Graypoint LLC Buys New Position in Campbell Soup (NASDAQ:CPB)

Graypoint LLC purchased a new stake in Campbell Soup (NASDAQ:CPB) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 5,100 shares of the company’s stock, valued at approximately $230,000.

A number of other hedge funds have also added to or reduced their stakes in CPB. Van ECK Associates Corp grew its holdings in shares of Campbell Soup by 1.9% during the 2nd quarter. Van ECK Associates Corp now owns 8,709,949 shares of the company’s stock worth $393,603,000 after acquiring an additional 161,392 shares during the period. Banque Cantonale Vaudoise grew its stake in Campbell Soup by 47.1% in the second quarter. Banque Cantonale Vaudoise now owns 56,281 shares of the company’s stock worth $2,544,000 after purchasing an additional 18,008 shares during the period. Rothschild Investment LLC purchased a new stake in Campbell Soup in the second quarter worth $44,000. Bryn Mawr Capital Management LLC raised its holdings in Campbell Soup by 92.1% in the second quarter. Bryn Mawr Capital Management LLC now owns 22,452 shares of the company’s stock worth $1,023,000 after purchasing an additional 10,763 shares in the last quarter. Finally, WBI Investments LLC bought a new stake in shares of Campbell Soup during the 2nd quarter valued at $340,000. 52.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CPB has been the subject of several research reports. Citigroup increased their price target on shares of Campbell Soup from $41.00 to $42.00 and gave the stock a “sell” rating in a research note on Thursday, May 23rd. Wells Fargo & Company lifted their target price on shares of Campbell Soup from $47.00 to $49.00 and gave the company an “equal weight” rating in a report on Friday. JPMorgan Chase & Co. raised Campbell Soup from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $45.00 to $52.00 in a research report on Wednesday, June 26th. DA Davidson raised their price objective on Campbell Soup from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $45.00 target price on shares of Campbell Soup in a report on Tuesday, August 27th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $47.33.

Campbell Soup Price Performance

Shares of NASDAQ:CPB opened at $49.72 on Tuesday. The business has a 50-day simple moving average of $47.54 and a two-hundred day simple moving average of $45.24. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.24 and a current ratio of 0.61. The firm has a market cap of $14.84 billion, a price-to-earnings ratio of 20.13, a price-to-earnings-growth ratio of 3.26 and a beta of 0.16. Campbell Soup has a fifty-two week low of $37.94 and a fifty-two week high of $50.99.

Campbell Soup (NASDAQ:CPB) last announced its earnings results on Thursday, August 29th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.50 EPS. On average, analysts expect that Campbell Soup will post 3.18 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.