Campbell Soup (NASDAQ:CPB) Stake Increased by Assetmark Inc.

Assetmark Inc. grew its holdings in Campbell Soup (NASDAQ:CPB) by 170.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,819 shares of the company’s stock after purchasing an additional 1,147 shares during the period. Assetmark Inc.’s holdings in Campbell Soup were worth $89,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Blair William & Co. IL lifted its holdings in shares of Campbell Soup by 0.5% in the second quarter. Blair William & Co. IL now owns 43,869 shares of the company’s stock valued at $1,982,000 after purchasing an additional 218 shares in the last quarter. Brown Lisle Cummings Inc. raised its holdings in shares of Campbell Soup by 1.3% during the third quarter. Brown Lisle Cummings Inc. now owns 20,147 shares of the company’s stock worth $986,000 after acquiring an additional 254 shares in the last quarter. Diversified Trust Co raised its holdings in shares of Campbell Soup by 0.3% during the third quarter. Diversified Trust Co now owns 87,845 shares of the company’s stock worth $4,297,000 after acquiring an additional 283 shares in the last quarter. V Square Quantitative Management LLC raised its holdings in shares of Campbell Soup by 4.0% during the third quarter. V Square Quantitative Management LLC now owns 7,538 shares of the company’s stock worth $369,000 after acquiring an additional 287 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV raised its holdings in shares of Campbell Soup by 7.4% during the third quarter. Creative Financial Designs Inc. ADV now owns 4,225 shares of the company’s stock worth $207,000 after acquiring an additional 290 shares in the last quarter. Hedge funds and other institutional investors own 52.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CPB. Sanford C. Bernstein upgraded Campbell Soup from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $55.00 to $58.00 in a report on Monday, October 7th. StockNews.com upgraded Campbell Soup from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. Royal Bank of Canada increased their price objective on Campbell Soup from $47.00 to $51.00 and gave the stock a “sector perform” rating in a report on Friday, September 13th. Barclays increased their price objective on Campbell Soup from $45.00 to $49.00 and gave the stock an “underweight” rating in a report on Thursday, September 12th. Finally, Piper Sandler raised shares of Campbell Soup from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $47.00 to $56.00 in a research report on Thursday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Campbell Soup has an average rating of “Hold” and a consensus price target of $51.58.

Campbell Soup Trading Down 2.9 %

Shares of NASDAQ:CPB opened at $43.15 on Monday. The company has a market cap of $12.84 billion, a P/E ratio of 22.83, a P/E/G ratio of 2.57 and a beta of 0.19. The stock’s 50-day moving average is $47.95 and its 200-day moving average is $47.07. Campbell Soup has a 52-week low of $39.65 and a 52-week high of $52.81. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.22 and a current ratio of 0.61.

Campbell Soup (NASDAQ:CPB) last issued its quarterly earnings results on Thursday, August 29th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.01. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. Campbell Soup had a return on equity of 24.08% and a net margin of 5.88%. The firm’s revenue was up 10.9% compared to the same quarter last year. During the same period last year, the business posted $0.50 earnings per share. Equities research analysts predict that Campbell Soup will post 3.2 earnings per share for the current year.

Campbell Soup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Thursday, October 3rd were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend was Thursday, October 3rd. Campbell Soup’s dividend payout ratio is currently 78.31%.

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.