Meyer Handelman Co. Lowers Stock Position in Campbell Soup (NYSE:CPB)

Meyer Handelman Co. decreased its position in shares of Campbell Soup (NYSE:CPB) by 0.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 96,910 shares of the company’s stock after selling 825 shares during the period. Meyer Handelman Co.’s holdings in Campbell Soup were worth $4,379,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. M&G Plc purchased a new position in shares of Campbell Soup during the 2nd quarter valued at $469,000. Wedmont Private Capital purchased a new position in shares of Campbell Soup in the second quarter valued at about $456,000. Czech National Bank boosted its stake in shares of Campbell Soup by 8.3% in the second quarter. Czech National Bank now owns 37,492 shares of the company’s stock worth $1,694,000 after acquiring an additional 2,879 shares during the period. Manning & Napier Advisors LLC purchased a new stake in shares of Campbell Soup during the second quarter worth about $4,805,000. Finally, Simplicity Wealth LLC bought a new stake in Campbell Soup during the 2nd quarter valued at approximately $214,000. Hedge funds and other institutional investors own 52.35% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CPB. DA Davidson increased their price objective on shares of Campbell Soup from $47.00 to $49.00 and gave the company a “buy” rating in a report on Monday, June 10th. StockNews.com upgraded shares of Campbell Soup from a “sell” rating to a “hold” rating in a report on Tuesday. Sanford C. Bernstein raised shares of Campbell Soup from an “underperform” rating to a “market perform” rating and increased their price objective for the company from $42.00 to $46.00 in a report on Wednesday, May 15th. JPMorgan Chase & Co. raised Campbell Soup from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $45.00 to $52.00 in a report on Wednesday, June 26th. Finally, Citigroup increased their price target on Campbell Soup from $41.00 to $42.00 and gave the company a “sell” rating in a research note on Thursday, May 23rd. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $46.40.

Campbell Soup Trading Up 0.6 %

Shares of CPB stock traded up $0.27 during trading hours on Tuesday, reaching $48.71. 1,496,955 shares of the stock were exchanged, compared to its average volume of 2,639,431. The company has a current ratio of 0.62, a quick ratio of 0.24 and a debt-to-equity ratio of 1.47. Campbell Soup has a 12-month low of $37.94 and a 12-month high of $50.63. The firm has a market capitalization of $14.54 billion, a price-to-earnings ratio of 19.72, a price-to-earnings-growth ratio of 2.90 and a beta of 0.16. The company’s 50-day moving average price is $45.87 and its 200-day moving average price is $44.59.

Campbell Soup (NYSE:CPB) last released its earnings results on Wednesday, June 5th. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.05. Campbell Soup had a return on equity of 23.26% and a net margin of 7.85%. The firm had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same quarter in the prior year, the firm posted $0.68 earnings per share. The company’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, equities analysts anticipate that Campbell Soup will post 3.08 earnings per share for the current year.

Campbell Soup Profile

Campbell Soup Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States and internationally. The company operates through Meals & Beverages and Snacks segments. The Meals & Beverages segment engages in the retail and foodservice businesses in the United States and Canada.