Investors Buy Large Volume of Put Options on Campbell Soup (NYSE:CPB)

Campbell Soup (NYSE:CPBGet Rating) saw unusually large options trading activity on Friday. Stock traders purchased 6,480 put options on the company. This is an increase of approximately 83% compared to the average volume of 3,538 put options.

Campbell Soup Trading Down 0.7 %

NYSE:CPB opened at $52.04 on Friday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.31 and a current ratio of 0.76. The firm has a market cap of $15.58 billion, a price-to-earnings ratio of 19.79, a price-to-earnings-growth ratio of 5.42 and a beta of 0.38. Campbell Soup has a 52 week low of $41.72 and a 52 week high of $57.78. The firm has a 50-day moving average price of $54.69 and a two-hundred day moving average price of $51.25.

Campbell Soup (NYSE:CPBGet Rating) last issued its quarterly earnings results on Wednesday, December 7th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.16. Campbell Soup had a net margin of 8.91% and a return on equity of 26.43%. The company had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter last year, the business posted $0.89 EPS. Campbell Soup’s quarterly revenue was up 15.2% compared to the same quarter last year. On average, equities analysts expect that Campbell Soup will post 2.99 earnings per share for the current fiscal year.

Campbell Soup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 30th. Stockholders of record on Thursday, January 5th will be paid a dividend of $0.37 per share. The ex-dividend date is Wednesday, January 4th. This represents a $1.48 annualized dividend and a dividend yield of 2.84%. Campbell Soup’s payout ratio is currently 56.27%.

Wall Street Analyst Weigh In

CPB has been the topic of several recent research reports. Piper Sandler raised their price target on shares of Campbell Soup from $46.00 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, December 8th. Credit Suisse Group raised their price target on shares of Campbell Soup from $52.00 to $54.00 and gave the company a “neutral” rating in a research report on Thursday, December 8th. BNP Paribas initiated coverage on shares of Campbell Soup in a research report on Tuesday, November 15th. They issued an “underperform” rating and a $48.00 price target on the stock. Exane BNP Paribas started coverage on shares of Campbell Soup in a research report on Tuesday, November 15th. They issued an “underperform” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Campbell Soup from $50.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, December 8th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $51.09.

Insider Transactions at Campbell Soup

In other news, EVP Adam G. Ciongoli sold 37,354 shares of the stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $56.86, for a total transaction of $2,123,948.44. Following the transaction, the executive vice president now owns 99,385 shares of the company’s stock, valued at approximately $5,651,031.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Adam G. Ciongoli sold 37,354 shares of the stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $56.86, for a total transaction of $2,123,948.44. Following the transaction, the executive vice president now owns 99,385 shares of the company’s stock, valued at approximately $5,651,031.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Adam G. Ciongoli sold 44,232 shares of the stock in a transaction dated Thursday, December 8th. The stock was sold at an average price of $56.46, for a total transaction of $2,497,338.72. Following the transaction, the executive vice president now directly owns 136,739 shares in the company, valued at approximately $7,720,283.94. The disclosure for this sale can be found here. Insiders own 21.05% of the company’s stock.

Institutional Investors Weigh In On Campbell Soup

Several large investors have recently modified their holdings of the stock. Wesbanco Bank Inc. increased its stake in shares of Campbell Soup by 3.8% during the 4th quarter. Wesbanco Bank Inc. now owns 5,444 shares of the company’s stock worth $309,000 after purchasing an additional 200 shares during the last quarter. Jeppson Wealth Management LLC increased its stake in shares of Campbell Soup by 1.6% during the 2nd quarter. Jeppson Wealth Management LLC now owns 13,314 shares of the company’s stock worth $640,000 after purchasing an additional 210 shares during the last quarter. Merit Financial Group LLC increased its stake in shares of Campbell Soup by 1.5% during the 3rd quarter. Merit Financial Group LLC now owns 14,163 shares of the company’s stock worth $667,000 after purchasing an additional 213 shares during the last quarter. Vantage Consulting Group Inc increased its stake in shares of Campbell Soup by 4.7% during the 3rd quarter. Vantage Consulting Group Inc now owns 4,880 shares of the company’s stock worth $230,000 after purchasing an additional 220 shares during the last quarter. Finally, Plimoth Trust Co. LLC increased its stake in shares of Campbell Soup by 3.9% during the 2nd quarter. Plimoth Trust Co. LLC now owns 6,040 shares of the company’s stock worth $291,000 after purchasing an additional 225 shares during the last quarter. Hedge funds and other institutional investors own 50.39% of the company’s stock.

About Campbell Soup

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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.

Further Reading

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