Short Interest in Campbell Soup (NYSE:CPB) Decreases By 10.2%

Campbell Soup (NYSE:CPB) was the recipient of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 12,650,000 shares, a decline of 10.2% from the August 15th total of 14,080,000 shares. Based on an average daily volume of 2,610,000 shares, the days-to-cover ratio is presently 4.8 days. Currently, 6.4% of the company’s shares are short sold.

Insiders Place Their Bets

In other news, VP Stanley Polomski sold 8,000 shares of the firm’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $43.35, for a total value of $346,800.00. Following the transaction, the vice president now owns 33,162 shares of the company’s stock, valued at approximately $1,437,572.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 21.05% of the company’s stock.

Institutional Investors Weigh In On Campbell Soup

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Campbell Soup by 6.3% during the first quarter. Vanguard Group Inc. now owns 23,259,524 shares of the company’s stock worth $1,036,678,000 after acquiring an additional 1,387,605 shares in the last quarter. BlackRock Inc. increased its position in shares of Campbell Soup by 3.5% during the 2nd quarter. BlackRock Inc. now owns 18,281,509 shares of the company’s stock worth $835,648,000 after purchasing an additional 623,980 shares during the last quarter. State Street Corp raised its stake in shares of Campbell Soup by 16.8% during the 1st quarter. State Street Corp now owns 12,182,043 shares of the company’s stock worth $542,954,000 after purchasing an additional 1,749,650 shares in the last quarter. Beutel Goodman & Co Ltd. boosted its holdings in shares of Campbell Soup by 2.3% in the 2nd quarter. Beutel Goodman & Co Ltd. now owns 5,274,588 shares of the company’s stock valued at $241,101,000 after buying an additional 119,965 shares during the last quarter. Finally, Brandywine Trust Co. grew its stake in shares of Campbell Soup by 25.5% in the second quarter. Brandywine Trust Co. now owns 4,872,923 shares of the company’s stock valued at $222,741,000 after buying an additional 991,260 shares in the last quarter. 50.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

CPB has been the subject of a number of analyst reports. StockNews.com began coverage on Campbell Soup in a research note on Thursday, August 17th. They set a “hold” rating for the company. The Goldman Sachs Group decreased their target price on Campbell Soup from $44.00 to $40.00 and set a “sell” rating for the company in a research report on Tuesday, August 22nd. Piper Sandler cut their price target on shares of Campbell Soup from $52.00 to $50.00 in a research report on Monday, June 26th. 888 restated a “maintains” rating on shares of Campbell Soup in a report on Monday, June 26th. Finally, TD Cowen began coverage on shares of Campbell Soup in a report on Wednesday, September 13th. They issued a “market perform” rating and a $45.00 target price on the stock. Four analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $47.21.

Campbell Soup Stock Down 0.7 %

Shares of CPB stock traded down $0.31 on Monday, hitting $42.73. 2,686,701 shares of the stock were exchanged, compared to its average volume of 2,543,269. The company has a current ratio of 0.93, a quick ratio of 0.36 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $12.74 billion, a P/E ratio of 14.94, a price-to-earnings-growth ratio of 3.43 and a beta of 0.34. Campbell Soup has a fifty-two week low of $40.76 and a fifty-two week high of $57.78. The business has a 50-day moving average of $43.77 and a 200 day moving average of $48.90.

Campbell Soup (NYSE:CPB) last released its earnings results on Thursday, August 31st. The company reported $0.50 EPS for the quarter, meeting the consensus estimate of $0.50. The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Campbell Soup had a return on equity of 25.14% and a net margin of 9.17%. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.56 EPS. Equities analysts anticipate that Campbell Soup will post 3.06 EPS for the current year.

About Campbell Soup

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.