Franklin Resources Inc. Has $91.62 Million Holdings in Campbell Soup (NASDAQ:CPB)

Franklin Resources Inc. lifted its holdings in Campbell Soup (NASDAQ:CPB - Free Report) by 1,593.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,904,440 shares of the company's stock after purchasing an additional 1,792,005 shares during the period. Franklin Resources Inc. owned 0.64% of Campbell Soup worth $91,623,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Raymond James Trust N.A. lifted its position in Campbell Soup by 43.8% in the third 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 period. FMR LLC lifted its holdings in Campbell Soup by 34.2% during the 3rd quarter. FMR LLC now owns 165,494 shares of the company's stock valued at $8,096,000 after purchasing an additional 42,216 shares during the last quarter. Centiva Capital LP acquired a new position in Campbell Soup in the third quarter valued at about $2,806,000. Dimensional Fund Advisors LP grew its holdings 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 worth $129,971,000 after purchasing an additional 363,736 shares during the last quarter. Finally, MN Wealth Advisors LLC bought a new position in shares of Campbell Soup in the third quarter worth about $940,000. Institutional investors and hedge funds own 52.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CPB. Argus upgraded Campbell Soup from a "hold" rating to a "buy" rating and set a $59.00 target price on the stock in a report on Friday, September 20th. Wells Fargo & Company lowered their target price on shares of Campbell Soup from $51.00 to $45.00 and set an "equal weight" rating for the company in a research note on Thursday, December 5th. Citigroup reduced their target price on Campbell Soup from $44.00 to $41.00 and set a "sell" rating on the stock in a report on Thursday, December 5th. TD Cowen upped their price objective on Campbell Soup from $47.00 to $51.00 and gave the stock a "hold" rating in a research report on Thursday, September 12th. Finally, DA Davidson reiterated a "neutral" rating and issued a $51.00 price target on shares of Campbell Soup in a research note on Wednesday, December 4th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $50.92.

Campbell Soup Price Performance

Campbell Soup stock traded down $0.43 during trading hours on Monday, reaching $42.56. 2,681,097 shares of the stock were exchanged, compared to its average volume of 2,556,789. The stock has a 50 day moving average of $45.65 and a two-hundred day moving average of $46.89. Campbell Soup has a twelve month low of $40.26 and a twelve month high of $52.81. The company has a current ratio of 0.91, a quick ratio of 0.50 and a debt-to-equity ratio of 1.74. The company has a market cap of $12.69 billion, a P/E ratio of 23.26, a price-to-earnings-growth ratio of 2.96 and a beta of 0.18.

Campbell Soup Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Thursday, January 2nd will be given a $0.39 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $1.56 dividend on an annualized basis and a yield of 3.67%. This is a positive change from Campbell Soup's previous quarterly dividend of $0.37. Campbell Soup's dividend payout ratio (DPR) is currently 85.25%.

About Campbell Soup

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.