JPMorgan Chase & Co. upgraded shares of Campbell Soup (NYSE:CPB) from an underweight rating to a neutral rating in a research note published on Tuesday morning, 24/7 WallStreet reports. JPMorgan Chase & Co. currently has $41.00 target price on the stock, up from their prior target price of $40.00. The analysts noted that the move was a valuation call.
Several other research analysts have also issued reports on CPB. Evercore ISI initiated coverage on Campbell Soup in a research report on Tuesday, June 11th. They issued an in-line rating and a $43.00 price target on the stock. Bank of America restated an underperform rating and issued a $32.00 price target on shares of Campbell Soup in a research report on Friday, June 14th. Wells Fargo & Co raised their price target on Campbell Soup from $38.00 to $41.00 and gave the stock a market perform rating in a research report on Thursday, June 6th. UBS Group set a $36.00 price target on Campbell Soup and gave the stock a sell rating in a research report on Thursday, June 6th. Finally, Barclays restated a sell rating and issued a $43.00 price target on shares of Campbell Soup in a research report on Sunday, June 16th. Six equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The company presently has an average rating of Hold and a consensus price target of $39.40.
NYSE:CPB opened at $42.68 on Tuesday. Campbell Soup has a 12-month low of $32.03 and a 12-month high of $43.84. The company has a quick ratio of 0.36, a current ratio of 0.62 and a debt-to-equity ratio of 6.07. The firm has a market capitalization of $13.03 billion, a P/E ratio of 18.26, a P/E/G ratio of 3.34 and a beta of 0.51. The stock’s fifty day simple moving average is $41.69 and its 200-day simple moving average is $38.92.
Campbell Soup (NYSE:CPB) last posted its quarterly earnings results on Wednesday, June 5th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.09. Campbell Soup had a return on equity of 54.23% and a net margin of 3.19%. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the company earned $0.70 EPS. The firm’s revenue was up 16.0% on a year-over-year basis. As a group, equities research analysts expect that Campbell Soup will post 2.55 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 29th. Shareholders of record on Friday, July 12th were issued a dividend of $0.35 per share. The ex-dividend date was Thursday, July 11th. This represents a $1.40 annualized dividend and a yield of 3.28%. Campbell Soup’s dividend payout ratio is presently 48.78%.
In other Campbell Soup news, Director Randall W. Larrimore sold 3,400 shares of Campbell Soup stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $41.36, for a total transaction of $140,624.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Robert Furbee sold 6,000 shares of Campbell Soup stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $40.10, for a total value of $240,600.00. Following the transaction, the insider now owns 18,015 shares in the company, valued at $722,401.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,132 shares of company stock worth $780,333. Corporate insiders own 37.20% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Roble Belko & Company Inc bought a new position in Campbell Soup during the first quarter worth about $27,000. Citizens Financial Group Inc RI acquired a new stake in shares of Campbell Soup in the 2nd quarter valued at about $28,000. Creative Financial Designs Inc. ADV acquired a new stake in shares of Campbell Soup in the 1st quarter valued at about $31,000. Meeder Asset Management Inc. raised its stake in shares of Campbell Soup by 204.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 783 shares of the company’s stock valued at $31,000 after purchasing an additional 526 shares during the period. Finally, CWM LLC raised its stake in shares of Campbell Soup by 319.5% in the 1st quarter. CWM LLC now owns 839 shares of the company’s stock valued at $32,000 after purchasing an additional 639 shares during the period. Hedge funds and other institutional investors own 51.25% of the company’s stock.
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; Campbell's tomato juices; and Pacific broth, soups, non-dairy beverages, and other simple meals.
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