The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Campbell Soup Company shares valued at $916,061 were sold by Ciongoli Adam G. on Sep 02. At $50.00 per share, Ciongoli Adam G. sold 18,321 shares. The insider’s holdings dropped to 111,598 shares worth approximately $5.49 million following the completion of this transaction.
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Also, Ciongoli Adam G. sold 17,924 shares, netting a total of over 896,379 in proceeds. Following the sale of shares at $50.01 each, the insider now holds 129,919 shares.
Before that, Ciongoli Adam G. had sold 32,194 shares from its account. In a trade valued at $1,601,652, the Executive Vice President traded Campbell Soup Company shares for $49.75 each. Upon closing the transaction, the insider’s holdings decreased to 32,194 shares, worth approximately $6.39 million.
As published in their initiating research note from UBS on March 30, 2022, Campbell Soup Company [CPB] has been a Sell and the price target has been revised to $42. This represents a -17.1% premium over Thursday’s closing price. Analysts at RBC Capital Mkts downgraded the stock from ‘”an Outperform”‘ to ‘”a Sector perform”‘ outlook in a report released in late March. As of August 25, 2021, Piper Sandler has decreased its “an Overweight” rating to a “Neutral” for CPB. Earlier on May 24, 2021, Jefferies downgraded its rating. Their new recommendation was “a Hold” for CPB stock which previously was a “a Buy”.
Analyzing CPB’s Price Performance
On Thursday, Campbell Soup Company [NYSE: CPB] rose 1.34% to $49.18. The stock’s lowest price that day was $48.59, but it reached a high of $49.495 in the same session. During the last five days, there has been a surge of approximately 4.44%. Over the course of the year, Campbell Soup Company shares have jumped approximately 13.16%. Shares of the company reached a 52-week high of $51.94 on 05/09/22 and a 52-week low of $41.72 on 03/10/22. A 50-day SMA is recorded $49.27, while a 200-day SMA reached $46.43. Nevertheless, trading volume fell to 2.61 million shares from 2.55 million shares the previous day.
Support And Resistance Levels for Campbell Soup Company (CPB)
According to the 24-hour chart, there is a support level at 48.68, which, if violated, would cause prices to drop to 48.18. In the upper region, resistance lies at 49.59. The next price resistance is at 49.99. RSI (Relative Strength Index) is 52.69 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.32, which suggests the price will decrease in the coming days. Percent R is at 39.60%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Campbell Soup Company subject to short interest?
Stocks of Campbell Soup Company saw a sharp steep in short interest on Jul 14, 2022 dropping by -2.65 million shares to 13.75 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 16.4 million shares. A decline of -19.27% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.95 of the overall float, the days-to-cover ratio (short ratio) decline to 4.95.
Which companies own the most shares of Campbell Soup Company (CPB)?
According to The Vanguard Group, Inc. filings, the company currently owns 22,610,042 shares, which is about 7.52% of the total CPB shares outstanding. The investor’s shares have appreciated by 156,832 from its previous 13-F filing of 22453210.0 shares. With the completion of the buy transaction, SSgA Funds Management, Inc.’s stake is now worth $635,236,735. BlackRock Fund Advisors reduced a -1.21% interest valued at $543.74 million while Beutel, Goodman & Co. Ltd. sold a -499,854 stake. A total of 286,287 shares of Campbell Soup Company were sold by Invesco Capital Management LLC during the quarter, and -1,720,246 were sold by T. Rowe Price Associates, Inc.. In its current portfolio, Brandywine Trust Co. LLC holds 4,198,268 shares valued at $211.51 million.
In terms of Campbell Soup Company share price expectations, FactSet research, analysts set an average price target of $47.94 in the next 12 months, down nearly -1.09% from the previous closing price of $48.53. Analysts anticipate Campbell Soup Company stock to reach $55.00 by 2022, with the lowest price target being $38.00. In spite of this, 19 analysts ranked Campbell Soup Company stock as a Hold at the end of 2022. On October 19, 2020, Citigroup assigned a price target of “a Neutral” to the stock and initiated coverage with a $52.