BlackRock Inc. Cuts Stake in Campbell Soup Company (CPB)

BlackRock Inc. trimmed its position in Campbell Soup Company (NYSE:CPB) by 1.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,437,630 shares of the company’s stock after selling 239,306 shares during the period. BlackRock Inc. owned approximately 4.76% of Campbell Soup worth $752,921,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of CPB. Motco lifted its holdings in shares of Campbell Soup by 301.9% in the second quarter. Motco now owns 2,130 shares of the company’s stock valued at $111,000 after purchasing an additional 1,600 shares in the last quarter. Johnson Financial Group Inc. lifted its holdings in shares of Campbell Soup by 19.2% in the first quarter. Johnson Financial Group Inc. now owns 2,535 shares of the company’s stock valued at $145,000 after purchasing an additional 408 shares in the last quarter. Mercer Capital Advisers Inc. lifted its holdings in shares of Campbell Soup by 13.6% in the second quarter. Mercer Capital Advisers Inc. now owns 3,374 shares of the company’s stock valued at $176,000 after purchasing an additional 405 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Campbell Soup by 7.0% in the first quarter. Van ECK Associates Corp now owns 3,122 shares of the company’s stock valued at $179,000 after purchasing an additional 204 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Campbell Soup by 6.1% in the second quarter. Victory Capital Management Inc. now owns 3,733 shares of the company’s stock valued at $195,000 after purchasing an additional 213 shares in the last quarter. Institutional investors own 44.29% of the company’s stock.

A number of brokerages have recently commented on CPB. Zacks Investment Research lowered Campbell Soup from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Barclays PLC restated a “sell” rating on shares of Campbell Soup in a report on Tuesday, July 25th. Piper Jaffray Companies began coverage on Campbell Soup in a report on Wednesday, May 24th. They issued a “neutral” rating and a $59.00 price target on the stock. Royal Bank Of Canada cut their price target on Campbell Soup from $60.00 to $56.00 and set a “sector perform” rating on the stock in a report on Friday, September 1st. Finally, Credit Suisse Group restated a “sell” rating on shares of Campbell Soup in a report on Wednesday, May 24th. Seven analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $52.33.

Shares of Campbell Soup Company (CPB) opened at 46.51 on Thursday. The firm has a 50-day moving average price of $50.88 and a 200 day moving average price of $54.73. The company has a market cap of $14.09 billion, a price-to-earnings ratio of 16.09 and a beta of 0.36. Campbell Soup Company has a 1-year low of $45.28 and a 1-year high of $64.23.

Campbell Soup (NYSE:CPB) last released its quarterly earnings results on Thursday, August 31st. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). Campbell Soup had a net margin of 11.24% and a return on equity of 59.84%. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same quarter last year, the firm posted $0.46 EPS. Campbell Soup’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, analysts predict that Campbell Soup Company will post $3.05 EPS for the current fiscal year.

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Campbell Soup Company Profile

Campbell Soup Company is a food company, which manufactures and markets food products. The Company’s segments include Americas Simple Meals and Beverages; Global Biscuits and Snacks, and Campbell Fresh. The Americas Simple Meals and Beverages segment includes the retail and food service channel businesses.

Institutional Ownership by Quarter for Campbell Soup (NYSE:CPB)

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