Everhart Financial Group Inc. Sells 6,474 Shares of The Campbell Soup Company (NASDAQ:CPB)

Everhart Financial Group Inc. trimmed its position in The Campbell Soup Company (NASDAQ:CPB) by 44.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,180 shares of the company’s stock after selling 6,474 shares during the quarter. Everhart Financial Group Inc.’s holdings in Campbell Soup were worth $343,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. nVerses Capital LLC bought a new position in Campbell Soup in the third quarter valued at approximately $34,000. Ashton Thomas Securities LLC bought a new position in Campbell Soup in the third quarter valued at approximately $39,000. Kentucky Trust Co bought a new stake in shares of Campbell Soup during the fourth quarter worth $42,000. Quent Capital LLC grew its stake in shares of Campbell Soup by 77.7% during the fourth quarter. Quent Capital LLC now owns 1,100 shares of the company’s stock worth $46,000 after buying an additional 481 shares during the last quarter. Finally, Stonebridge Financial Group LLC bought a new stake in shares of Campbell Soup during the fourth quarter worth $47,000. 52.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Stephens reaffirmed an “overweight” rating on shares of Campbell Soup in a research note on Wednesday, December 4th. Wells Fargo & Company decreased their target price on shares of Campbell Soup from $45.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Citigroup decreased their target price on shares of Campbell Soup from $44.00 to $41.00 and set a “sell” rating on the stock in a research note on Thursday, December 5th. Piper Sandler raised shares of Campbell Soup from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $47.00 to $56.00 in a research note on Thursday, November 14th. Finally, Barclays reduced their price objective on shares of Campbell Soup from $49.00 to $46.00 and set an “underweight” rating on the stock in a research note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Campbell Soup has an average rating of “Hold” and a consensus price target of $50.17.

Campbell Soup Price Performance

CPB stock opened at $38.60 on Monday. The firm has a market cap of $11.51 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 2.59 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. The company’s fifty day simple moving average is $40.06 and its 200 day simple moving average is $45.18.

Campbell Soup (NASDAQ:CPB) last released its earnings results on Tuesday, December 3rd. The company reported $0.89 earnings per share (EPS) for the quarter, beating 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 earnings per share for the current year.

Campbell Soup Increases Dividend

The business also recently disclosed 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 represents a $1.56 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend was Thursday, January 2nd. This is a boost from Campbell Soup’s previous quarterly dividend of $0.37. Campbell Soup’s dividend payout ratio is 85.25%.

Insider Transactions at Campbell Soup

In other 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 transaction of $83,800.00. Following the transaction, the executive vice president now owns 16,551 shares of the company’s stock, valued at $693,486.90. This represents a 10.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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.