Golden State Wealth Management LLC Buys New Stake in The Campbell Soup Company (NASDAQ:CPB)

Golden State Wealth Management LLC acquired a new stake in shares of The Campbell Soup Company (NASDAQ:CPB) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,600 shares of the company’s stock, valued at approximately $67,000.

A number of other institutional investors have also modified their holdings of CPB. Franklin Resources Inc. raised its position in Campbell Soup by 1,593.8% during the third quarter. Franklin Resources Inc. now owns 1,904,440 shares of the company’s stock valued at $91,623,000 after acquiring an additional 1,792,005 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Campbell Soup by 88.2% during the 3rd quarter. Victory Capital Management Inc. now owns 1,192,610 shares of the company’s stock worth $58,342,000 after purchasing an additional 558,944 shares during the period. Galvin Gaustad & Stein LLC purchased a new position in shares of Campbell Soup during the 4th quarter valued at approximately $14,769,000. Geode Capital Management LLC lifted its stake in shares of Campbell Soup by 6.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,265,615 shares of the company’s stock valued at $256,827,000 after purchasing an additional 322,951 shares during the period. Finally, State Street Corp boosted its holdings in Campbell Soup by 3.1% during the third quarter. State Street Corp now owns 10,048,679 shares of the company’s stock worth $491,581,000 after buying an additional 298,203 shares in the last quarter. Hedge funds and other institutional investors own 52.35% of the company’s stock.

Campbell Soup Stock Performance

Campbell Soup stock opened at $37.39 on Tuesday. The firm has a 50 day simple moving average of $40.47 and a 200-day simple moving average of $45.43. The stock has a market cap of $11.15 billion, a price-to-earnings ratio of 20.43, a price-to-earnings-growth ratio of 2.59 and a beta of 0.19. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.91 and a quick ratio of 0.50. The Campbell Soup Company has a 1-year low of $36.92 and a 1-year high of $52.81.

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

Campbell Soup Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 27th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.39 per share. This is a positive change from Campbell Soup’s previous quarterly dividend of $0.37. This represents a $1.56 annualized dividend and a dividend yield of 4.17%. The ex-dividend date was Thursday, January 2nd. Campbell Soup’s dividend payout ratio (DPR) is currently 85.25%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CPB shares. Wells Fargo & Company decreased their price objective on shares of Campbell Soup from $45.00 to $43.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. DA Davidson reaffirmed a “neutral” rating and issued a $51.00 price target on shares of Campbell Soup in a report on Wednesday, December 4th. Citigroup dropped their price objective on Campbell Soup from $44.00 to $41.00 and set a “sell” rating on the stock in a report on Thursday, December 5th. Barclays reduced their target price on Campbell Soup from $49.00 to $46.00 and set an “underweight” rating for the company in a research note on Friday, December 6th. Finally, Stifel Nicolaus cut their price target on shares of Campbell Soup from $47.00 to $40.00 and set a “hold” rating for the company in a report on Friday, January 24th. Two 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 data from MarketBeat.com, Campbell Soup currently has an average rating of “Hold” and a consensus target price of $50.17.

Insider Activity

In related news, EVP Anthony Sanzio sold 2,000 shares of Campbell Soup 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 completion of the transaction, the executive vice president now directly owns 16,551 shares in the company, valued at approximately $693,486.90. This trade represents a 10.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 20.19% of the company’s stock.

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.