Bridgewater Associates LP Sells 29,284 Shares of Campbell Soup (NASDAQ:CPB)

Bridgewater Associates LP cut its stake in shares of Campbell Soup (NASDAQ:CPB - Free Report) by 35.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 53,250 shares of the company's stock after selling 29,284 shares during the quarter. Bridgewater Associates LP's holdings in Campbell Soup were worth $2,605,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. M&G Plc bought a new stake in shares of Campbell Soup during the second quarter worth $469,000. Raymond James Trust N.A. raised its position in Campbell Soup by 43.8% in the 3rd quarter. Raymond James Trust N.A. now owns 9,228 shares of the company's stock worth $451,000 after purchasing an additional 2,809 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Campbell Soup by 14.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,876,253 shares of the company's stock valued at $129,971,000 after acquiring an additional 363,736 shares during the period. MN Wealth Advisors LLC bought a new position in shares of Campbell Soup in the 3rd quarter valued at about $940,000. Finally, MBB Public Markets I LLC acquired a new stake in shares of Campbell Soup during the 2nd quarter worth approximately $669,000. Institutional investors and hedge funds own 52.35% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Campbell Soup from $55.00 to $57.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 11th. Wells Fargo & Company increased their target price on Campbell Soup from $49.00 to $51.00 and gave the stock an "equal weight" rating in a report on Wednesday, September 11th. Royal Bank of Canada boosted their price target on Campbell Soup from $47.00 to $51.00 and gave the company a "sector perform" rating in a report on Friday, September 13th. TD Cowen increased their price objective on Campbell Soup from $47.00 to $51.00 and gave the stock a "hold" rating in a report on Thursday, September 12th. Finally, DA Davidson cut Campbell Soup from a "buy" rating to a "neutral" rating and set a $51.00 target price on the stock. in a research note on Friday, September 27th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $51.58.

Campbell Soup Price Performance

Shares of CPB traded up $0.13 during trading hours on Friday, reaching $46.20. The stock had a trading volume of 1,066,972 shares, compared to its average volume of 2,252,618. The stock has a market capitalization of $13.75 billion, a PE ratio of 24.44, a PEG ratio of 2.66 and a beta of 0.19. Campbell Soup has a 12 month low of $39.65 and a 12 month high of $52.81. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.22 and a current ratio of 0.61. The company's 50-day moving average is $46.80 and its two-hundred day moving average is $47.03.

Campbell Soup (NASDAQ:CPB - Get Free Report) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.01. Campbell Soup had a net margin of 5.88% and a return on equity of 24.08%. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same quarter last year, the business earned $0.50 EPS. The firm's quarterly revenue was up 10.9% on a year-over-year basis. Research analysts expect that Campbell Soup will post 3.2 EPS for the current year.

Campbell Soup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Thursday, October 3rd were paid a $0.37 dividend. The ex-dividend date was Thursday, October 3rd. This represents a $1.48 annualized dividend and a dividend yield of 3.20%. Campbell Soup's payout ratio is 78.31%.

Campbell Soup Company 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.