First Mercantile Trust Co Lowers stake in Campbell Soup Company (CPB)

Campbell Soup Company (CPB) : First Mercantile Trust Co reduced its stake in Campbell Soup Company by 13.42% during the most recent quarter end. The investment management company now holds a total of 12,900 shares of Campbell Soup Company which is valued at $694,923 after selling 2,000 shares in Campbell Soup Company , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Campbell Soup Company makes up approximately 0.09% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Central Bank Trust Co boosted its stake in CPB in the latest quarter, The investment management firm added 357 additional shares and now holds a total of 5,397 shares of Campbell Soup Company which is valued at $290,736. Campbell Soup Company makes up approx 0.08% of Central Bank Trust Co’s portfolio.Chevy Chase Trust Holdings boosted its stake in CPB in the latest quarter, The investment management firm added 9,088 additional shares and now holds a total of 165,098 shares of Campbell Soup Company which is valued at $8,872,367. Campbell Soup Company makes up approx 0.05% of Chevy Chase Trust Holdings’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in CPB by selling 11,555 shares or 4.57% in the most recent quarter. The Hedge Fund company now holds 241,422 shares of CPB which is valued at $12,974,018. Campbell Soup Company makes up approx 0.05% of Bnp Paribas Arbitrage Sa’s portfolio.Washington Trust Bank boosted its stake in CPB in the latest quarter, The investment management firm added 225 additional shares and now holds a total of 425 shares of Campbell Soup Company which is valued at $22,840. Campbell Soup Company makes up approx 0.01% of Washington Trust Bank’s portfolio.

Campbell Soup Company opened for trading at $53.58 and hit $53.875 on the upside on Friday, eventually ending the session at $53.87, with a gain of 0.60% or 0.32 points. The heightened volatility saw the trading volume jump to 19,87,718 shares. Company has a market cap of $16,585 M.

On the company’s financial health, Campbell Soup Company reported $0.46 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Sep 1, 2016. Analyst had a consensus of $0.50. The company had revenue of $1687.00 million for the quarter, compared to analysts expectations of $1694.54 million. The company’s revenue was down -.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.43 EPS.

Many Wall Street Analysts have commented on Campbell Soup Company. Campbell Soup Company was Downgraded by Argus to ” Hold” on Sep 19, 2016. Shares were Reiterated by UBS on Sep 2, 2016 to “Sell” and Lowered the Price Target to $ 51 from a previous price target of $52 .Shares were Reiterated by RBC Capital Mkts on Sep 2, 2016 to “Sector Perform” and Lowered the Price Target to $ 58 from a previous price target of $62 .

Campbell Soup Company manufactures and markets food products. The Company’s segments include U.S. Simple Meals; Global Baking and Snacking; International Simple Meals and Beverages; U.S. Beverages and Bolthouse and Foodservice. Its U.S. Simple Meals segment includes various products such as Campbell’s condensed and ready-to-serve soups; Prego pasta sauces and Pace Mexican sauces. Its Global Baking and Snacking segment includes Pepperidge Farm cookies crackers bakery and frozen products in the United States retail. Its International Simple Meals and Beverages segment includes retail business in Canada. Its U.S. Beverages segment includes various products such as V8 juices and beverages and Campbell’s tomato juice. Its Bolthouse and Foodservice segment comprises the Bolthouse Farms carrot products operating segment including fresh carrots juice concentrate and fiber. Its brands include Arnott’s Bolthouse Farms Campbell’s Garden Fresh Gourmet Goldfish Kjeldsens and Pace.

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