Published: Fri, May 19, 2017
Economy | By Annette Adams

Campbell Soup misses third-quarter expectations

Campbell Soup misses third-quarter expectations

A number of other hedge funds also recently added to or reduced their stakes in the company.

In the quarter ending July 2016, Campbell Soup Company delivered an even larger earnings beat. Vicus Capital now owns 3,707 shares of the company's stock valued at $203,000 after buying an additional 12 shares during the last quarter.

Net earnings attributable to the company fell to US$176m from $185m a year earlier. Whittier Trust Co. now owns 3,469 shares of the company's stock worth $198,000 after buying an additional 94 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. JP Morgan upgraded Campbell Soup Company (NYSE:CPB) on Tuesday, January 19 to "Overweight" rating.

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Campbell Soup Company (NYSE:CPB) by 60.5% during the first quarter, according to its most recent disclosure with the SEC. Shares for $52.51M were bought by DORRANCE BENNETT. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new position in Campbell Soup Company during the third quarter worth $381,000. Brandywine owns 36.86% invested in Campbell Soup Company (NYSE:CPB) for 895,512 shares. The current share price indicates that stock is -14.42% away from its one year high and is moving 9.58% ahead of its 52-week low. The company has a 50 day moving average of $57.12 and a 200-day moving average of $58.62.

Campbell Soup Company (NYSE:CPB) last posted its quarterly earnings results on Friday, February 17th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of $0.64 by $0.05.

Douglass Winthrop Advisors Llc increased Campbell Soup Co Com (CPB) stake by 105.8% reported in 2016Q4 SEC filing. The business's quarterly revenue was down.9% compared to the same quarter previous year. During the same quarter past year, the company posted $0.65 EPS.

Morrison said the company was adjusting its guidance for the fiscal year, lowering its sales outlook by 1 percentage point, to -1 to 0 percent.

The firm also recently declared a quarterly dividend, which was paid on Monday, May 1st. Strs Ohio invested in 0.01% or 33,749 shares.

Campbell ended the quarter with cash and cash equivalents of $1,790 million, long-term debt of $2,270 million and total shareholders' equity of $1,490 million. The ex-dividend date was Monday, April 10th. RBC Capital Markets maintained Campbell Soup Company (NYSE:CPB) rating on Thursday, February 18.

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Several research analysts have recently issued reports on the company.

The stock dipped $2.94, or 5.2 percent, to $54 before the start of regular trading.

Campbell Soup Company (NYSE:CPB) traded down 2.25% during mid-day trading on Friday, reaching $55.66. Stifel Nicolaus upped their price objective on Campbell Soup Company from $56.00 to $62.00 and gave the company a "hold" rating in a research note on Monday, January 23rd.

02/17/2016 - Campbell Soup Company had its "neutral" rating reiterated by analysts at Bank of America Merrill Lynch. They issued a "hold" rating and a $65.00 price objective on the stock.

Among 6 analysts covering Atlas Copco AB (OTCMKTS:ATLKY), 3 have Buy rating, 1 Sell and 2 Hold. Deutsche Bank has "Hold" rating and $61 target. The rating was downgraded by Bernstein to "Underperform" on Tuesday, March 21. Pinnacle Associate Ltd owns 7,552 shares. The company noted that its broth business has been pressured by private-label alternatives, which have grown market share in the overall soup category.

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