Citigroup reaffirmed their neutral rating on shares of Campbell Soup (NYSE:CPB) in a research report released on Wednesday, December 20th, MarketBeat reports. Citigroup currently has a $54.00 price objective on the stock, up from their previous price objective of $50.00.
Other research analysts have also issued research reports about the company. Royal Bank of Canada set a $56.00 price objective on Campbell Soup and gave the company a hold rating in a research report on Wednesday, October 25th. Piper Jaffray Companies set a $50.00 target price on Campbell Soup and gave the stock a hold rating in a report on Wednesday, October 11th. Deutsche Bank reaffirmed a hold rating and issued a $51.00 price objective (down previously from $58.00) on shares of Campbell Soup in a report on Friday, September 1st. Zacks Investment Research raised Campbell Soup from a sell rating to a hold rating in a report on Tuesday, August 29th. Finally, Goldman Sachs Group cut their price objective on Campbell Soup from $49.00 to $45.00 and set a hold rating for the company in a report on Sunday, September 3rd. Seven equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. The stock has a consensus rating of Hold and a consensus target price of $49.83.
Campbell Soup (CPB) traded down $0.07 on Wednesday, hitting $45.75. The stock had a trading volume of 1,562,200 shares, compared to its average volume of 2,650,000. The stock has a market cap of $13,750.00, a PE ratio of 16.00, a PEG ratio of 3.72 and a beta of 0.39. The company has a current ratio of 0.77, a quick ratio of 0.39 and a debt-to-equity ratio of 1.34. Campbell Soup has a 52 week low of $44.99 and a 52 week high of $64.23.
Campbell Soup (NYSE:CPB) last released its earnings results on Tuesday, November 21st. The company reported $0.92 EPS for the quarter, missing the Zacks’ consensus estimate of $0.97 by ($0.05). Campbell Soup had a net margin of 11.08% and a return on equity of 56.88%. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.17 billion. During the same quarter in the previous year, the business earned $1.00 EPS. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. sell-side analysts predict that Campbell Soup will post 2.95 EPS for the current fiscal year.
Campbell Soup declared that its Board of Directors has approved a stock buyback plan on Monday, December 18th that allows the company to repurchase outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 29th. Stockholders of record on Wednesday, January 10th will be given a $0.35 dividend. The ex-dividend date is Tuesday, January 9th. This represents a $1.40 annualized dividend and a dividend yield of 3.06%. Campbell Soup’s payout ratio is 48.95%.
In related news, Director Randall W. Larrimore sold 2,242 shares of the business’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $48.69, for a total value of $109,162.98. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Edward Carolan sold 6,500 shares of the business’s stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $48.15, for a total value of $312,975.00. Following the completion of the sale, the insider now owns 41,506 shares in the company, valued at $1,998,513.90. The disclosure for this sale can be found here. Insiders sold 15,284 shares of company stock worth $741,399 over the last 90 days. Company insiders own 37.20% of the company’s stock.
Several large investors have recently bought and sold shares of CPB. Adams Asset Advisors LLC bought a new stake in Campbell Soup during the fourth quarter worth approximately $6,503,000. AXA increased its stake in Campbell Soup by 2,043.4% during the third quarter. AXA now owns 620,342 shares of the company’s stock worth $29,044,000 after acquiring an additional 591,400 shares during the last quarter. Robinson Value Management Ltd. increased its stake in Campbell Soup by 8.0% during the third quarter. Robinson Value Management Ltd. now owns 22,073 shares of the company’s stock worth $1,033,000 after acquiring an additional 1,630 shares during the last quarter. Americafirst Capital Management LLC bought a new stake in Campbell Soup during the third quarter worth approximately $618,000. Finally, IFM Investors Pty Ltd bought a new stake in Campbell Soup during the third quarter worth approximately $290,000. Institutional investors own 46.04% of the company’s stock.
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About Campbell Soup
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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