MetLife Investment Advisors LLC Trims Position in Campbell Soup (CPB)
MetLife Investment Advisors LLC decreased its position in shares of Campbell Soup (NYSE:CPB) by 2.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,639 shares of the company’s stock after selling 1,258 shares during the period. MetLife Investment Advisors LLC’s holdings in Campbell Soup were worth $2,296,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rational Advisors LLC acquired a new stake in Campbell Soup during the first quarter valued at $463,000. Standard Life Aberdeen plc raised its holdings in Campbell Soup by 0.9% during the second quarter. Standard Life Aberdeen plc now owns 308,175 shares of the company’s stock valued at $12,498,000 after buying an additional 2,697 shares in the last quarter. Valeo Financial Advisors LLC bought a new position in Campbell Soup during the second quarter valued at about $328,000. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Campbell Soup by 1.2% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 619,214 shares of the company’s stock valued at $25,103,000 after buying an additional 7,583 shares in the last quarter. Finally, Swiss National Bank raised its holdings in Campbell Soup by 1.7% during the second quarter. Swiss National Bank now owns 1,141,953 shares of the company’s stock valued at $46,295,000 after buying an additional 19,600 shares in the last quarter. 54.96% of the stock is owned by hedge funds and other institutional investors.
Campbell Soup stock opened at $40.05 on Monday. The company has a debt-to-equity ratio of 5.83, a quick ratio of 0.37 and a current ratio of 0.64. The stock has a market capitalization of $12.04 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 2.75 and a beta of 0.20. Campbell Soup has a 52 week low of $32.63 and a 52 week high of $51.07.
CPB has been the topic of several recent research reports. Deutsche Bank cut their target price on Campbell Soup from $40.00 to $36.00 and set a “hold” rating on the stock in a report on Friday, August 31st. ValuEngine upgraded Campbell Soup from a “strong sell” rating to a “sell” rating in a report on Friday, September 7th. Wells Fargo & Co set a $42.00 target price on Campbell Soup and gave the company a “hold” rating in a report on Monday, August 20th. Credit Suisse Group set a $36.00 target price on Campbell Soup and gave the company a “sell” rating in a report on Friday, August 31st. Finally, Royal Bank of Canada raised their target price on Campbell Soup to $43.00 and gave the company a “sector perform” rating in a report on Thursday, August 23rd. Twelve research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Campbell Soup presently has an average rating of “Sell” and an average target price of $40.07.
Campbell Soup Company Profile
Campbell Soup Company, together with its subsidiaries, manufactures and markets branded food and beverage products. It operates through three segments: Americas Simple Meals and Beverages, Global Biscuits and Snacks, and Campbell Fresh. The Americas Simple Meals and Beverages segment engages in the retail and food service of Campbell's condensed and ready-to-serve soups; Swanson broth and stocks; Prego pasta sauces; Pace Mexican sauces; Campbell's gravies, pastas, beans, and dinner sauces; Swanson canned poultry products; Plum food and snack products; V8 juices and beverages; and Campbell's tomato juices in the United States, Canada, and Latin America.
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