Vestcor Inc Buys 38,200 Shares of Campbell Soup (NASDAQ:CPB)

Vestcor Inc increased its stake in Campbell Soup (NASDAQ:CPB - Free Report) by 26.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 182,528 shares of the company's stock after acquiring an additional 38,200 shares during the period. Vestcor Inc owned approximately 0.06% of Campbell Soup worth $8,929,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. M&T Bank Corp raised its stake in shares of Campbell Soup by 49.9% during the third quarter. M&T Bank Corp now owns 42,806 shares of the company's stock valued at $2,094,000 after purchasing an additional 14,247 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in Campbell Soup in the third quarter worth $2,231,000. MML Investors Services LLC boosted its holdings in Campbell Soup by 8.1% in the third quarter. MML Investors Services LLC now owns 10,581 shares of the company's stock worth $518,000 after purchasing an additional 789 shares during the period. XTX Topco Ltd acquired a new position in shares of Campbell Soup during the third quarter valued at $338,000. Finally, iSAM Funds UK Ltd boosted its holdings in shares of Campbell Soup by 8.3% during the third quarter. iSAM Funds UK Ltd now owns 14,953 shares of the company's stock valued at $732,000 after acquiring an additional 1,143 shares during the period. 52.35% of the stock is owned by institutional investors and hedge funds.

Campbell Soup Trading Up 1.0 %

NASDAQ CPB traded up $0.43 on Tuesday, hitting $43.54. 3,467,876 shares of the company were exchanged, compared to its average volume of 2,551,428. The company's 50 day moving average price is $46.01 and its 200-day moving average price is $46.93. 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 firm has a market capitalization of $12.98 billion, a P/E ratio of 23.79, a price-to-earnings-growth ratio of 2.94 and a beta of 0.18. Campbell Soup has a twelve month low of $40.26 and a twelve month high of $52.81.

Campbell Soup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend is Thursday, January 2nd. This is an increase from Campbell Soup's previous quarterly dividend of $0.37. Campbell Soup's payout ratio is presently 80.87%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Barclays reduced their price target on shares of Campbell Soup from $49.00 to $46.00 and set an "underweight" rating for the company in a report on Friday. Piper Sandler raised shares of Campbell Soup from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $47.00 to $56.00 in a report on Thursday, November 14th. TD Cowen upped their price objective on shares of Campbell Soup from $47.00 to $51.00 and gave the stock a "hold" rating in a report on Thursday, September 12th. Wells Fargo & Company reduced their price objective on shares of Campbell Soup from $51.00 to $45.00 and set an "equal weight" rating for the company in a report on Thursday, December 5th. Finally, StockNews.com raised shares of Campbell Soup from a "sell" rating to a "hold" rating in a report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $50.92.

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.