Envestnet Asset Management Inc. trimmed its stake in Campbell Soup (NYSE:CPB) by 98.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,673 shares of the company’s stock after selling 212,525 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Campbell Soup were worth $115,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Whittier Trust Co. raised its holdings in shares of Campbell Soup by 180.0% in the first quarter. Whittier Trust Co. now owns 2,800 shares of the company’s stock worth $121,000 after acquiring an additional 1,800 shares during the last quarter. Intact Investment Management Inc. purchased a new stake in shares of Campbell Soup in the first quarter valued at $217,000. Zeke Capital Advisors LLC purchased a new stake in shares of Campbell Soup in the fourth quarter valued at $220,000. Valley National Advisers Inc. grew its position in shares of Campbell Soup by 101.4% in the fourth quarter. Valley National Advisers Inc. now owns 4,703 shares of the company’s stock valued at $226,000 after purchasing an additional 2,368 shares during the period. Finally, Wedbush Securities Inc. purchased a new stake in shares of Campbell Soup in the fourth quarter valued at $247,000. 48.64% of the stock is owned by institutional investors.
In other news, Director Maria Teresa Hilado purchased 2,000 shares of the stock in a transaction on Wednesday, June 6th. The stock was purchased at an average price of $33.22 per share, with a total value of $66,440.00. Following the completion of the transaction, the director now owns 4,330 shares in the company, valued at $143,842.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 37.20% of the stock is currently owned by insiders.
Campbell Soup (NYSE:CPB) last posted its quarterly earnings results on Friday, May 18th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.10. Campbell Soup had a return on equity of 56.59% and a net margin of 5.97%. The firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the business earned $0.59 earnings per share. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. research analysts anticipate that Campbell Soup will post 2.87 earnings per share for the current year.
A number of brokerages have recently commented on CPB. Sanford C. Bernstein set a $33.00 price objective on Campbell Soup and gave the company a “sell” rating in a research report on Tuesday, May 22nd. Piper Jaffray Companies set a $43.00 price objective on Campbell Soup and gave the company a “sell” rating in a research report on Wednesday, April 18th. TheStreet downgraded Campbell Soup from a “b-” rating to a “c” rating in a research report on Friday, May 18th. Stifel Nicolaus lowered their price objective on Campbell Soup from $44.00 to $35.00 and set a “hold” rating for the company in a research report on Monday, May 21st. Finally, Barclays lowered their price objective on Campbell Soup from $47.00 to $33.00 and set an “underweight” rating for the company in a research report on Monday, May 21st. Ten equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. Campbell Soup presently has an average rating of “Sell” and a consensus price target of $40.21.
About Campbell Soup
Campbell Soup Company, together with its subsidiaries, manufactures and markets branded food and beverage products. It operates through three segments: Americas Simple Meals and Beverages, Global Biscuits and Snacks, and Campbell Fresh. The Americas Simple Meals and Beverages segment engages in the retail and food service of Campbell's condensed and ready-to-serve soups; Swanson broth and stocks; Prego pasta sauces; Pace Mexican sauces; Campbell's gravies, pastas, beans, and dinner sauces; Swanson canned poultry products; Plum food and snack products; V8 juices and beverages; and Campbell's tomato juices in the United States, Canada, and Latin America.
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