Campbell Soup (NASDAQ:CPB) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC trimmed its holdings in shares of Campbell Soup (NASDAQ:CPB) by 23.5% in the second quarter, Holdings Channel reports. The firm owned 3,315,995 shares of the company’s stock after selling 1,016,700 shares during the period. Renaissance Technologies LLC’s holdings in Campbell Soup were worth $149,850,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CPB. Jump Financial LLC lifted its holdings in Campbell Soup by 104.6% in the 4th quarter. Jump Financial LLC now owns 19,299 shares of the company’s stock worth $834,000 after buying an additional 9,867 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Campbell Soup by 2.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 217,328 shares of the company’s stock valued at $9,678,000 after purchasing an additional 4,173 shares during the last quarter. Beacon Pointe Advisors LLC grew its stake in Campbell Soup by 5.5% during the 4th quarter. Beacon Pointe Advisors LLC now owns 12,180 shares of the company’s stock valued at $527,000 after purchasing an additional 636 shares in the last quarter. Fiera Capital Corp purchased a new stake in Campbell Soup during the 4th quarter worth approximately $687,000. Finally, Panagora Asset Management Inc. raised its position in shares of Campbell Soup by 14.3% in the 4th quarter. Panagora Asset Management Inc. now owns 115,589 shares of the company’s stock valued at $4,997,000 after purchasing an additional 14,459 shares in the last quarter. 52.35% of the stock is owned by hedge funds and other institutional investors.

Campbell Soup Stock Up 2.6 %

Campbell Soup stock opened at $51.09 on Monday. Campbell Soup has a 52 week low of $37.94 and a 52 week high of $52.81. The stock has a market cap of $15.25 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 3.09 and a beta of 0.18. The company’s 50-day moving average price is $48.60 and its two-hundred day moving average price is $45.80. 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 (NASDAQ:CPB) last announced its earnings results on Thursday, August 29th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.62 by $0.01. The firm had revenue of $2.29 billion for 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 firm’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.50 earnings per share. On average, analysts expect that Campbell Soup will post 3.18 EPS for the current fiscal year.

Analyst Ratings Changes

CPB has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of Campbell Soup from $55.00 to $57.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 11th. DA Davidson boosted their target price on shares of Campbell Soup from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Barclays increased their price target on shares of Campbell Soup from $45.00 to $49.00 and gave the stock an “underweight” rating in a research report on Thursday. StockNews.com lowered Campbell Soup from a “hold” rating to a “sell” rating in a report on Wednesday, September 11th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $45.00 target price on shares of Campbell Soup in a report on Tuesday, August 27th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $48.92.

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.