Edgestream Partners L.P. Lowers Stake in Campbell Soup (NASDAQ:CPB)

Edgestream Partners L.P. trimmed its holdings in Campbell Soup (NASDAQ:CPB) by 73.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 17,606 shares of the company’s stock after selling 49,535 shares during the quarter. Edgestream Partners L.P.’s holdings in Campbell Soup were worth $861,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CPB. Van ECK Associates Corp raised its stake in Campbell Soup by 1.9% during the 2nd quarter. Van ECK Associates Corp now owns 8,709,949 shares of the company’s stock valued at $393,603,000 after acquiring an additional 161,392 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Campbell Soup by 14.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,876,253 shares of the company’s stock valued at $129,971,000 after purchasing an additional 363,736 shares during the period. LSV Asset Management raised its stake in shares of 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 purchasing an additional 2,390,700 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Campbell Soup by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,765,632 shares of the company’s stock worth $86,375,000 after purchasing an additional 12,822 shares during the period. Finally, Victory Capital Management Inc. grew its position in Campbell Soup by 88.2% in the 3rd quarter. Victory Capital Management Inc. now owns 1,192,610 shares of the company’s stock valued at $58,342,000 after buying an additional 558,944 shares during the last quarter. Institutional investors and hedge funds own 52.35% of the company’s stock.

Campbell Soup Trading Down 6.2 %

NASDAQ:CPB opened at $42.69 on Thursday. The company has a market capitalization of $12.71 billion, a PE ratio of 22.59, a price-to-earnings-growth ratio of 2.66 and a beta of 0.18. Campbell Soup has a 52-week low of $40.18 and a 52-week high of $52.81. The stock has a fifty day simple moving average of $46.49 and a 200-day simple moving average of $47.00. The company has a quick ratio of 0.22, a current ratio of 0.61 and a debt-to-equity ratio of 1.52.

Campbell Soup Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Thursday, January 2nd will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 3.65%. This is an increase from Campbell Soup’s previous quarterly dividend of $0.37. Campbell Soup’s dividend payout ratio is 78.31%.

Analysts Set New Price Targets

A number of equities analysts have commented on CPB shares. Barclays upped their price objective on shares of Campbell Soup from $45.00 to $49.00 and gave the stock an “underweight” rating in a research report on Thursday, September 12th. Wells Fargo & Company raised their price objective 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. DA Davidson reiterated a “neutral” rating and set a $51.00 target price on shares of Campbell Soup in a research report on Wednesday. Piper Sandler raised Campbell Soup from a “neutral” rating to an “overweight” rating and raised their price target for the company from $47.00 to $56.00 in a report on Thursday, November 14th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $45.00 price target on shares of Campbell Soup in a research note on Tuesday, August 27th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Campbell Soup currently has an average rating of “Hold” and an average 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.