Today, First Mercantile Trust Co. reduces its investment in Campbell Soup Co. (CPB)

Today, First Mercantile Trust Co. reduces its investment in Campbell Soup Co. (CPB)

First Mercantile Trust Co. lowered its stake in Campbell Soup Co. (NYSE:CPB) by 13.4% during the third quarter, Holdings Channel reports. The firm owned 12,900 shares of the company’s stock after selling 2,000 shares during the period. First Mercantile Trust Co.’s holdings in Campbell Soup were worth $702,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CPB. Van ECK Associates Corp boosted its position in shares of Campbell Soup by 38.6% in the second quarter. Van ECK Associates Corp now owns 1,740 shares of the company’s stock valued at $116,000 after buying an additional 485 shares in the last quarter. Checchi Capital Advisers LLC boosted its position in shares of Campbell Soup by 9.8% in the second quarter. Checchi Capital Advisers LLC now owns 1,798 shares of the company’s stock valued at $120,000 after buying an additional 161 shares in the last quarter. Mizuho Asset Management Co. Ltd. boosted its position in shares of Campbell Soup by 69.7% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,388 shares of the company’s stock valued at $159,000 after buying an additional 981 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in shares of Campbell Soup by 38.1% in the second quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,900 shares of the company’s stock valued at $193,000 after buying an additional 800 shares in the last quarter. Finally, Mercer Capital Advisers Inc. boosted its position in shares of Campbell Soup by 1.8% in the second quarter. Mercer Capital Advisers Inc. now owns 2,958 shares of the company’s stock valued at $197,000 after buying an additional 53 shares in the last quarter. Hedge funds and other institutional investors own 42.90% of the company’s stock.

Campbell Soup Co. (NYSE:CPB) traded up 1.23% during trading on Friday, reaching $57.52. 1,217,654 shares of the company traded hands. The firm has a market capitalization of $17.71 billion, a price-to-earnings ratio of 31.78 and a beta of 0.40. Campbell Soup Co. has a 12-month low of $50.54 and a 12-month high of $67.89. The firm’s 50 day moving average price is $54.20 and its 200 day moving average price is $59.33.

Campbell Soup (NYSE:CPB) last posted its earnings results on Tuesday, November 22nd. The company reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.05. Campbell Soup had a net margin of 8.30% and a return on equity of 58.62%. The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the prior year, the company posted $0.95 EPS. The business’s revenue for the quarter was up .0% compared to the same quarter last year. Equities research analysts expect that Campbell Soup Co. will post $3.06 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, January 30th. Stockholders of record on Wednesday, January 11th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend is Monday, January 9th. Campbell Soup’s payout ratio is 66.04%.

A number of brokerages recently issued reports on CPB. TheStreet cut shares of Campbell Soup from a “buy” rating to a “hold” rating in a research note on Thursday, September 1st. Zacks Investment Research raised shares of Campbell Soup from a “sell” rating to a “hold” rating in a research note on Wednesday, November 16th. decreased their price objective on shares of Campbell Soup from $64.00 to $59.00 and set a “market perform” rating on the stock in a research note on Monday, September 12th. Royal Bank Of Canada decreased their price objective on shares of Campbell Soup from $62.00 to $58.00 and set a “sector perform” rating on the stock in a research note on Friday, September 2nd. Finally, Argus cut shares of Campbell Soup from a “buy” rating to a “hold” rating and lifted their price objective for the company from $47.77 to $55.38 in a research note on Monday, September 19th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company’s stock. Campbell Soup currently has an average rating of “Hold” and an average price target of $59.50.

In other news, insider Edward Carolan sold 2,400 shares of the stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $54.35, for a total value of $130,440.00. Following the transaction, the insider now owns 49,038 shares of the company’s stock, valued at approximately $2,665,215.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP William J. O’shea sold 13,000 shares of the stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $57.74, for a total transaction of $750,620.00. Following the completion of the transaction, the vice president now directly owns 28,952 shares in the company, valued at approximately $1,671,688.48. The disclosure for this sale can be found here. 37.30% of the stock is currently owned by insiders.

Campbell Soup Company 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.

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