Principal Financial Group Inc. Boosts Stock Holdings in Campbell Soup (NASDAQ:CPB)

Principal Financial Group Inc. boosted its position in shares of Campbell Soup (NASDAQ:CPB) by 6.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 278,607 shares of the company’s stock after buying an additional 17,663 shares during the quarter. Principal Financial Group Inc.’s holdings in Campbell Soup were worth $13,629,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. nVerses Capital LLC bought a new stake in Campbell Soup in the third quarter valued at $34,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Campbell Soup in the second quarter worth about $32,000. Ashton Thomas Securities LLC bought a new stake in Campbell Soup during the 3rd quarter valued at approximately $39,000. Rothschild Investment LLC bought a new position in shares of Campbell Soup in the 2nd quarter worth approximately $44,000. Finally, Sentry Investment Management LLC purchased a new position in shares of Campbell Soup in the 2nd quarter valued at approximately $44,000. 52.35% of the stock is owned by institutional investors.

Campbell Soup Trading Up 0.2 %

Shares of CPB stock opened at $41.81 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.50 and a debt-to-equity ratio of 1.74. Campbell Soup has a 12-month low of $40.26 and a 12-month high of $52.81. The stock has a market capitalization of $12.46 billion, a P/E ratio of 22.85, a P/E/G ratio of 2.96 and a beta of 0.18. The firm’s 50 day moving average is $44.52 and its 200 day moving average is $46.73.

Campbell Soup Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Thursday, January 2nd will be issued a $0.39 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $1.56 annualized dividend and a dividend yield of 3.73%. This is a positive change from Campbell Soup’s previous quarterly dividend of $0.37. Campbell Soup’s payout ratio is presently 85.25%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CPB. Wells Fargo & Company decreased their price objective on Campbell Soup from $51.00 to $45.00 and set an “equal weight” rating for the company in a report on Thursday, December 5th. TD Cowen boosted their price target on Campbell Soup from $47.00 to $51.00 and gave the stock a “hold” rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. lifted their price objective on Campbell Soup from $55.00 to $57.00 and gave the company an “overweight” rating in a research note on Wednesday, September 11th. Stephens reissued an “overweight” rating on shares of Campbell Soup in a research note on Wednesday, December 4th. Finally, Sanford C. Bernstein raised Campbell Soup from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $55.00 to $58.00 in a research report on Monday, October 7th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Campbell Soup currently has a consensus rating of “Hold” and an average price target of $50.92.

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.