Lucus Advisors LLC Purchases New Position in Campbell Soup Company (CPB)
Lucus Advisors LLC purchased a new stake in shares of Campbell Soup Company (NYSE:CPB) during the first quarter, Holdings Channel reports. The fund purchased 7,178 shares of the company’s stock, valued at approximately $411,000.
Other institutional investors have also recently added to or reduced their stakes in the company. United Capital Financial Advisers LLC boosted its position in Campbell Soup Company by 3.5% in the first quarter. United Capital Financial Advisers LLC now owns 8,535 shares of the company’s stock valued at $489,000 after buying an additional 290 shares during the last quarter. KCG Holdings Inc. boosted its position in Campbell Soup Company by 167.8% in the first quarter. KCG Holdings Inc. now owns 16,291 shares of the company’s stock valued at $932,000 after buying an additional 10,208 shares during the last quarter. Epoch Investment Partners Inc. boosted its position in Campbell Soup Company by 458.2% in the first quarter. Epoch Investment Partners Inc. now owns 320,664 shares of the company’s stock valued at $18,355,000 after buying an additional 263,219 shares during the last quarter. BlackRock Inc. boosted its position in Campbell Soup Company by 2,522.6% in the first quarter. BlackRock Inc. now owns 14,676,936 shares of the company’s stock valued at $840,105,000 after buying an additional 14,117,312 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Campbell Soup Company during the first quarter valued at $20,835,000. 43.93% of the stock is currently owned by hedge funds and other institutional investors.
Campbell Soup Company (NYSE CPB) opened at 53.58 on Monday. Campbell Soup Company has a 12 month low of $52.58 and a 12 month high of $67.89. The stock’s 50 day moving average price is $57.18 and its 200-day moving average price is $59.00. The stock has a market cap of $16.24 billion, a price-to-earnings ratio of 33.83 and a beta of 0.35.
Campbell Soup Company (NYSE:CPB) last released its earnings results on Friday, May 19th. The company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by $0.05. The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Campbell Soup Company had a return on equity of 59.83% and a net margin of 6.17%. The firm’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 EPS. Equities analysts expect that Campbell Soup Company will post $3.05 EPS for the current year.
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Several research firms have recently weighed in on CPB. BidaskClub cut Campbell Soup Company from a “sell” rating to a “strong sell” rating in a report on Saturday. Piper Jaffray Companies began coverage on Campbell Soup Company in a report on Wednesday, May 24th. They issued a “neutral” rating and a $59.00 target price on the stock. Credit Suisse Group reaffirmed a “sell” rating on shares of Campbell Soup Company in a report on Wednesday, May 24th. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $58.00 target price (down from $62.50) on shares of Campbell Soup Company in a report on Tuesday, May 23rd. Finally, Sanford C. Bernstein cut Campbell Soup Company from a “market perform” rating to an “underperform” rating and set a $54.00 target price on the stock. in a report on Tuesday, March 21st. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $59.95.
In related news, Director Bennett Dorrance bought 915,766 shares of the business’s stock in a transaction dated Thursday, March 30th. The stock was acquired at an average price of $57.34 per share, with a total value of $52,510,022.44. Following the completion of the purchase, the director now directly owns 24,978 shares of the company’s stock, valued at $1,432,238.52. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 37.30% of the stock is owned by insiders.
About Campbell Soup Company
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.
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