Campbell Soup (NASDAQ:CPB) Stake Trimmed by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp lowered its stake in Campbell Soup (NASDAQ:CPB) by 20.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,525 shares of the company’s stock after selling 8,147 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Campbell Soup were worth $1,470,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Van ECK Associates Corp grew its stake in Campbell Soup by 1.9% during the 2nd quarter. Van ECK Associates Corp now owns 8,709,949 shares of the company’s stock valued at $393,603,000 after acquiring an additional 161,392 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Campbell Soup by 21.2% during the 1st quarter. Bank of New York Mellon Corp now owns 3,315,516 shares of the company’s stock valued at $147,375,000 after acquiring an additional 580,411 shares in the last quarter. Norges Bank purchased a new position in Campbell Soup during the 4th quarter valued at about $125,689,000. LSV Asset Management grew its stake in Campbell Soup by 5,022.5% during the 2nd quarter. LSV Asset Management now owns 2,438,300 shares of the company’s stock valued at $110,187,000 after acquiring an additional 2,390,700 shares in the last quarter. Finally, Nordea Investment Management AB grew its stake in Campbell Soup by 7.3% during the 1st quarter. Nordea Investment Management AB now owns 1,246,867 shares of the company’s stock valued at $55,554,000 after acquiring an additional 85,099 shares in the last quarter. Hedge funds and other institutional investors own 52.35% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CPB. DA Davidson lifted their target price on Campbell Soup from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Royal Bank of Canada lifted their target price on Campbell Soup from $47.00 to $51.00 and gave the company a “sector perform” rating in a research note on Friday, September 13th. JPMorgan Chase & Co. lifted their price target on Campbell Soup from $55.00 to $57.00 and gave the company an “overweight” rating in a report on Wednesday, September 11th. Wells Fargo & Company lifted their price target on Campbell Soup from $49.00 to $51.00 and gave the company an “equal weight” rating in a report on Wednesday, September 11th. Finally, Barclays lifted their price target on Campbell Soup from $45.00 to $49.00 and gave the company an “underweight” rating in a report on Thursday, September 12th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $48.92.

Campbell Soup Stock Down 0.5 %

Shares of Campbell Soup stock opened at $50.84 on Friday. The stock has a market capitalization of $15.18 billion, a P/E ratio of 20.58, a PEG ratio of 3.09 and a beta of 0.18. The company has a quick ratio of 0.24, a current ratio of 0.61 and a debt-to-equity ratio of 1.52. The stock has a 50 day moving average price of $49.07 and a two-hundred day moving average price of $46.00. Campbell Soup has a 12-month low of $37.94 and a 12-month high of $52.81.

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