cut their price target on shares of Campbell Soup from $50.00 to $47.00 and set a “hold” rating on the stock in a research report on Thursday, December 5th. Barclays cut their price target on shares of Campbell Soup from $49.00 to $46.00 and set an “underweight” rating on the stock in a research report on Friday, December 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $51.00 price target on shares of Campbell Soup in a research report on Monday, December 2nd. Finally, Sanford C. Bernstein upgraded shares of Campbell Soup from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $55.00 to $58.00 in a report on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $50.75.

Campbell Soup Stock Up 0.8 %

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 company has a market cap of $11.34 billion, a price-to-earnings ratio of 20.78, a price-to-earnings-growth ratio of 2.96 and a beta of 0.19. The stock’s fifty day moving average is $43.24 and its two-hundred day moving average is $46.49.

Campbell Soup Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Thursday, January 2nd will be paid a $0.39 dividend. This is a positive change from Campbell Soup’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $1.56 annualized dividend and a yield of 4.10%. Campbell Soup’s dividend payout ratio (DPR) is 85.25%.

Insider Buying and Selling at Campbell Soup

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

Institutional Investors Weigh In On Campbell Soup

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Campbell Soup during the 2nd quarter valued at approximately $32,000. nVerses Capital LLC purchased a new stake in Campbell Soup in the 3rd quarter worth approximately $34,000. Ashton Thomas Securities LLC purchased a new stake in shares of Campbell Soup during the 3rd quarter valued at $39,000. Friedenthal Financial purchased a new stake in shares of Campbell Soup during the 3rd quarter valued at $48,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Campbell Soup by 463.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,747 shares of the company’s stock valued at $82,000 after buying an additional 1,437 shares in the last quarter. Hedge funds and other institutional investors own 52.35% of the company’s stock.

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.