Campbell reported a 7 percent increase in world soup volumes and a 4 percent growth in the United States, numbers that ''were quite respectable,'' Mr. Bivens said. Wall Street seemed to approve as well, and Campbell's shares closed yesterday at a record high, adjusted for previous stock splits, of $85.75, up $1.375, on the New York Stock Exchange. The new stock split will be issued to shareholders of record on Feb. 24, according to the company, which is based in Camden, N.J. Some analysts have questioned whether Campbell can rely on price increases to raise future earnings, since it has increased its prices more than most food companies of late. But Mr. Johnson said that ''as long as we are giving the customers innovation, freshening our lines, we can have pricing power.''