Franklin Resources Inc. Increases Stock Position in Campbell Soup (NASDAQ:CPB)

Franklin Resources Inc. boosted its stake in shares of Campbell Soup (NASDAQ:CPB) by 1,593.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,904,440 shares of the company’s stock after buying an additional 1,792,005 shares during the quarter. Franklin Resources Inc.’s holdings in Campbell Soup were worth $91,623,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Campbell Soup in the second quarter valued at approximately $32,000. nVerses Capital LLC purchased a new position in shares of Campbell Soup in the third quarter valued at approximately $34,000. Ashton Thomas Securities LLC purchased a new position in shares of Campbell Soup in the third quarter valued at approximately $39,000. Rothschild Investment LLC purchased a new position in shares of Campbell Soup in the second quarter valued at approximately $44,000. Finally, Sentry Investment Management LLC purchased a new position in shares of Campbell Soup in the second quarter valued at approximately $44,000. Hedge funds and other institutional investors own 52.35% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Barclays lowered their price objective on shares of Campbell Soup from $49.00 to $46.00 and set an “underweight” rating for the company in a research note on Friday, December 6th. Argus upgraded shares of Campbell Soup from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research note on Friday, September 20th. Stifel Nicolaus decreased their price target on shares of Campbell Soup from $50.00 to $47.00 and set a “hold” rating for the company in a research note on Thursday, December 5th. DA Davidson reiterated a “neutral” rating and issued a $51.00 price target on shares of Campbell Soup in a research note on Wednesday, December 4th. Finally, Piper Sandler upgraded shares of Campbell Soup from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $47.00 to $56.00 in a research note on Thursday, November 14th. Two 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $50.92.

Campbell Soup Trading Up 0.2 %

NASDAQ CPB opened at $42.99 on Monday. Campbell Soup has a 12 month low of $40.26 and a 12 month high of $52.81. The company has a 50-day moving average of $45.74 and a 200-day moving average of $46.90. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.91 and a quick ratio of 0.50. The company has a market cap of $12.82 billion, a P/E ratio of 23.49, a P/E/G ratio of 2.96 and a beta of 0.18.

Campbell Soup Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Investors 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 yield of 3.63%. The ex-dividend date is Thursday, January 2nd. This is an increase from Campbell Soup’s previous quarterly dividend of $0.37. Campbell Soup’s dividend payout ratio is 80.87%.

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.