Erste Asset Management GmbH Purchases Shares of 119,800 Campbell Soup (NASDAQ:CPB)

Erste Asset Management GmbH acquired a new position in Campbell Soup (NASDAQ:CPB) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 119,800 shares of the company’s stock, valued at approximately $5,913,000.

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

Campbell Soup Trading Up 0.1 %

NASDAQ:CPB opened at $46.23 on Tuesday. The stock has a fifty day moving average price of $46.71 and a two-hundred day moving average price of $47.04. 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 quick ratio of 0.22 and a current ratio of 0.61. The stock has a market capitalization of $13.76 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 2.66 and a beta of 0.19.

Campbell Soup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Thursday, October 3rd were issued a $0.37 dividend. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.20%. Campbell Soup’s dividend payout ratio (DPR) is 78.31%.

Analyst Ratings Changes

A number of brokerages have commented on CPB. JPMorgan Chase & Co. lifted their price objective on shares of Campbell Soup from $55.00 to $57.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 11th. Piper Sandler upgraded Campbell Soup from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $47.00 to $56.00 in a report on Thursday, November 14th. Argus raised shares of Campbell Soup from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research report on Friday, September 20th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $51.00 price target on shares of Campbell Soup in a report on Monday. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $45.00 price objective on shares of Campbell Soup in a research note on Tuesday, August 27th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Campbell Soup presently has a consensus rating of “Hold” and an average target price of $51.58.

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.