Ballentine Partners LLC Raises Position in Campbell Soup (NASDAQ:CPB)

Ballentine Partners LLC lifted its stake in shares of Campbell Soup (NASDAQ:CPB) by 12.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,768 shares of the company’s stock after acquiring an additional 984 shares during the quarter. Ballentine Partners LLC’s holdings in Campbell Soup were worth $396,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Empirical Finance LLC grew its stake in Campbell Soup by 3.6% during the 1st quarter. Empirical Finance LLC now owns 6,912 shares of the company’s stock worth $307,000 after purchasing an additional 239 shares in the last quarter. North Star Investment Management Corp. grew its position in shares of Campbell Soup by 2.1% during the first quarter. North Star Investment Management Corp. now owns 12,357 shares of the company’s stock worth $549,000 after buying an additional 260 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund increased its stake in shares of Campbell Soup by 4.3% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 6,998 shares of the company’s stock worth $303,000 after buying an additional 286 shares during the period. Essex Financial Services Inc. raised its holdings in Campbell Soup by 5.5% in the first quarter. Essex Financial Services Inc. now owns 5,607 shares of the company’s stock valued at $249,000 after acquiring an additional 292 shares in the last quarter. Finally, Yousif Capital Management LLC lifted its stake in Campbell Soup by 1.1% in the first quarter. Yousif Capital Management LLC now owns 29,468 shares of the company’s stock worth $1,310,000 after acquiring an additional 327 shares during the last quarter. 52.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on CPB. Royal Bank of Canada reissued a “sector perform” rating and issued a $47.00 price objective on shares of Campbell Soup in a research report on Tuesday, August 27th. Sanford C. Bernstein upgraded Campbell Soup from an “underperform” rating to a “market perform” rating and raised their price target for the company from $42.00 to $46.00 in a research note on Wednesday, May 15th. Citigroup lifted their price target on Campbell Soup from $41.00 to $42.00 and gave the stock a “sell” rating in a report on Thursday, May 23rd. Wells Fargo & Company raised their target price on Campbell Soup from $47.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Friday, August 30th. Finally, DA Davidson boosted their target price on Campbell Soup from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $47.55.

Campbell Soup Trading Down 1.2 %

CPB opened at $51.10 on Wednesday. The company has a quick ratio of 0.24, a current ratio of 0.61 and a debt-to-equity ratio of 1.52. Campbell Soup has a 52 week low of $37.94 and a 52 week high of $52.81. The business’s 50 day moving average is $48.19 and its two-hundred day moving average is $45.58. The firm has a market cap of $15.26 billion, a price-to-earnings ratio of 20.69, a price-to-earnings-growth ratio of 3.26 and a beta of 0.18.

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