Campbell Soup Company (NYSE:CPB) Position Reduced by Bowen Hanes & Co. Inc.
Bowen Hanes & Co. Inc. reduced its position in shares of Campbell Soup Company (NYSE:CPB) by 2.6% during the second quarter, Holdings Channel reports. The institutional investor owned 6,510 shares of the company’s stock after selling 173 shares during the period. Bowen Hanes & Co. Inc.’s holdings in Campbell Soup were worth $339,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of CPB. IFP Advisors Inc raised its stake in shares of Campbell Soup by 2.3% in the first quarter. IFP Advisors Inc now owns 2,472 shares of the company’s stock worth $142,000 after buying an additional 55 shares in the last quarter. Johnson Financial Group Inc. raised its stake 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 worth $145,000 after buying an additional 408 shares in the last quarter. Van ECK Associates Corp raised its stake 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 worth $179,000 after buying an additional 204 shares in the last quarter. Mercer Capital Advisers Inc. raised its stake 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 worth $176,000 after buying an additional 405 shares in the last quarter. Finally, Whittier Trust Co. raised its stake in shares of Campbell Soup by 2.8% in the first quarter. Whittier Trust Co. now owns 3,469 shares of the company’s stock worth $198,000 after buying an additional 94 shares in the last quarter. Hedge funds and other institutional investors own 43.84% of the company’s stock.
Campbell Soup Company (NYSE CPB) opened at 53.18 on Monday. The stock’s 50 day moving average is $52.93 and its 200-day moving average is $57.39. Campbell Soup Company has a one year low of $50.62 and a one year high of $64.23. The firm has a market cap of $16.12 billion, a price-to-earnings ratio of 33.57 and a beta of 0.34.
Campbell Soup (NYSE:CPB) last released its earnings results on Friday, May 19th. The company reported $0.59 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by $0.05. Campbell Soup had a net margin of 6.17% and a return on equity of 59.83%. The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the prior year, the business posted $0.65 EPS. Campbell Soup’s revenue for the quarter was down .9% on a year-over-year basis. On average, equities research analysts expect that Campbell Soup Company will post $3.05 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Thursday, July 13th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.63%. The ex-dividend date was Tuesday, July 11th. Campbell Soup’s dividend payout ratio is currently 88.05%.
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A number of analysts have weighed in on the stock. Credit Suisse Group set a $47.00 target price on shares of Campbell Soup and gave the company a “sell” rating in a research report on Sunday, July 23rd. Barclays PLC restated a “sell” rating on shares of Campbell Soup in a research report on Tuesday, July 25th. Piper Jaffray Companies assumed coverage on shares of Campbell Soup in a research report on Wednesday, May 24th. They issued a “neutral” rating and a $59.00 target price on the stock. Royal Bank Of Canada set a $60.00 target price on shares of Campbell Soup and gave the company a “hold” rating in a research report on Tuesday, July 18th. Finally, J P Morgan Chase & Co restated a “neutral” rating and issued a $55.00 target price (down previously from $60.00) on shares of Campbell Soup in a research report on Wednesday, June 28th. Seven equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $57.24.
About Campbell Soup
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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