Campbell Soup (NASDAQ:CPB) Shares Acquired by Armistice Capital LLC

Armistice Capital LLC boosted its holdings in Campbell Soup (NASDAQ:CPB) by 94.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,067,914 shares of the company’s stock after acquiring an additional 517,550 shares during the period. Campbell Soup accounts for about 0.6% of Armistice Capital LLC’s portfolio, making the stock its 28th largest holding. Armistice Capital LLC owned approximately 0.36% of Campbell Soup worth $48,259,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its stake in shares of Campbell Soup by 1.9% in the 2nd quarter. Van ECK Associates Corp now owns 8,709,949 shares of the company’s stock valued at $393,603,000 after purchasing an additional 161,392 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Campbell Soup by 21.2% in the first quarter. Bank of New York Mellon Corp now owns 3,315,516 shares of the company’s stock valued at $147,375,000 after buying an additional 580,411 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Campbell Soup by 14.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,876,253 shares of the company’s stock worth $129,971,000 after buying an additional 363,736 shares during the period. LSV Asset Management increased its position in shares of Campbell Soup by 5,022.5% during the second quarter. LSV Asset Management now owns 2,438,300 shares of the company’s stock valued at $110,187,000 after acquiring an additional 2,390,700 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in shares of Campbell Soup by 7.3% during the first quarter. Nordea Investment Management AB now owns 1,246,867 shares of the company’s stock valued at $55,554,000 after acquiring an additional 85,099 shares during the last quarter. 52.35% of the stock is currently owned by hedge funds and other institutional investors.

Campbell Soup Price Performance

Shares of CPB opened at $49.49 on Thursday. The firm has a market capitalization of $14.75 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 3.02 and a beta of 0.18. The firm’s fifty day simple moving average is $49.39 and its 200-day simple moving average is $46.23. Campbell Soup has a twelve month low of $37.94 and a twelve month high of $52.81. The company has a current ratio of 0.61, a quick ratio of 0.22 and a debt-to-equity ratio of 1.52.

Campbell Soup (NASDAQ:CPB) last posted its quarterly earnings results on Thursday, August 29th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. Campbell Soup had a return on equity of 24.08% and a net margin of 5.88%. The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period last year, the firm earned $0.50 earnings per share. Campbell Soup’s quarterly revenue was up 10.9% on a year-over-year basis. Equities analysts forecast that Campbell Soup will post 3.18 EPS for the current fiscal year.

Campbell Soup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Thursday, October 3rd will be issued a dividend of $0.37 per share. 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 2.99%. Campbell Soup’s payout ratio is currently 59.92%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada increased their price objective on shares of Campbell Soup from $47.00 to $51.00 and gave the stock a “sector perform” rating in a research report on Friday, September 13th. Barclays lifted their price objective on Campbell Soup from $45.00 to $49.00 and gave the company an “underweight” rating in a research note on Thursday, September 12th. Argus raised Campbell Soup from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research note on Friday, September 20th. DA Davidson increased their price target on shares of Campbell Soup from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $45.00 target price on shares of Campbell Soup in a research note on Tuesday, August 27th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $49.69.

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.