Wells Fargo & Company MN reduced its position in Campbell Soup (NYSE:CPB) by 4.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 790,999 shares of the company’s stock after selling 36,291 shares during the quarter. Wells Fargo & Company MN owned about 0.26% of Campbell Soup worth $31,696,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CPB. Wedge Capital Management L L P NC purchased a new position in Campbell Soup in the second quarter worth $31,379,000. State of Wisconsin Investment Board purchased a new position in Campbell Soup in the first quarter worth $17,578,000. First Trust Advisors LP grew its holdings in Campbell Soup by 31.6% in the second quarter. First Trust Advisors LP now owns 1,305,692 shares of the company’s stock worth $52,319,000 after purchasing an additional 313,718 shares during the last quarter. KBC Group NV grew its holdings in Campbell Soup by 95.3% in the second quarter. KBC Group NV now owns 536,341 shares of the company’s stock worth $21,491,000 after purchasing an additional 261,650 shares during the last quarter. Finally, Stevens Capital Management LP lifted its stake in shares of Campbell Soup by 181.5% during the second quarter. Stevens Capital Management LP now owns 306,176 shares of the company’s stock worth $12,268,000 after buying an additional 197,396 shares during the period. 52.20% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Campbell Soup from a “sell” rating to a “hold” rating and set a $45.00 price objective for the company in a research note on Friday, June 7th. ValuEngine upgraded shares of Campbell Soup from a “sell” rating to a “hold” rating in a research note on Monday, May 13th. Barclays reiterated a “sell” rating and set a $43.00 price objective on shares of Campbell Soup in a research note on Sunday, June 16th. UBS Group set a $36.00 price objective on shares of Campbell Soup and gave the stock a “sell” rating in a research note on Thursday, June 6th. Finally, Bank of America lifted their price objective on shares of Campbell Soup from $36.00 to $40.00 and gave the stock an “underperform” rating in a research note on Tuesday. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $42.09.
In related news, Director Randall W. Larrimore sold 3,400 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $41.36, for a total transaction of $140,624.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robert Furbee sold 6,000 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $40.10, for a total transaction of $240,600.00. Following the transaction, the insider now owns 18,015 shares of the company’s stock, valued at $722,401.50. The disclosure for this sale can be found here. Insiders have sold 19,132 shares of company stock valued at $780,333 over the last 90 days. 37.20% of the stock is currently owned by insiders.
NYSE:CPB opened at $45.97 on Wednesday. The company has a market capitalization of $13.90 billion, a P/E ratio of 19.99, a PEG ratio of 3.56 and a beta of 0.45. The firm has a fifty day simple moving average of $42.25 and a 200-day simple moving average of $39.43. Campbell Soup has a 12 month low of $32.03 and a 12 month high of $48.03. The company has a current ratio of 0.58, a quick ratio of 0.36 and a debt-to-equity ratio of 6.39.
Campbell Soup (NYSE:CPB) last posted its earnings results on Friday, August 30th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.08. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.98 billion. Campbell Soup had a net margin of 2.25% and a return on equity of 62.59%. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.25 earnings per share. Equities analysts forecast that Campbell Soup will post 2.53 EPS for the current year.
Campbell Soup Profile
Campbell Soup Company, together with its subsidiaries, manufactures and markets branded food and beverage products. It operates through three segments: Americas Simple Meals and Beverages, Global Biscuits and Snacks, and Campbell Fresh. The Americas Simple Meals and Beverages segment engages in the retail and food service of Campbell's condensed and ready-to-serve soups; Swanson broth and stocks; Prego pasta sauces; Pace Mexican sauces; Campbell's gravies, pastas, beans, and dinner sauces; Swanson canned poultry products; Plum food and snack products; V8 juices and beverages; Campbell's tomato juices; and Pacific broth, soups, non-dairy beverages, and other simple meals.
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