Raymond James & Associates Grows Position in Campbell Soup (NASDAQ:CPB)

Raymond James & Associates lifted its position in shares of Campbell Soup (NASDAQ:CPB) by 4.3% in the third quarter, Holdings Channel reports. The firm owned 487,936 shares of the company’s stock after purchasing an additional 19,934 shares during the period. Raymond James & Associates’ holdings in Campbell Soup were worth $23,870,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. nVerses Capital LLC purchased a new stake in Campbell Soup during the third quarter worth approximately $34,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Campbell Soup during the 2nd quarter worth $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 valued at $39,000 after purchasing an additional 865 shares in the last quarter. TruNorth Capital Management LLC acquired a new position in shares of Campbell Soup during the second quarter worth about $44,000. Finally, Rothschild Investment LLC acquired a new position in shares of Campbell Soup during the second quarter worth about $44,000. Institutional investors and hedge funds own 52.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CPB shares. Stifel Nicolaus reiterated a “hold” rating and set a $45.00 target price on shares of Campbell Soup in a report on Tuesday, August 27th. DA Davidson cut shares of Campbell Soup from a “buy” rating to a “neutral” rating and set a $51.00 target price on the stock. in a research report on Friday, September 27th. StockNews.com raised shares of Campbell Soup from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. Sanford C. Bernstein upgraded shares of Campbell Soup from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $55.00 to $58.00 in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. raised their target price on Campbell Soup from $55.00 to $57.00 and gave the company an “overweight” rating in a research note on Wednesday, September 11th. Two 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $50.83.

Campbell Soup Price Performance

Shares of NASDAQ CPB opened at $46.99 on Friday. The company has a current ratio of 0.61, a quick ratio of 0.22 and a debt-to-equity ratio of 1.52. The company has a market capitalization of $14.03 billion, a price-to-earnings ratio of 19.02, a price-to-earnings-growth ratio of 2.83 and a beta of 0.18. Campbell Soup has a twelve month low of $39.63 and a twelve month high of $52.81. The business has a 50 day simple moving average of $49.44 and a 200-day simple moving average of $46.86.

Campbell Soup (NASDAQ:CPB) last released its earnings results on Thursday, August 29th. The company reported $0.63 earnings per share 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 during the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the previous year, the firm earned $0.50 earnings per share. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, equities research analysts expect that Campbell Soup will post 3.2 earnings per share for the current year.

Campbell Soup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Thursday, October 3rd will be paid a $0.37 dividend. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 3.15%. Campbell Soup’s payout ratio is currently 59.92%.

About Campbell Soup

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.