Assenagon Asset Management S.A. Purchases 1,324 Shares of Campbell Soup (NASDAQ:CPB)

Assenagon Asset Management S.A. lifted its holdings in Campbell Soup (NASDAQ:CPB) by 11.7% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,628 shares of the company’s stock after purchasing an additional 1,324 shares during the period. Assenagon Asset Management S.A.’s holdings in Campbell Soup were worth $618,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. nVerses Capital LLC bought a new stake in Campbell Soup during the third quarter valued at about $34,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Campbell Soup during the 2nd quarter valued at approximately $32,000. Larson Financial Group LLC increased its holdings in Campbell Soup by 3,760.9% in the 1st quarter. Larson Financial Group LLC now owns 888 shares of the company’s stock worth $39,000 after acquiring an additional 865 shares in the last quarter. TruNorth Capital Management LLC bought a new stake in Campbell Soup during the 2nd quarter worth approximately $44,000. Finally, Rothschild Investment LLC purchased a new position in Campbell Soup during the second quarter valued at approximately $44,000. Hedge funds and other institutional investors own 52.35% of the company’s stock.

Campbell Soup Price Performance

Campbell Soup stock opened at $46.33 on Friday. Campbell Soup has a 52-week low of $39.65 and a 52-week high of $52.81. The company has a quick ratio of 0.22, a current ratio of 0.61 and a debt-to-equity ratio of 1.52. The firm’s fifty day moving average is $49.03 and its 200 day moving average is $47.00. The company has a market cap of $13.79 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 2.78 and a beta of 0.18.

Campbell Soup (NASDAQ:CPB) last announced its 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. Campbell Soup had a net margin of 5.88% and a return on equity of 24.08%. The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the prior year, the company earned $0.50 EPS. The business’s revenue was up 10.9% compared to the same quarter last year. Sell-side analysts forecast that Campbell Soup will post 3.2 EPS for the current fiscal year.

Campbell Soup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Thursday, October 3rd were given a $0.37 dividend. The ex-dividend date was Thursday, October 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 3.19%. Campbell Soup’s dividend payout ratio is presently 78.31%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CPB. JPMorgan Chase & Co. raised their price objective on shares of Campbell Soup from $55.00 to $57.00 and gave the company an “overweight” rating in a research report on Wednesday, September 11th. Wells Fargo & Company upped their price objective on Campbell Soup from $49.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 11th. Sanford C. Bernstein raised Campbell Soup from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $55.00 to $58.00 in a research note on Monday, October 7th. DA Davidson downgraded Campbell Soup from a “buy” rating to a “neutral” rating and set a $51.00 price target for the company. in a research note on Friday, September 27th. Finally, Barclays increased 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. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $50.83.

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.