Morse Asset Management Inc Invests $183,000 in Campbell Soup (NASDAQ:CPB)

Morse Asset Management Inc bought a new position in shares of Campbell Soup (NASDAQ:CPB) during the third quarter, Holdings Channel.com reports. The fund bought 3,750 shares of the company’s stock, valued at approximately $183,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. M&G Plc acquired a new position in Campbell Soup in the 2nd quarter valued at about $469,000. Raymond James Trust N.A. increased its position in Campbell Soup by 43.8% in the 3rd quarter. Raymond James Trust N.A. now owns 9,228 shares of the company’s stock valued at $451,000 after acquiring an additional 2,809 shares during the period. Centiva Capital LP acquired a new position in Campbell Soup in the 3rd quarter valued at about $2,806,000. Dimensional Fund Advisors LP increased its position in Campbell Soup by 14.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,876,253 shares of the company’s stock valued at $129,971,000 after acquiring an additional 363,736 shares during the period. Finally, MN Wealth Advisors LLC acquired a new position in Campbell Soup in the 3rd quarter valued at about $940,000. Institutional investors and hedge funds own 52.35% of the company’s stock.

Campbell Soup Price Performance

CPB stock opened at $42.69 on Thursday. 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’s 50 day moving average price is $46.49 and its 200 day moving average price is $47.00. The firm has a market cap of $12.71 billion, a P/E ratio of 23.33, a PEG ratio of 2.62 and a beta of 0.18.

Campbell Soup Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Thursday, January 2nd will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 3.65%. This is a positive change from Campbell Soup’s previous quarterly dividend of $0.37. Campbell Soup’s dividend payout ratio is presently 80.87%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CPB shares. Stephens reaffirmed an “overweight” rating on shares of Campbell Soup in a report on Wednesday. TD Cowen lifted their price objective on Campbell Soup from $47.00 to $51.00 and gave the company a “hold” rating in a report on Thursday, September 12th. Argus raised Campbell Soup from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a report on Friday, September 20th. Wells Fargo & Company lifted their price objective on Campbell Soup from $49.00 to $51.00 and gave the company an “equal weight” rating in a report on Wednesday, September 11th. Finally, Barclays lifted their price objective on Campbell Soup from $45.00 to $49.00 and gave the company an “underweight” rating in a report on Thursday, September 12th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $51.58.

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.