Adirondack Trust Co. Maintains Position in Campbell Soup Company (CPB)
Adirondack Trust Co. maintained its stake in shares of Campbell Soup Company (NYSE:CPB) during the second quarter, Holdings Channel reports. The firm owned 2,160 shares of the company’s stock at the end of the second quarter. Adirondack Trust Co.’s holdings in Campbell Soup were worth $113,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in CPB. BlackRock Inc. boosted its stake in shares of Campbell Soup 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. Vanguard Group Inc. boosted its stake in shares of Campbell Soup by 2.8% in the first quarter. Vanguard Group Inc. now owns 12,943,076 shares of the company’s stock valued at $740,862,000 after buying an additional 356,448 shares during the last quarter. State Street Corp boosted its position in Campbell Soup by 0.8% in the first quarter. State Street Corp now owns 8,667,988 shares of the company’s stock valued at $496,147,000 after buying an additional 66,612 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Campbell Soup by 2.5% in the first quarter. Bank of New York Mellon Corp now owns 5,870,217 shares of the company’s stock valued at $336,011,000 after buying an additional 142,722 shares in the last quarter. Finally, Waldron LP boosted its position in Campbell Soup by 9,981.3% in the first quarter. Waldron LP now owns 3,730,196 shares of the company’s stock valued at $225,418,000 after buying an additional 3,693,195 shares in the last quarter. Institutional investors and hedge funds own 43.84% of the company’s stock.
Shares of Campbell Soup Company (NYSE CPB) opened at 53.25 on Friday. The stock’s 50 day moving average is $52.42 and its 200-day moving average is $57.04. Campbell Soup Company has a 12-month low of $50.62 and a 12-month high of $64.23. The stock has a market cap of $16.14 billion, a price-to-earnings ratio of 33.62 and a beta of 0.34.
Campbell Soup (NYSE:CPB) last released its quarterly earnings results on Friday, May 19th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by $0.05. The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.87 billion. Campbell Soup had a return on equity of 59.83% and a net margin of 6.17%. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same period last year, the firm earned $0.65 EPS. Equities analysts anticipate that Campbell Soup Company will post $3.05 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Thursday, July 13th were paid 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 (DPR) is presently 88.05%.
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Several research firms recently issued reports on CPB. Credit Suisse Group set a $47.00 target price on shares of Campbell Soup and gave the company a “sell” rating in a research note on Sunday, July 23rd. Piper Jaffray Companies began coverage on shares of Campbell Soup in a research note on Wednesday, May 24th. They issued a “neutral” rating and a $59.00 target price for the company. Barclays PLC reiterated a “sell” rating on shares of Campbell Soup in a research note on Tuesday, July 25th. J P Morgan Chase & Co reiterated a “neutral” rating and issued a $55.00 target price (down from $60.00) on shares of Campbell Soup in a research note on Wednesday, June 28th. Finally, 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 note on Tuesday, July 18th. Seven investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target 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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