Edgestream Partners L.P. Sells 49,535 Shares of Campbell Soup (NASDAQ:CPB)

Edgestream Partners L.P. lessened its stake in shares of Campbell Soup (NASDAQ:CPB - Free Report) by 73.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,606 shares of the company's stock after selling 49,535 shares during the quarter. Edgestream Partners L.P.'s holdings in Campbell Soup were worth $861,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new position in shares of Campbell Soup in the 3rd quarter worth approximately $34,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Campbell Soup in the second quarter valued at $32,000. Ashton Thomas Securities LLC bought a new stake in shares of Campbell Soup during the 3rd quarter worth $39,000. TruNorth Capital Management LLC acquired a new position in shares of Campbell Soup in the 2nd quarter worth $44,000. Finally, Rothschild Investment LLC acquired a new position in shares of Campbell Soup in the 2nd quarter worth $44,000. Institutional investors own 52.35% of the company's stock.

Campbell Soup Price Performance

Campbell Soup stock traded down $0.06 during trading hours on Thursday, hitting $42.63. 3,684,183 shares of the stock were exchanged, compared to its average volume of 2,537,554. The stock has a market capitalization of $12.69 billion, a P/E ratio of 23.26, a P/E/G ratio of 2.62 and a beta of 0.18. The business's 50-day moving average is $46.49 and its two-hundred day moving average is $47.00. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.22 and a current ratio of 0.61. Campbell Soup has a 12 month low of $40.26 and a 12 month high of $52.81.

Campbell Soup Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Stockholders 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 dividend yield of 3.66%. The ex-dividend date is Thursday, January 2nd. This is a boost from Campbell Soup's previous quarterly dividend of $0.37. Campbell Soup's dividend payout ratio is presently 80.87%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CPB. StockNews.com raised Campbell Soup from a "sell" rating to a "hold" rating in a report on Thursday, September 26th. Sanford C. Bernstein raised shares of Campbell Soup from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $55.00 to $58.00 in a research note on Monday, October 7th. Barclays lifted their target price on shares of Campbell Soup from $45.00 to $49.00 and gave the stock an "underweight" rating in a research report on Thursday, September 12th. Argus upgraded shares of Campbell Soup from a "hold" rating to a "buy" rating and set a $59.00 price target on the stock in a report on Friday, September 20th. Finally, TD Cowen raised their price objective on shares of Campbell Soup from $47.00 to $51.00 and gave the stock a "hold" rating in a research note on Thursday, September 12th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $51.17.

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.