Brandywine Managers LLC Increases Stake in Campbell Soup (CPB)
Brandywine Managers LLC grew its stake in shares of Campbell Soup (NYSE:CPB) by 51.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 5,609,014 shares of the company’s stock after acquiring an additional 1,900,000 shares during the period. Campbell Soup comprises about 90.6% of Brandywine Managers LLC’s portfolio, making the stock its largest holding. Brandywine Managers LLC’s holdings in Campbell Soup were worth $227,389,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in CPB. Third Point LLC purchased a new stake in shares of Campbell Soup in the second quarter valued at $224,997,000. Gamco Investors INC. ET AL lifted its holdings in shares of Campbell Soup by 15.9% in the second quarter. Gamco Investors INC. ET AL now owns 472,929 shares of the company’s stock valued at $19,173,000 after purchasing an additional 65,040 shares in the last quarter. Robinson Value Management Ltd. lifted its holdings in shares of Campbell Soup by 191.6% in the second quarter. Robinson Value Management Ltd. now owns 63,245 shares of the company’s stock valued at $2,564,000 after purchasing an additional 41,554 shares in the last quarter. Neuburgh Advisers LLC lifted its holdings in shares of Campbell Soup by 12.4% in the second quarter. Neuburgh Advisers LLC now owns 16,720 shares of the company’s stock valued at $678,000 after purchasing an additional 1,848 shares in the last quarter. Finally, Riverhead Capital Management LLC lifted its holdings in shares of Campbell Soup by 12.6% in the second quarter. Riverhead Capital Management LLC now owns 19,192 shares of the company’s stock valued at $778,000 after purchasing an additional 2,150 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.
In related news, Director Maria Teresa Hilado purchased 2,000 shares of the company’s stock in a transaction dated Wednesday, June 6th. The shares were acquired at an average cost of $33.22 per share, with a total value of $66,440.00. Following the completion of the purchase, the director now owns 4,330 shares of the company’s stock, valued at approximately $143,842.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 37.20% of the company’s stock.
Campbell Soup (NYSE:CPB) last posted its quarterly earnings results on Thursday, August 30th. The company reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.01. Campbell Soup had a net margin of 5.97% and a return on equity of 56.59%. The business had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the prior year, the business posted $0.52 earnings per share. Campbell Soup’s revenue for the quarter was up 33.4% compared to the same quarter last year. sell-side analysts predict that Campbell Soup will post 2.87 EPS for the current year.
A number of analysts have recently issued reports on the company. Piper Jaffray Companies set a $35.00 target price on Campbell Soup and gave the company a “sell” rating in a report on Tuesday, August 14th. JPMorgan Chase & Co. lowered Campbell Soup from a “neutral” rating to an “underweight” rating and set a $48.00 target price for the company. in a report on Friday, August 10th. UBS Group set a $30.00 target price on Campbell Soup and gave the company a “sell” rating in a report on Thursday, August 23rd. Zacks Investment Research upgraded Campbell Soup from a “sell” rating to a “hold” rating in a report on Monday. Finally, Gabelli restated a “buy” rating on shares of Campbell Soup in a report on Monday, July 16th. Ten analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. Campbell Soup has a consensus rating of “Hold” and an average target price of $40.47.
Campbell Soup Company Profile
Campbell Soup Co engages in manufacturing and marketing of convenience food products such as soup, simple meals, snacks, and healthy beverages. It operates through the following segments: 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 businesses in the U.S., Canada and Latin America.
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