Renaissance Technologies LLC Lowers Stock Position in Campbell Soup (NASDAQ:CPB)

Renaissance Technologies LLC trimmed its stake in Campbell Soup (NASDAQ:CPB) by 23.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 3,315,995 shares of the company’s stock after selling 1,016,700 shares during the period. Renaissance Technologies LLC owned about 1.11% of Campbell Soup worth $149,850,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in CPB. Quantbot Technologies LP acquired a new stake in Campbell Soup in the 2nd quarter valued at about $3,063,000. Sierra Summit Advisors LLC boosted its stake in Campbell Soup by 8.8% during the 2nd quarter. Sierra Summit Advisors LLC now owns 7,624 shares of the company’s stock worth $345,000 after purchasing an additional 617 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Campbell Soup by 14.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,876,253 shares of the company’s stock worth $129,971,000 after buying an additional 363,736 shares during the period. Parallel Advisors LLC lifted its position in Campbell Soup by 11.2% during the 2nd quarter. Parallel Advisors LLC now owns 8,299 shares of the company’s stock worth $375,000 after acquiring an additional 838 shares during the period. Finally, Dai ichi Life Insurance Company Ltd grew its stake in shares of Campbell Soup by 20.7% in the 2nd quarter. Dai ichi Life Insurance Company Ltd now owns 170,128 shares of the company’s stock valued at $7,688,000 after purchasing an additional 29,184 shares during the last quarter. 52.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CPB has been the subject of several analyst reports. StockNews.com cut Campbell Soup from a “hold” rating to a “sell” rating in a research note on Wednesday, September 11th. Barclays raised their target price on shares of Campbell Soup from $45.00 to $49.00 and gave the stock an “underweight” rating in a research note on Thursday. JPMorgan Chase & Co. boosted their price target on shares of Campbell Soup from $55.00 to $57.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 11th. Citigroup raised their price objective on shares of Campbell Soup from $41.00 to $42.00 and gave the company a “sell” rating in a research report on Thursday, May 23rd. Finally, DA Davidson boosted their target price on Campbell Soup from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Campbell Soup currently has an average rating of “Hold” and an average price target of $48.92.

Campbell Soup Stock Performance

Shares of CPB opened at $51.09 on Monday. Campbell Soup has a 12-month low of $37.94 and a 12-month high of $52.81. The stock has a market cap of $15.25 billion, a P/E ratio of 20.68, a PEG ratio of 3.09 and a beta of 0.18. The company has a 50-day moving average of $48.60 and a two-hundred day moving average of $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 posted its quarterly earnings data on Thursday, August 29th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. Campbell Soup had a net margin of 5.88% and a return on equity of 24.08%. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the prior year, the company posted $0.50 EPS. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. As a group, research analysts predict 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.