Manning & Napier Advisors LLC Reduces Position in Campbell Soup Company (NYSE:CPB)

Manning & Napier Advisors LLC reduced its position in shares of Campbell Soup Company (NYSE:CPB) by 11.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,164,130 shares of the company’s stock after selling 151,371 shares during the period. Manning & Napier Advisors LLC owned 0.38% of Campbell Soup worth $60,708,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Patriot Wealth Management Inc. increased its position in Campbell Soup by 3.3% in the second quarter. Patriot Wealth Management Inc. now owns 120,301 shares of the company’s stock worth $6,274,000 after buying an additional 3,816 shares during the last quarter. Bollard Group LLC increased its position in Campbell Soup by 1.5% in the second quarter. Bollard Group LLC now owns 54,990 shares of the company’s stock worth $2,868,000 after buying an additional 798 shares during the last quarter. First Quadrant L P CA increased its position in Campbell Soup by 205,418.1% in the second quarter. First Quadrant L P CA now owns 431,588 shares of the company’s stock worth $22,507,000 after buying an additional 431,378 shares during the last quarter. Jolley Asset Management LLC acquired a new position in Campbell Soup during the second quarter worth approximately $3,752,000. Finally, LS Investment Advisors LLC increased its position in Campbell Soup by 11.9% in the second quarter. LS Investment Advisors LLC now owns 9,824 shares of the company’s stock worth $512,000 after buying an additional 1,046 shares during the last quarter. 44.21% of the stock is currently owned by institutional investors.

Shares of Campbell Soup Company (NYSE CPB) traded down 0.68% on Tuesday, hitting $52.47. The company’s stock had a trading volume of 1,026,519 shares. Campbell Soup Company has a 1-year low of $50.62 and a 1-year high of $64.23. The firm has a market cap of $15.90 billion, a PE ratio of 33.12 and a beta of 0.34. The company has a 50 day moving average of $53.05 and a 200 day moving average of $57.46.

Campbell Soup (NYSE:CPB) last posted 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. The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.87 billion. Campbell Soup had a net margin of 6.17% and a return on equity of 59.83%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period last year, the company posted $0.65 earnings per share. Equities analysts forecast that Campbell Soup Company will post $3.05 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, July 31st. Stockholders 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 2.65%. The ex-dividend date of this dividend was Tuesday, July 11th. Campbell Soup’s dividend payout ratio (DPR) is presently 88.05%.

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A number of research analysts have recently commented on the company. Credit Suisse Group set a $47.00 price objective on Campbell Soup and gave the company a “sell” rating in a report on Sunday, July 23rd. Barclays PLC reiterated 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 research note on Wednesday, May 24th. They set a “neutral” rating and a $59.00 price target on the stock. Royal Bank Of Canada set a $60.00 price target on Campbell Soup and gave the stock a “hold” rating in a research note on Tuesday, July 18th. Finally, J P Morgan Chase & Co restated a “neutral” rating and set a $55.00 price target (down previously from $60.00) on shares of Campbell Soup in a research note on Wednesday, June 28th. Seven analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the stock. The company presently has an average 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.