Toronto Dominion Bank Grows Stock Position in Campbell Soup (NASDAQ:CPB)

Toronto Dominion Bank boosted its stake in shares of Campbell Soup (NASDAQ:CPB - Free Report) by 32.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 135,474 shares of the company's stock after acquiring an additional 33,275 shares during the quarter. Toronto Dominion Bank's holdings in Campbell Soup were worth $6,627,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Campbell Soup during the 2nd quarter valued at approximately $32,000. nVerses Capital LLC purchased a new stake in shares of Campbell Soup in the third quarter valued at $34,000. Ashton Thomas Securities LLC bought a new stake in shares of Campbell Soup in the 3rd quarter worth about $39,000. Rothschild Investment LLC bought a new stake in shares of Campbell Soup in the 2nd quarter worth about $44,000. Finally, Sentry Investment Management LLC bought a new position in Campbell Soup during the 2nd quarter valued at about $44,000. 52.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Barclays cut their target price on Campbell Soup from $49.00 to $46.00 and set an "underweight" rating on the stock in a research note on Friday, December 6th. Sanford C. Bernstein upgraded Campbell Soup from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $55.00 to $58.00 in a research note on Monday, October 7th. Piper Sandler raised shares of Campbell Soup from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $47.00 to $56.00 in a research note on Thursday, November 14th. Citigroup reduced their price target 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. Finally, StockNews.com raised shares of Campbell Soup from a "sell" rating to a "hold" rating in a research report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Campbell Soup currently has a consensus rating of "Hold" and a consensus target price of $50.92.

Campbell Soup Stock Up 0.2 %

Shares of NASDAQ:CPB traded up $0.07 on Friday, reaching $42.99. The company had a trading volume of 2,372,461 shares, compared to its average volume of 2,556,272. The firm has a market capitalization of $12.82 billion, a PE ratio of 23.49, a PEG ratio of 2.96 and a beta of 0.18. The company has a current ratio of 0.91, a quick ratio of 0.50 and a debt-to-equity ratio of 1.74. Campbell Soup has a 52-week low of $40.26 and a 52-week high of $52.81. The firm's 50 day simple moving average is $45.74 and its 200-day simple moving average is $46.90.

Campbell Soup Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Thursday, January 2nd will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 3.63%. This is a positive change from Campbell Soup's previous quarterly dividend of $0.37. The ex-dividend date is Thursday, January 2nd. Campbell Soup's dividend payout ratio is presently 80.87%.

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.