Campbell Soup (NASDAQ:CPB) Sees Large Decrease in Short Interest

Campbell Soup (NASDAQ:CPB) was the target of a significant decline in short interest in August. As of August 15th, there was short interest totalling 18,010,000 shares, a decline of 5.6% from the July 31st total of 19,070,000 shares. Approximately 9.1% of the shares of the stock are sold short. Based on an average daily volume of 2,670,000 shares, the short-interest ratio is currently 6.7 days.

Hedge Funds Weigh In On Campbell Soup

A number of hedge funds have recently bought and sold shares of CPB. Mather Group LLC. bought a new stake in Campbell Soup during the first quarter valued at $28,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Campbell Soup during the 2nd quarter valued at about $32,000. Jones Financial Companies Lllp acquired a new stake in Campbell Soup during the fourth quarter worth approximately $31,000. Larson Financial Group LLC increased its holdings in Campbell Soup by 3,760.9% in the first quarter. Larson Financial Group LLC now owns 888 shares of the company’s stock worth $39,000 after purchasing an additional 865 shares in the last quarter. Finally, TruNorth Capital Management LLC acquired a new position in Campbell Soup in the second quarter valued at approximately $44,000. Institutional investors own 52.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Wells Fargo & Company raised their target price on Campbell Soup from $47.00 to $49.00 and gave the company an “equal weight” rating in a report on Friday. Sanford C. Bernstein upgraded Campbell Soup from an “underperform” rating to a “market perform” rating and lifted their target price for the company from $42.00 to $46.00 in a research report on Wednesday, May 15th. DA Davidson increased their target price on shares of Campbell Soup from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Citigroup lifted their price target on shares of Campbell Soup from $41.00 to $42.00 and gave the company a “sell” rating in a report on Thursday, May 23rd. Finally, TD Cowen increased their price objective on shares of Campbell Soup from $46.00 to $47.00 and gave the company a “hold” rating in a research note on Wednesday, August 21st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Campbell Soup has a consensus rating of “Hold” and an average price target of $47.33.

Campbell Soup Stock Up 1.0 %

Shares of CPB opened at $49.72 on Monday. The company has a market capitalization of $14.84 billion, a PE ratio of 20.13, a PEG ratio of 3.26 and a beta of 0.16. The stock’s 50-day moving average price is $47.45 and its two-hundred day moving average price is $45.18. The company has a current ratio of 0.61, a quick ratio of 0.24 and a debt-to-equity ratio of 1.52. Campbell Soup has a 12 month low of $37.94 and a 12 month high of $50.99.

Campbell Soup (NASDAQ:CPB) last announced its earnings results on Thursday, August 29th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.62 by $0.01. Campbell Soup had a return on equity of 24.08% and a net margin of 5.88%. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the prior year, the business posted $0.50 earnings per share. The firm’s revenue was up 10.9% on a year-over-year basis. On average, analysts anticipate that Campbell Soup will post 3.18 EPS for the current year.

Campbell Soup Company 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.