Seven Eight Capital LP Takes Position in Campbell Soup (NASDAQ:CPB)

Seven Eight Capital LP purchased a new position in shares of Campbell Soup (NASDAQ:CPB) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 75,221 shares of the company’s stock, valued at approximately $3,399,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Campbell Soup in the 4th quarter valued at $125,689,000. LSV Asset Management boosted its stake in shares of Campbell Soup by 5,022.5% in the 2nd quarter. LSV Asset Management now owns 2,438,300 shares of the company’s stock valued at $110,187,000 after purchasing an additional 2,390,700 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Campbell Soup by 16.6% during the 1st quarter. Van ECK Associates Corp now owns 8,548,557 shares of the company’s stock valued at $379,983,000 after purchasing an additional 1,219,301 shares during the last quarter. Wulff Hansen & CO. increased its position in Campbell Soup by 4,419.0% during the 2nd quarter. Wulff Hansen & CO. now owns 732,530 shares of the company’s stock worth $33,103,000 after purchasing an additional 716,320 shares in the last quarter. Finally, AMF Tjanstepension AB acquired a new stake in Campbell Soup in the first quarter valued at approximately $30,128,000. Institutional investors own 52.35% of the company’s stock.

Wall Street Analysts Forecast Growth

CPB has been the topic of several recent research reports. Citigroup raised their price objective on Campbell Soup from $41.00 to $42.00 and gave the company a “sell” rating in a report on Thursday, May 23rd. Wells Fargo & Company upped their price objective on Campbell Soup from $49.00 to $51.00 and gave the company an “equal weight” rating in a research note 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 report on Monday, June 10th. Stifel Nicolaus reaffirmed a “hold” rating and set a $45.00 price target on shares of Campbell Soup in a research note on Tuesday, August 27th. Finally, Royal Bank of Canada increased their price objective on Campbell Soup from $47.00 to $51.00 and gave the company a “sector perform” rating in a report on Friday, September 13th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $48.92.

Campbell Soup Trading Down 0.1 %

NASDAQ:CPB opened at $51.52 on Wednesday. The company has a market cap of $15.38 billion, a PE ratio of 20.86, a PEG ratio of 3.09 and a beta of 0.18. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.61 and a quick ratio of 0.24. Campbell Soup has a one year low of $37.94 and a one year high of $52.81. The firm has a 50-day moving average of $48.85 and a 200-day moving average of $45.93.

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, beating the consensus estimate of $0.62 by $0.01. The company 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%. Campbell Soup’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.50 earnings per share. As a group, equities research analysts expect that Campbell Soup will post 3.18 EPS for the current fiscal year.

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.