State Street Corp Raises Stake in Campbell Soup (NASDAQ:CPB)

State Street Corp grew its holdings in shares of Campbell Soup (NASDAQ:CPB - Free Report) by 3.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,048,679 shares of the company's stock after buying an additional 298,203 shares during the period. State Street Corp owned approximately 3.38% of Campbell Soup worth $491,581,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of CPB. Stevens Capital Management LP bought a new stake in shares of Campbell Soup during the third quarter valued at approximately $204,000. Quantinno Capital Management LP increased its stake in Campbell Soup by 2.0% during the 3rd quarter. Quantinno Capital Management LP now owns 54,471 shares of the company's stock valued at $2,665,000 after purchasing an additional 1,076 shares in the last quarter. Readystate Asset Management LP lifted its position in Campbell Soup by 40.8% in the 3rd quarter. Readystate Asset Management LP now owns 18,126 shares of the company's stock valued at $887,000 after acquiring an additional 5,255 shares in the last quarter. Point72 DIFC Ltd bought a new stake in Campbell Soup during the 3rd quarter worth approximately $385,000. Finally, Polar Asset Management Partners Inc. purchased a new position in shares of Campbell Soup during the third quarter valued at approximately $2,416,000. Institutional investors and hedge funds own 52.35% of the company's stock.

Campbell Soup Price Performance

Campbell Soup stock traded up $0.38 during midday trading on Monday, hitting $43.11. 3,622,462 shares of the company's stock were exchanged, compared to its average volume of 2,547,561. The stock has a 50-day moving average price of $46.22 and a two-hundred day moving average price of $46.96. Campbell Soup has a 52-week low of $40.26 and a 52-week high of $52.81. The company has a market cap of $12.85 billion, a P/E ratio of 23.35, a PEG ratio of 2.94 and a beta of 0.18. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.50 and a current ratio of 0.91.

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 $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 3.62%. This is a boost from Campbell Soup's previous quarterly dividend of $0.37. The ex-dividend date is Thursday, January 2nd. Campbell Soup's dividend payout ratio is 80.87%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CPB shares. JPMorgan Chase & Co. raised their price objective on Campbell Soup from $55.00 to $57.00 and gave the company an "overweight" rating in a research note on Wednesday, September 11th. Sanford C. Bernstein upgraded shares of Campbell Soup from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $55.00 to $58.00 in a report on Monday, October 7th. Wells Fargo & Company cut their target price on Campbell Soup from $51.00 to $45.00 and set an "equal weight" rating on the stock in a research note on Thursday. StockNews.com upgraded Campbell Soup from a "sell" rating to a "hold" rating in a report on Thursday, September 26th. Finally, Stifel Nicolaus reduced their price objective on Campbell Soup from $50.00 to $47.00 and set a "hold" rating for the company in a research note on Thursday. 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 stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $50.92.

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.