Caisse DE Depot ET Placement DU Quebec Buys 111,300 Shares of Campbell Soup (NASDAQ:CPB)

Caisse DE Depot ET Placement DU Quebec boosted its position in Campbell Soup (NASDAQ:CPB) by 348.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 143,241 shares of the company’s stock after acquiring an additional 111,300 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Campbell Soup were worth $7,007,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CPB. Verition Fund Management LLC increased its stake in Campbell Soup by 422.3% during the 3rd quarter. Verition Fund Management LLC now owns 312,260 shares of the company’s stock valued at $15,276,000 after purchasing an additional 252,469 shares in the last quarter. Public Sector Pension Investment Board grew its holdings in shares of Campbell Soup by 15.4% during the third quarter. Public Sector Pension Investment Board now owns 9,009 shares of the company’s stock valued at $441,000 after buying an additional 1,200 shares during the last quarter. Townsquare Capital LLC bought a new stake in shares of Campbell Soup during the third quarter worth about $223,000. BNP Paribas Financial Markets raised its holdings in shares of Campbell Soup by 16.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 332,855 shares of the company’s stock worth $16,283,000 after acquiring an additional 47,105 shares during the last quarter. Finally, FMR LLC lifted its position in Campbell Soup by 34.2% in the 3rd quarter. FMR LLC now owns 165,494 shares of the company’s stock valued at $8,096,000 after acquiring an additional 42,216 shares in the last quarter. 52.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CPB has been the subject of several analyst reports. Barclays increased their price objective on Campbell Soup from $45.00 to $49.00 and gave the stock an “underweight” rating in a research note on Thursday, September 12th. Royal Bank of Canada reissued a “sector perform” rating and issued a $51.00 price target on shares of Campbell Soup in a research report on Monday. Argus raised shares of Campbell Soup from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a report on Friday, September 20th. Sanford C. Bernstein upgraded shares of Campbell Soup from a “market perform” rating to an “outperform” rating and increased their target price for the company from $55.00 to $58.00 in a report on Monday, October 7th. Finally, Piper Sandler raised shares of Campbell Soup from a “neutral” rating to an “overweight” rating and raised their price target for the company from $47.00 to $56.00 in a research report on Thursday, November 14th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $51.58.

Campbell Soup Price Performance

Campbell Soup stock opened at $46.23 on Tuesday. The business’s 50 day simple moving average is $46.71 and its 200 day simple moving average is $47.04. Campbell Soup has a 12 month low of $40.18 and a 12 month high of $52.81. The company has a market cap of $13.76 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 2.66 and a beta of 0.19. The company has a current ratio of 0.61, a quick ratio of 0.22 and a debt-to-equity ratio of 1.52.

Campbell Soup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Thursday, October 3rd were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.48 annualized dividend and a dividend yield of 3.20%. Campbell Soup’s payout ratio is 78.31%.

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.