Ameriprise Financial Inc. Cuts Stake in Campbell Soup Company (CPB)

Ameriprise Financial Inc. reduced its position in shares of Campbell Soup Company (NYSE:CPB) by 19.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 156,949 shares of the company’s stock after selling 37,582 shares during the period. Ameriprise Financial Inc.’s holdings in Campbell Soup Company were worth $8,982,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Bank of New York Mellon Corp increased its stake in shares of Campbell Soup Company by 2.5% in the first quarter. Bank of New York Mellon Corp now owns 5,870,217 shares of the company’s stock worth $336,011,000 after buying an additional 142,722 shares during the period. Waldron LP increased its stake in shares of Campbell Soup Company by 9,981.3% in the first quarter. Waldron LP now owns 3,730,196 shares of the company’s stock worth $225,418,000 after buying an additional 3,693,195 shares during the period. APG Asset Management N.V. increased its stake in shares of Campbell Soup Company by 19.4% in the first quarter. APG Asset Management N.V. now owns 2,300,069 shares of the company’s stock worth $131,656,000 after buying an additional 373,300 shares during the period. Norges Bank purchased a new stake in shares of Campbell Soup Company during the fourth quarter worth $115,630,000. Finally, AQR Capital Management LLC increased its stake in shares of Campbell Soup Company by 48.8% in the fourth quarter. AQR Capital Management LLC now owns 1,822,150 shares of the company’s stock worth $110,185,000 after buying an additional 597,985 shares during the period. Institutional investors and hedge funds own 43.93% of the company’s stock.

Institutional Ownership by Quarter for Campbell Soup Company (NYSE:CPB)

Campbell Soup Company (CPB) opened at 54.82 on Tuesday. The company’s 50-day moving average price is $57.25 and its 200-day moving average price is $59.02. Campbell Soup Company has a 52 week low of $52.58 and a 52 week high of $67.89. The company has a market capitalization of $16.61 billion, a P/E ratio of 34.61 and a beta of 0.35.

Campbell Soup Company (NYSE:CPB) last issued its earnings results on Friday, May 19th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.64 by $0.05. Campbell Soup Company had a return on equity of 59.83% and a net margin of 6.17%. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period in the previous year, the company posted $0.65 earnings per share. The company’s quarterly revenue was down .9% on a year-over-year basis. On average, equities analysts forecast that Campbell Soup Company will post $3.05 EPS for the current fiscal year.

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A number of equities research analysts have recently weighed in on CPB shares. Credit Suisse Group reiterated a “sell” rating on shares of Campbell Soup Company in a report on Wednesday, May 24th. Sanford C. Bernstein downgraded Campbell Soup Company from a “market perform” rating to an “underperform” rating and set a $54.00 price target for the company. in a report on Tuesday, March 21st. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $60.00 price target (down from $63.00) on shares of Campbell Soup Company in a report on Tuesday, February 21st. Zacks Investment Research downgraded Campbell Soup Company from a “buy” rating to a “hold” rating in a report on Wednesday, February 22nd. Finally, Wells Fargo & Company reiterated a “market perform” rating and issued a $58.00 price target (down from $62.50) on shares of Campbell Soup Company in a report on Tuesday, May 23rd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $59.95.

In related news, Director Bennett Dorrance bought 915,766 shares of the company’s stock in a transaction dated Thursday, March 30th. The stock was acquired at an average cost of $57.34 per share, with a total value of $52,510,022.44. Following the acquisition, the director now owns 24,978 shares in the company, valued at approximately $1,432,238.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 37.30% of the company’s stock.

About Campbell Soup Company

Campbell Soup Company is a food company, which manufactures and markets food products. The Company’s segments include Americas Simple Meals and Beverages; Global Biscuits and Snacks, and Campbell Fresh. The Americas Simple Meals and Beverages segment includes the retail and food service channel businesses.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “CPB”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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