Wolfe Research Lowers Campbell Soup (CPB) to Underperform

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Campbell Soup (NYSE:CPB) was downgraded by investment analysts at Wolfe Research from a “peer perform” rating to an “underperform” rating in a research report issued on Wednesday, MarketBeat.com reports.

Other research analysts have also issued research reports about the company. Gabelli reiterated a “buy” rating on shares of Campbell Soup in a report on Monday, July 16th. TheStreet lowered Campbell Soup from a “b-” rating to a “c” rating in a report on Friday, May 18th. Zacks Investment Research lowered shares of Campbell Soup from a “buy” rating to a “hold” rating in a report on Wednesday, May 16th. Credit Suisse Group set a $38.00 price objective on shares of Campbell Soup and gave the company a “hold” rating in a report on Tuesday, May 15th. Finally, Stifel Nicolaus reduced their price objective on shares of Campbell Soup from $44.00 to $35.00 and set a “hold” rating on the stock in a report on Monday, May 21st. Twelve equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Sell” and a consensus target price of $40.07.

Shares of NYSE CPB traded up $0.51 during trading on Wednesday, hitting $40.20. 62,271 shares of the company were exchanged, compared to its average volume of 4,091,032. Campbell Soup has a 12-month low of $32.63 and a 12-month high of $51.07. The company has a quick ratio of 0.37, a current ratio of 0.64 and a debt-to-equity ratio of 5.83. The firm has a market cap of $11.86 billion, a PE ratio of 14.00, a P/E/G ratio of 2.71 and a beta of 0.20.

Campbell Soup (NYSE:CPB) last posted its quarterly earnings results on Thursday, August 30th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.24 by $0.01. Campbell Soup had a return on equity of 53.88% and a net margin of 3.01%. The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the previous year, the firm earned $0.52 EPS. The company’s quarterly revenue was up 33.4% compared to the same quarter last year. research analysts expect that Campbell Soup will post 2.47 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. LFA Lugano Financial Advisors SA acquired a new position in Campbell Soup in the 2nd quarter valued at about $175,000. City Holding Co. acquired a new position in Campbell Soup in the 2nd quarter valued at about $880,000. Andra AP fonden acquired a new position in Campbell Soup in the 2nd quarter valued at about $11,505,000. California Public Employees Retirement System grew its position in Campbell Soup by 32.5% in the 2nd quarter. California Public Employees Retirement System now owns 978,716 shares of the company’s stock valued at $39,677,000 after acquiring an additional 239,800 shares in the last quarter. Finally, Glenmede Trust Co. NA grew its position in Campbell Soup by 267.7% in the 2nd quarter. Glenmede Trust Co. NA now owns 1,190,827 shares of the company’s stock valued at $48,277,000 after acquiring an additional 867,002 shares in the last quarter. 54.98% of the stock is owned by institutional investors.

About Campbell Soup

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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Analyst Recommendations for Campbell Soup (NYSE:CPB)

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