Campbell Soup Company (NYSE:CPB)‘s stock had its “neutral” rating reissued by stock analysts at J P Morgan Chase & Co in a research report issued on Wednesday. They presently have a $55.00 target price on the stock, down from their prior target price of $60.00. J P Morgan Chase & Co’s target price would indicate a potential upside of 4.01% from the company’s current price.
Other research analysts also recently issued research reports about the company. Sanford C. Bernstein downgraded Campbell Soup Company from a “market perform” rating to an “underperform” rating and set a $54.00 price objective for the company. in a research note on Tuesday, March 21st. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $58.00 price objective (down previously from $62.50) on shares of Campbell Soup Company in a research note on Tuesday, May 23rd. Credit Suisse Group reaffirmed a “sell” rating on shares of Campbell Soup Company in a research note on Wednesday, May 24th. Piper Jaffray Companies began coverage on Campbell Soup Company in a research note on Wednesday, May 24th. They issued a “neutral” rating and a $59.00 price objective for the company. Finally, BidaskClub downgraded Campbell Soup Company from a “sell” rating to a “strong sell” rating in a research note on Saturday. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has assigned a buy rating to the company. Campbell Soup Company currently has a consensus rating of “Hold” and an average target price of $59.57.
Shares of Campbell Soup Company (NYSE:CPB) traded up 0.21% during trading on Wednesday, hitting $52.99. 108,915 shares of the stock were exchanged. Campbell Soup Company has a 1-year low of $52.58 and a 1-year high of $67.89. The firm’s 50-day moving average is $57.18 and its 200 day moving average is $59.00. The company has a market cap of $16.06 billion, a P/E ratio of 33.45 and a beta of 0.35.
Campbell Soup Company (NYSE:CPB) last released its quarterly earnings data on Friday, May 19th. The company reported $0.59 EPS for the quarter, missing the Zacks’ consensus estimate of $0.64 by $0.05. Campbell Soup Company had a return on equity of 59.83% and a net margin of 6.17%. The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period last year, the firm earned $0.65 earnings per share. The company’s revenue for the quarter was down .9% compared to the same quarter last year. Equities analysts forecast that Campbell Soup Company will post $3.05 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Thursday, July 13th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.65%. Campbell Soup Company’s payout ratio is presently 88.05%.
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In related news, Director Bennett Dorrance bought 915,766 shares of Campbell Soup Company stock in a transaction that occurred on Thursday, March 30th. The shares were acquired at an average cost of $57.34 per share, for a total transaction of $52,510,022.44. Following the completion of the acquisition, the director now directly owns 24,978 shares of the company’s stock, valued at approximately $1,432,238.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 37.30% of the company’s stock.
A number of hedge funds have recently made changes to their positions in CPB. BlackRock Inc. boosted its stake in shares of Campbell Soup Company by 2,522.6% in the first quarter. BlackRock Inc. now owns 14,676,936 shares of the company’s stock valued at $840,105,000 after buying an additional 14,117,312 shares during the last quarter. Waldron LP boosted its stake in shares of Campbell Soup Company by 9,981.3% in the first quarter. Waldron LP now owns 3,730,196 shares of the company’s stock valued at $225,418,000 after buying an additional 3,693,195 shares during the last quarter. Norges Bank bought a new stake in shares of Campbell Soup Company during the fourth quarter valued at approximately $115,630,000. Schroder Investment Management Group boosted its stake in shares of Campbell Soup Company by 97.2% in the first quarter. Schroder Investment Management Group now owns 2,917,189 shares of the company’s stock valued at $166,601,000 after buying an additional 1,438,025 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of Campbell Soup Company by 33.3% in the first quarter. Alliancebernstein L.P. now owns 3,333,547 shares of the company’s stock valued at $190,812,000 after buying an additional 833,687 shares during the last quarter. Institutional investors and hedge funds own 43.93% of the company’s stock.
About Campbell Soup Company
Campbell Soup Company is a food company, which manufactures and markets food products. The Company’s segments include Americas Simple Meals and Beverages; Global Biscuits and Snacks, and Campbell Fresh. The Americas Simple Meals and Beverages segment includes the retail and food service channel businesses.
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