Tyers Asset Management LLC grew its position in Campbell Soup (NYSE:CPB) by 7.1% in the first quarter, HoldingsChannel.com reports. The fund owned 22,036 shares of the company’s stock after buying an additional 1,456 shares during the period. Tyers Asset Management LLC’s holdings in Campbell Soup were worth $840,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Third Point LLC grew its position in shares of Campbell Soup by 16.7% in the 4th quarter. Third Point LLC now owns 21,000,000 shares of the company’s stock valued at $692,790,000 after acquiring an additional 3,000,000 shares during the period. Vanguard Group Inc boosted its holdings in shares of Campbell Soup by 1.1% during the 3rd quarter. Vanguard Group Inc now owns 20,757,540 shares of the company’s stock worth $760,348,000 after buying an additional 221,311 shares during the period. BlackRock Inc. boosted its holdings in shares of Campbell Soup by 1.2% during the 1st quarter. BlackRock Inc. now owns 14,998,702 shares of the company’s stock worth $571,902,000 after buying an additional 182,196 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Campbell Soup by 7.1% during the 4th quarter. Bank of New York Mellon Corp now owns 6,723,599 shares of the company’s stock worth $221,812,000 after buying an additional 446,435 shares during the period. Finally, Beutel Goodman & Co Ltd. boosted its holdings in shares of Campbell Soup by 3.9% during the 1st quarter. Beutel Goodman & Co Ltd. now owns 2,955,783 shares of the company’s stock worth $84,337,000 after buying an additional 109,593 shares during the period. 52.08% of the stock is owned by institutional investors.
CPB has been the subject of several research analyst reports. ValuEngine raised shares of Campbell Soup from a “sell” rating to a “hold” rating in a report on Monday, April 15th. 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. Evercore ISI began coverage on shares of Campbell Soup in a research note on Tuesday. They issued an “in-line” rating and a $43.00 price objective for the company. Wells Fargo & Co boosted their target price on shares of Campbell Soup from $38.00 to $41.00 and gave the company a “market perform” rating in a research report on Thursday, June 6th. Finally, UBS Group set a $36.00 target price on shares of Campbell Soup and gave the company a “sell” rating in a research report on Thursday, June 6th. Six investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. Campbell Soup currently has a consensus rating of “Hold” and a consensus target price of $40.10.
CPB stock opened at $42.26 on Friday. The company has a market cap of $12.84 billion, a P/E ratio of 14.72, a P/E/G ratio of 3.35 and a beta of 0.46. Campbell Soup has a 1 year low of $32.03 and a 1 year high of $43.98. The company has a quick ratio of 0.36, a current ratio of 0.62 and a debt-to-equity ratio of 6.07.
Campbell Soup (NYSE:CPB) last released its quarterly earnings data on Wednesday, June 5th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.09. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Campbell Soup had a net margin of 3.19% and a return on equity of 54.23%. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.70 EPS. As a group, research analysts expect that Campbell Soup will post 2.55 earnings per share for the current fiscal year.
About Campbell Soup
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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