Morse Asset Management Inc Purchases New Stake in Campbell Soup (NASDAQ:CPB)

Morse Asset Management Inc purchased a new stake in Campbell Soup (NASDAQ:CPB) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,750 shares of the company’s stock, valued at approximately $183,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CPB. LSV Asset Management increased its stake in Campbell Soup by 5,022.5% during the second quarter. LSV Asset Management now owns 2,438,300 shares of the company’s stock worth $110,187,000 after acquiring an additional 2,390,700 shares during the last quarter. Wulff Hansen & CO. boosted its position in shares of Campbell Soup by 4,419.0% during the second quarter. Wulff Hansen & CO. now owns 732,530 shares of the company’s stock worth $33,103,000 after buying an additional 716,320 shares during the period. Victory Capital Management Inc. boosted its position in shares of Campbell Soup by 88.2% during the third quarter. Victory Capital Management Inc. now owns 1,192,610 shares of the company’s stock worth $58,342,000 after buying an additional 558,944 shares during the period. Armistice Capital LLC boosted its position in shares of 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 buying an additional 517,550 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Campbell Soup by 14.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,876,253 shares of the company’s stock worth $129,971,000 after buying an additional 363,736 shares during the period. Institutional investors and hedge funds own 52.35% of the company’s stock.

Campbell Soup Stock Down 6.2 %

Campbell Soup stock opened at $42.69 on Thursday. Campbell Soup has a 1-year low of $40.18 and a 1-year high of $52.81. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.61 and a quick ratio of 0.22. The stock has a market cap of $12.71 billion, a PE ratio of 23.33, a P/E/G ratio of 2.62 and a beta of 0.18. The stock’s fifty day moving average is $46.49 and its two-hundred day moving average is $47.00.

Campbell Soup Increases Dividend

The company also recently announced 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 represents a $1.56 dividend on an annualized basis and a dividend yield of 3.65%. This is a boost from Campbell Soup’s previous quarterly dividend of $0.37. Campbell Soup’s payout ratio is 80.87%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Argus upgraded Campbell Soup from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research report on Friday, September 20th. Sanford C. Bernstein upgraded 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 report on Monday, October 7th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $51.00 target price on shares of Campbell Soup in a report on Monday. Wells Fargo & Company lifted their target price on Campbell Soup from $49.00 to $51.00 and gave the company an “equal weight” rating in a report on Wednesday, September 11th. Finally, Barclays lifted their target price on 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, seven have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $51.58.

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.