Campbell Soup Company (CPB) Shares Sold by First Manhattan Co.
First Manhattan Co. lowered its position in shares of Campbell Soup Company (NYSE:CPB) by 24.0% during the second quarter, Holdings Channel reports. The firm owned 6,350 shares of the company’s stock after selling 2,000 shares during the period. First Manhattan Co.’s holdings in Campbell Soup were worth $331,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of CPB. Daiwa Securities Group Inc. raised its stake in shares of Campbell Soup by 9.3% in the second quarter. Daiwa Securities Group Inc. now owns 5,900 shares of the company’s stock worth $308,000 after buying an additional 500 shares during the period. Rothschild Asset Management Inc. raised its stake in shares of Campbell Soup by 6.2% in the second quarter. Rothschild Asset Management Inc. now owns 14,993 shares of the company’s stock worth $782,000 after buying an additional 878 shares during the period. Great West Life Assurance Co. Can raised its stake in shares of Campbell Soup by 3.3% in the second quarter. Great West Life Assurance Co. Can now owns 428,765 shares of the company’s stock worth $22,316,000 after buying an additional 13,757 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of Campbell Soup by 2.2% in the second quarter. Janney Montgomery Scott LLC now owns 20,755 shares of the company’s stock worth $1,082,000 after buying an additional 449 shares during the period. Finally, Arthur M. Cohen & Associates LLC raised its stake in shares of Campbell Soup by 2.0% in the second quarter. Arthur M. Cohen & Associates LLC now owns 15,184 shares of the company’s stock worth $792,000 after buying an additional 305 shares during the period. 43.84% of the stock is owned by institutional investors and hedge funds.
Campbell Soup Company (NYSE:CPB) opened at 53.21 on Thursday. The firm has a market capitalization of $16.13 billion, a price-to-earnings ratio of 33.59 and a beta of 0.34. The company’s 50-day moving average price is $52.45 and its 200 day moving average price is $57.06. Campbell Soup Company has a 12 month low of $50.62 and a 12 month high of $64.23.
Campbell Soup (NYSE:CPB) last posted its quarterly earnings results on Friday, May 19th. The company reported $0.59 earnings per share for the quarter, missing the Zacks’ 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 during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the prior year, the business earned $0.65 earnings per share. The firm’s quarterly revenue was down .9% on a year-over-year basis. Analysts predict that Campbell Soup Company will post $3.05 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Thursday, July 13th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend was Tuesday, July 11th. Campbell Soup’s dividend payout ratio is presently 88.05%.
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A number of brokerages have weighed in on CPB. Barclays PLC reaffirmed a “sell” rating on shares of Campbell Soup in a research report on Tuesday, July 25th. Credit Suisse Group set a $47.00 target price on Campbell Soup and gave the company a “sell” rating in a research report on Sunday, July 23rd. Zacks Investment Research lowered Campbell Soup from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Royal Bank Of Canada set a $60.00 target price on Campbell Soup and gave the company a “hold” rating in a research report on Tuesday, July 18th. Finally, Morgan Stanley decreased their target price on Campbell Soup from $55.00 to $52.00 and set an “underweight” rating for the company in a research report on Tuesday, July 18th. Seven 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 company currently has a consensus rating of “Hold” and an average target price of $57.24.
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.
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