Campbell Soup (NASDAQ:CPB) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its position in Campbell Soup (NASDAQ:CPB - Free Report) by 6.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 5,265,615 shares of the company's stock after purchasing an additional 322,951 shares during the period. Geode Capital Management LLC owned 1.77% of Campbell Soup worth $256,827,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Raymond James Trust N.A. lifted its stake 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 valued at $451,000 after buying an additional 2,809 shares during the last quarter. FMR LLC boosted its stake in shares of Campbell Soup by 34.2% during the third quarter. FMR LLC now owns 165,494 shares of the company's stock worth $8,096,000 after buying an additional 42,216 shares during the period. Centiva Capital LP acquired a new position in Campbell Soup in the 3rd quarter valued at about $2,806,000. Dimensional Fund Advisors LP raised its stake in Campbell Soup by 14.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,876,253 shares of the company's stock valued at $129,971,000 after acquiring an additional 363,736 shares during the last quarter. Finally, MN Wealth Advisors LLC purchased a new position in shares of Campbell Soup in the 3rd quarter valued at approximately $940,000. 52.35% of the stock is owned by institutional investors and hedge funds.

Campbell Soup Price Performance

Campbell Soup stock traded up $0.07 during mid-day trading on Friday, hitting $42.99. 2,372,461 shares of the company were exchanged, compared to its average volume of 2,556,272. Campbell Soup has a 12-month low of $40.26 and a 12-month high of $52.81. The company has a market capitalization of $12.82 billion, a P/E ratio of 23.49, a PEG ratio of 2.96 and a beta of 0.18. The business's 50 day simple moving average is $45.74 and its two-hundred day simple moving average is $46.90. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.91 and a quick ratio of 0.50.

Campbell Soup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Thursday, January 2nd will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 3.63%. 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 (DPR) is currently 80.87%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CPB shares. JPMorgan Chase & Co. increased their price target on Campbell Soup from $55.00 to $57.00 and gave the stock an "overweight" rating in a report on Wednesday, September 11th. Piper Sandler raised shares of Campbell Soup from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $47.00 to $56.00 in a report on Thursday, November 14th. DA Davidson reaffirmed a "neutral" rating and issued a $51.00 price objective on shares of Campbell Soup in a report on Wednesday, December 4th. Royal Bank of Canada reissued a "sector perform" rating and issued a $51.00 price target on shares of Campbell Soup in a report on Monday, December 2nd. Finally, Wells Fargo & Company cut their price objective on Campbell Soup from $51.00 to $45.00 and set an "equal weight" rating for the company in a research report on Thursday, December 5th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company 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.