Ballentine Partners LLC Purchases 616 Shares of Campbell Soup (NASDAQ:CPB)

Ballentine Partners LLC raised its holdings in Campbell Soup (NASDAQ:CPB) by 7.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 9,384 shares of the company’s stock after acquiring an additional 616 shares during the quarter. Ballentine Partners LLC’s holdings in Campbell Soup were worth $459,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. LSV Asset Management boosted its stake in shares of Campbell Soup by 5,022.5% in the 2nd quarter. LSV Asset Management now owns 2,438,300 shares of the company’s stock valued at $110,187,000 after purchasing an additional 2,390,700 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Campbell Soup by 16.6% in the 1st quarter. Van ECK Associates Corp now owns 8,548,557 shares of the company’s stock valued at $379,983,000 after acquiring an additional 1,219,301 shares in the last quarter. Wulff Hansen & CO. lifted its position in shares of Campbell Soup by 4,419.0% during the 2nd quarter. Wulff Hansen & CO. now owns 732,530 shares of the company’s stock valued at $33,103,000 after acquiring an additional 716,320 shares during the period. Armistice Capital LLC boosted its stake in Campbell Soup by 94.0% during the second quarter. Armistice Capital LLC now owns 1,067,914 shares of the company’s stock worth $48,259,000 after acquiring an additional 517,550 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Campbell Soup by 14.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,876,253 shares of the company’s stock worth $129,971,000 after purchasing an additional 363,736 shares during the period. 52.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CPB has been the topic of several research reports. Barclays upped their price objective on shares of Campbell Soup from $45.00 to $49.00 and gave the company an “underweight” rating in a report on Thursday, September 12th. Sanford C. Bernstein upgraded Campbell Soup from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $55.00 to $58.00 in a report on Monday, October 7th. Stifel Nicolaus reissued a “hold” rating and issued a $45.00 price objective on shares of Campbell Soup in a research note on Tuesday, August 27th. Argus raised Campbell Soup from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research report on Friday, September 20th. Finally, Wells Fargo & Company lifted their price target on shares of Campbell Soup from $49.00 to $51.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $50.83.

Campbell Soup Stock Performance

NASDAQ CPB opened at $47.07 on Monday. The company has a 50-day simple moving average of $49.40 and a 200 day simple moving average of $46.92. Campbell Soup has a 52-week low of $39.65 and a 52-week high of $52.81. The company has a market capitalization of $14.05 billion, a PE ratio of 19.06, a price-to-earnings-growth ratio of 2.83 and a beta of 0.18. 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 released its quarterly earnings data on Thursday, August 29th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates 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 for the quarter was up 10.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.50 EPS. On average, research analysts predict that Campbell Soup will post 3.2 EPS for the current year.

Campbell Soup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Thursday, October 3rd will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend is Thursday, October 3rd. Campbell Soup’s dividend payout ratio is 59.92%.

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.