Sierra Summit Advisors LLC Has $345,000 Position in Campbell Soup (NASDAQ:CPB)

Sierra Summit Advisors LLC lifted its stake in Campbell Soup (NASDAQ:CPB) by 8.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,624 shares of the company’s stock after acquiring an additional 617 shares during the quarter. Sierra Summit Advisors LLC’s holdings in Campbell Soup were worth $345,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CPB. Norges Bank acquired a new position in Campbell Soup in the fourth quarter worth approximately $125,689,000. LSV Asset Management lifted its stake in Campbell Soup by 5,022.5% in the second quarter. LSV Asset Management now owns 2,438,300 shares of the company’s stock valued at $110,187,000 after acquiring an additional 2,390,700 shares during the last quarter. Van ECK Associates Corp grew its position in Campbell Soup by 16.6% in the first quarter. Van ECK Associates Corp now owns 8,548,557 shares of the company’s stock worth $379,983,000 after acquiring an additional 1,219,301 shares in the last quarter. AMF Tjanstepension AB acquired a new position in shares of Campbell Soup during the 1st quarter worth $30,128,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of Campbell Soup by 21.2% during the 1st quarter. Bank of New York Mellon Corp now owns 3,315,516 shares of the company’s stock valued at $147,375,000 after purchasing an additional 580,411 shares in the last quarter. 52.35% of the stock is currently owned by hedge funds and other institutional investors.

Campbell Soup Trading Up 2.6 %

Shares of CPB stock opened at $51.09 on Monday. Campbell Soup has a 1 year low of $37.94 and a 1 year high of $52.81. The firm’s fifty day simple moving average is $48.60 and its 200 day simple moving average is $45.80. The firm has a market capitalization of $15.25 billion, a P/E ratio of 20.68, a price-to-earnings-growth ratio of 3.09 and a beta of 0.18. 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 announced its earnings results on Thursday, August 29th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. Campbell Soup had a net margin of 5.88% and a return on equity of 24.08%. Campbell Soup’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.50 earnings per share. As a group, sell-side analysts predict that Campbell Soup will post 3.18 EPS for the current year.

Analyst Upgrades and Downgrades

CPB has been the subject of a number of recent research reports. StockNews.com cut shares of Campbell Soup from a “hold” rating to a “sell” rating in a report on Wednesday, September 11th. DA Davidson increased their price objective on Campbell Soup from $47.00 to $49.00 and gave the company a “buy” rating in a report on Monday, June 10th. JPMorgan Chase & Co. boosted their target price on Campbell Soup from $55.00 to $57.00 and gave the stock an “overweight” rating in a report on Wednesday, September 11th. Royal Bank of Canada increased their price target on Campbell Soup from $47.00 to $51.00 and gave the company a “sector perform” rating in a report on Friday. Finally, Citigroup lifted their price target 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. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $48.92.

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.