State Street Corp Grows Stock Holdings in Campbell Soup (NASDAQ:CPB)

State Street Corp boosted its holdings in Campbell Soup (NASDAQ:CPB) by 3.1% in the third quarter, Holdings Channel reports. The institutional investor owned 10,048,679 shares of the company’s stock after acquiring an additional 298,203 shares during the quarter. State Street Corp’s holdings in Campbell Soup were worth $491,581,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of CPB. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Campbell Soup during the 2nd quarter worth $32,000. nVerses Capital LLC purchased a new position in shares of Campbell Soup during the third quarter valued at about $34,000. Ashton Thomas Securities LLC purchased a new position in shares of Campbell Soup during the third quarter valued at about $39,000. TruNorth Capital Management LLC purchased a new position in shares of Campbell Soup during the second quarter valued at about $44,000. Finally, Rothschild Investment LLC purchased a new position in shares of Campbell Soup during the second quarter valued at about $44,000. 52.35% of the stock is currently owned by hedge funds and other institutional investors.

Campbell Soup Price Performance

Campbell Soup stock opened at $42.73 on Monday. Campbell Soup has a 52-week low of $40.26 and a 52-week high of $52.81. The firm has a market capitalization of $12.74 billion, a price-to-earnings ratio of 23.35, a PEG ratio of 2.45 and a beta of 0.18. The company has a fifty day simple moving average of $46.22 and a 200-day simple moving average of $46.96. The company has a quick ratio of 0.22, a current ratio of 0.91 and a debt-to-equity ratio of 1.74.

Campbell Soup Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.39 per share. 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. This represents a $1.56 annualized dividend and a dividend yield of 3.65%. Campbell Soup’s payout ratio is presently 85.25%.

Analyst Upgrades and Downgrades

Several research firms recently commented on CPB. Citigroup dropped their price objective 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. StockNews.com raised shares of Campbell Soup from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. Barclays reduced their target price on shares of Campbell Soup from $49.00 to $46.00 and set an “underweight” rating for the company in a report on Friday. Stephens reissued an “overweight” rating on shares of Campbell Soup in a research note on Wednesday, December 4th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Campbell Soup from $55.00 to $57.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target 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.