Rodgers Brothers Inc. cut its stake in shares of Campbell Soup (NYSE:CPB) by 12.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,846 shares of the company’s stock after selling 5,697 shares during the quarter. Rodgers Brothers Inc.’s holdings in Campbell Soup were worth $1,965,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in CPB. Cordasco Financial Network bought a new stake in shares of Campbell Soup during the 4th quarter valued at approximately $144,000. Whittier Trust Co. of Nevada Inc. boosted its position in Campbell Soup by 199.8% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 2,998 shares of the company’s stock worth $144,000 after buying an additional 1,998 shares during the period. First Personal Financial Services boosted its position in Campbell Soup by 44.0% during the 4th quarter. First Personal Financial Services now owns 3,856 shares of the company’s stock worth $186,000 after buying an additional 1,179 shares during the period. Confluence Wealth Management LLC acquired a new stake in Campbell Soup during the 4th quarter worth approximately $207,000. Finally, Cypress Wealth Services LLC acquired a new stake in Campbell Soup during the 4th quarter worth approximately $208,000. 50.21% of the stock is currently owned by institutional investors.
Several research firms recently commented on CPB. Piper Jaffray Companies downgraded shares of Campbell Soup from a “neutral” rating to an “underweight” rating and set a $59.00 target price on the stock. in a research report on Wednesday, February 28th. Morgan Stanley cut their target price on shares of Campbell Soup from $49.00 to $46.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 20th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $48.00 target price (down from $50.00) on shares of Campbell Soup in a research report on Tuesday, February 20th. Wolfe Research began coverage on shares of Campbell Soup in a research report on Friday, January 26th. They set a “market perform” rating on the stock. Finally, Zacks Investment Research upgraded shares of Campbell Soup from a “sell” rating to a “hold” rating in a research report on Tuesday, January 23rd. Seven investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. Campbell Soup has an average rating of “Hold” and a consensus target price of $50.27.
Campbell Soup (NYSE:CPB) last issued its quarterly earnings results on Friday, February 16th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.19. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.16 billion. Campbell Soup had a net margin of 13.41% and a return on equity of 54.10%. The company’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.91 EPS. equities research analysts forecast that Campbell Soup will post 3.1 earnings per share for the current fiscal year.
Campbell Soup announced that its board has authorized a stock repurchase plan on Monday, December 18th that authorizes the company to repurchase shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
In other news, insider Edward Carolan sold 6,500 shares of Campbell Soup stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $48.15, for a total value of $312,975.00. Following the completion of the sale, the insider now owns 41,506 shares in the company, valued at approximately $1,998,513.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Randall W. Larrimore sold 2,242 shares of Campbell Soup stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $48.69, for a total transaction of $109,162.98. The disclosure for this sale can be found here. Insiders sold a total of 15,284 shares of company stock worth $741,399 in the last 90 days. Corporate insiders own 37.20% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “Rodgers Brothers Inc. Decreases Position in Campbell Soup (CPB)” was originally published by American Banking News and is the sole property of of American Banking News. If you are reading this story on another website, it was illegally stolen and reposted in violation of United States and international copyright law. The correct version of this story can be accessed at https://www.americanbankingnews.com/2018/03/14/rodgers-brothers-inc-decreases-position-in-campbell-soup-cpb.html.
Campbell Soup Profile
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.
Receive News & Ratings for Campbell Soup Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Campbell Soup and related companies with MarketBeat.com's FREE daily email newsletter.