Verition Fund Management LLC raised its holdings in Campbell Soup (NASDAQ:CPB - Free Report) by 422.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 312,260 shares of the company's stock after buying an additional 252,469 shares during the quarter. Verition Fund Management LLC owned approximately 0.10% of Campbell Soup worth $15,276,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of CPB. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Campbell Soup in the 2nd quarter worth $32,000. nVerses Capital LLC purchased a new position in shares of Campbell Soup in the 3rd quarter worth about $34,000. Ashton Thomas Securities LLC acquired a new position in shares of Campbell Soup in the 3rd quarter valued at about $39,000. TruNorth Capital Management LLC purchased a new stake in shares of Campbell Soup during the 2nd quarter worth about $44,000. Finally, Rothschild Investment LLC purchased a new stake in shares of Campbell Soup during the 2nd quarter worth about $44,000. Institutional investors and hedge funds own 52.35% of the company's stock.
Analyst Ratings Changes
CPB has been the topic of a number of recent research reports. Barclays lifted their price target on shares of Campbell Soup from $45.00 to $49.00 and gave the company an "underweight" rating in a research report on Thursday, September 12th. TD Cowen lifted their target price on shares of Campbell Soup from $47.00 to $51.00 and gave the company a "hold" rating in a report on Thursday, September 12th. StockNews.com upgraded Campbell Soup from a "sell" rating to a "hold" rating in a report on Thursday, September 26th. Argus upgraded Campbell Soup from a "hold" rating to a "buy" rating and set a $59.00 price objective on the stock in a research note on Friday, September 20th. Finally, Royal Bank of Canada increased their target price on Campbell Soup from $47.00 to $51.00 and gave the company a "sector perform" rating in a research note on Friday, September 13th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $51.58.
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Read Our Latest Stock Analysis on CPB
Campbell Soup Stock Up 0.3 %
CPB stock opened at $46.20 on Friday. The company has a current ratio of 0.61, a quick ratio of 0.22 and a debt-to-equity ratio of 1.52. The firm has a 50 day simple moving average of $46.80 and a 200-day simple moving average of $47.03. The company has a market capitalization of $13.75 billion, a P/E ratio of 24.44, a PEG ratio of 2.65 and a beta of 0.19. Campbell Soup has a twelve month low of $39.65 and a twelve month high of $52.81.
Campbell Soup (NASDAQ:CPB - Get Free Report) last released its earnings results on Thursday, August 29th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.01. Campbell Soup had a net margin of 5.88% and a return on equity of 24.08%. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the previous year, the firm earned $0.50 EPS. The company's revenue was up 10.9% on a year-over-year basis. On average, equities research analysts predict that Campbell Soup will post 3.2 earnings per share for the current fiscal year.
Campbell Soup Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Thursday, October 3rd were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend was Thursday, October 3rd. Campbell Soup's dividend payout ratio is currently 78.31%.
Campbell Soup Profile
(
Free Report)
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.
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Want to see what other hedge funds are holding CPB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Campbell Soup (NASDAQ:CPB - Free Report).
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