Morgan Stanley Cuts Campbell Soup (CPB) Price Target to $46.00

Campbell Soup (NYSE:CPB) had its price target reduced by analysts at Morgan Stanley from $49.00 to $46.00 in a report issued on Tuesday. The brokerage currently has an “underweight” rating on the stock. Morgan Stanley’s target price suggests a potential downside of 0.07% from the company’s current price.

CPB has been the subject of a number of other research reports. Royal Bank of Canada set a $56.00 price target on Campbell Soup and gave the company a “hold” rating in a report on Wednesday, October 25th. UBS Group reduced their price target on Campbell Soup from $46.00 to $42.00 and set a “sell” rating for the company in a report on Thursday, November 9th. Credit Suisse Group set a $41.00 price target on Campbell Soup and gave the company a “sell” rating in a report on Friday, November 24th. Piper Jaffray Companies set a $49.00 price target on Campbell Soup and gave the company a “hold” rating in a report on Tuesday, November 28th. Finally, Citigroup raised Campbell Soup from a “neutral” rating to a “buy” rating and increased their price target for the company from $45.51 to $57.00 in a report on Tuesday, January 16th. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. Campbell Soup currently has a consensus rating of “Hold” and a consensus target price of $49.92.

Shares of Campbell Soup (CPB) traded down $0.14 on Tuesday, reaching $46.03. The company had a trading volume of 553,507 shares, compared to its average volume of 2,596,176. The stock has a market capitalization of $13,879.02, a P/E ratio of 13.23, a P/E/G ratio of 3.60 and a beta of 0.32. Campbell Soup has a 1 year low of $43.50 and a 1 year high of $59.94. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.64 and a quick ratio of 0.39.

Campbell Soup (NYSE:CPB) last issued its quarterly earnings results on Friday, February 16th. The company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.19. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.16 billion. Campbell Soup had a return on equity of 54.10% and a net margin of 13.41%. Campbell Soup’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.91 earnings per share. sell-side analysts anticipate that Campbell Soup will post 2.97 earnings per share for the current year.

Campbell Soup announced that its Board of Directors has initiated a stock buyback plan on Monday, December 18th that permits the company to buyback outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

In other news, insider Edward Carolan sold 6,500 shares of the stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $48.15, for a total transaction of $312,975.00. Following the sale, the insider now directly owns 41,506 shares in the company, valued at approximately $1,998,513.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Randall W. Larrimore sold 2,242 shares of the stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $48.69, for a total value of $109,162.98. The disclosure for this sale can be found here. Insiders have sold 15,284 shares of company stock worth $741,399 in the last 90 days. 37.20% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the company. Advisor Partners LLC raised its position in shares of Campbell Soup by 22.8% during the 4th quarter. Advisor Partners LLC now owns 5,779 shares of the company’s stock worth $274,000 after purchasing an additional 1,074 shares during the period. Retirement Systems of Alabama increased its position in Campbell Soup by 1.2% in the 3rd quarter. Retirement Systems of Alabama now owns 94,101 shares of the company’s stock valued at $4,406,000 after acquiring an additional 1,125 shares during the period. Stifel Financial Corp increased its position in Campbell Soup by 6.7% in the 3rd quarter. Stifel Financial Corp now owns 17,993 shares of the company’s stock valued at $839,000 after acquiring an additional 1,133 shares during the period. CIBC Asset Management Inc increased its position in Campbell Soup by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 33,105 shares of the company’s stock valued at $1,550,000 after acquiring an additional 1,173 shares during the period. Finally, First Personal Financial Services increased its position in Campbell Soup by 44.0% in the 4th quarter. First Personal Financial Services now owns 3,856 shares of the company’s stock valued at $186,000 after acquiring an additional 1,179 shares during the period. Institutional investors and hedge funds own 49.17% 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.

Analyst Recommendations for Campbell Soup (NYSE:CPB)

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