M&T Bank Corp increased its stake in Campbell Soup (NASDAQ:CPB - Free Report) by 49.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,806 shares of the company's stock after purchasing an additional 14,247 shares during the quarter. M&T Bank Corp's holdings in Campbell Soup were worth $2,094,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently bought and sold shares of the company. Y Intercept Hong Kong Ltd acquired a new stake in shares of Campbell Soup in the third quarter worth $2,231,000. MML Investors Services LLC lifted its stake in Campbell Soup by 8.1% in the 3rd quarter. MML Investors Services LLC now owns 10,581 shares of the company's stock worth $518,000 after acquiring an additional 789 shares in the last quarter. XTX Topco Ltd acquired a new stake in Campbell Soup during the 3rd quarter worth about $338,000. iSAM Funds UK Ltd grew its stake in Campbell Soup by 8.3% during the 3rd quarter. iSAM Funds UK Ltd now owns 14,953 shares of the company's stock valued at $732,000 after acquiring an additional 1,143 shares in the last quarter. Finally, National Bank of Canada FI grew its stake in Campbell Soup by 75.5% during the 3rd quarter. National Bank of Canada FI now owns 102,520 shares of the company's stock valued at $5,015,000 after acquiring an additional 44,107 shares in the last quarter. 52.35% of the stock is owned by hedge funds and other institutional investors.
Campbell Soup Stock Performance
Shares of CPB stock traded up $0.07 during trading 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 company 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 debt-to-equity ratio of 1.74, a current ratio of 0.91 and a quick ratio of 0.50. The firm's 50 day simple moving average is $45.74 and its two-hundred day simple moving average is $46.90. Campbell Soup has a one year low of $40.26 and a one year high of $52.81.
Campbell Soup Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Thursday, January 2nd will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.63%. This is a boost from Campbell Soup's previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Thursday, January 2nd. Campbell Soup's payout ratio is presently 80.87%.
Analyst Ratings Changes
Several research firms recently commented on CPB. Barclays decreased their price target on shares of Campbell Soup from $49.00 to $46.00 and set an "underweight" rating for the company in a report on Friday, December 6th. DA Davidson reissued a "neutral" rating and set a $51.00 target price on shares of Campbell Soup in a research note on Wednesday, December 4th. Citigroup dropped 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. TD Cowen lifted their price objective on Campbell Soup from $47.00 to $51.00 and gave the company a "hold" rating in a research report on Thursday, September 12th. Finally, Stephens reaffirmed an "overweight" rating on shares of Campbell Soup in a research report on Wednesday, December 4th. 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's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $50.92.
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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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