Pearl River Capital LLC boosted its stake in shares of Campbell Soup (NYSE:CPB) by 405.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,534 shares of the company’s stock after acquiring an additional 9,254 shares during the quarter. Pearl River Capital LLC’s holdings in Campbell Soup were worth $572,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Prestige Wealth Management Group LLC boosted its stake in shares of Campbell Soup by 135.1% in the first quarter. Prestige Wealth Management Group LLC now owns 590 shares of the company’s stock worth $28,000 after acquiring an additional 339 shares during the last quarter. Flagship Harbor Advisors LLC raised its position in Campbell Soup by 43.7% in the first quarter. Flagship Harbor Advisors LLC now owns 658 shares of the company’s stock valued at $30,000 after purchasing an additional 200 shares during the period. Rosenberg Matthew Hamilton purchased a new stake in Campbell Soup in the second quarter valued at $30,000. Rational Advisors LLC raised its position in Campbell Soup by 665.8% in the first quarter. Rational Advisors LLC now owns 850 shares of the company’s stock valued at $39,000 after purchasing an additional 739 shares during the period. Finally, Smithfield Trust Co. purchased a new stake in Campbell Soup in the first quarter valued at $58,000. Institutional investors own 47.57% of the company’s stock.
A number of equities research analysts have commented on CPB shares. Deutsche Bank lifted their target price on Campbell Soup from $52.00 to $53.00 and gave the company a “hold” rating in a research report on Friday, May 22nd. Jefferies Financial Group upgraded Campbell Soup from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research report on Monday, June 22nd. Zacks Investment Research downgraded Campbell Soup from a “buy” rating to a “hold” rating and set a $60.00 price objective on the stock. in a report on Tuesday, May 19th. Wells Fargo & Co cut their price objective on Campbell Soup from $56.00 to $54.00 and set an “equal weight” rating on the stock in a report on Thursday, June 4th. Finally, Stifel Nicolaus boosted their price objective on Campbell Soup from $49.00 to $53.00 and gave the company a “hold” rating in a report on Thursday, June 4th. Six equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $51.12.
CPB traded down $0.01 on Thursday, hitting $52.37. 65,313 shares of the company were exchanged, compared to its average volume of 1,525,384. Campbell Soup has a twelve month low of $40.70 and a twelve month high of $57.54. The company has a market cap of $15.85 billion, a price-to-earnings ratio of 10.40, a price-to-earnings-growth ratio of 2.21 and a beta of 0.41. The company has a current ratio of 0.84, a quick ratio of 0.62 and a debt-to-equity ratio of 2.01. The firm has a 50-day moving average price of $49.93 and a two-hundred day moving average price of $49.21.
Campbell Soup (NYSE:CPB) last released its earnings results on Wednesday, June 3rd. The company reported $0.83 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.08. Campbell Soup had a return on equity of 46.05% and a net margin of 18.34%. The firm had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the previous year, the firm posted $0.56 EPS. Campbell Soup’s revenue for the quarter was up 14.6% on a year-over-year basis. Equities analysts expect that Campbell Soup will post 2.94 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Wednesday, July 15th were given a dividend of $0.35 per share. The ex-dividend date was Tuesday, July 14th. This represents a $1.40 annualized dividend and a dividend yield of 2.67%. Campbell Soup’s dividend payout ratio is currently 60.87%.
Campbell Soup Company 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.
Further Reading: Market Capitalization and Individual Investors
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