Campbell Soup (NYSE:CPB) shares were down 2.9% during mid-day trading on Thursday . The stock traded as low as $42.82 and last traded at $44.13. Approximately 1,961,045 shares changed hands during mid-day trading, a decline of 30% from the average daily volume of 2,797,498 shares. The stock had previously closed at $42.90.
Several research analysts have recently issued reports on CPB shares. Royal Bank of Canada set a $56.00 target price on shares of Campbell Soup and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Credit Suisse Group set a $41.00 target price on shares of Campbell Soup and gave the stock a “sell” rating in a research note on Friday, November 24th. Citigroup upgraded shares of Campbell Soup from a “neutral” rating to a “buy” rating and upped their target price for the stock from $45.51 to $57.00 in a research note on Tuesday, January 16th. JPMorgan Chase & Co. reiterated a “hold” rating and issued a $50.00 target price on shares of Campbell Soup in a research note on Friday, December 15th. Finally, UBS Group dropped their target price on shares of Campbell Soup from $46.00 to $42.00 and set a “sell” rating on the stock in a research note on Thursday, November 9th. Six investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. Campbell Soup currently has a consensus rating of “Hold” and a consensus target price of $49.36.
The firm has a market capitalization of $13,270.00, a PE ratio of 14.36, a price-to-earnings-growth ratio of 3.51 and a beta of 0.32. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.39 and a current ratio of 0.64.
Campbell Soup (NYSE:CPB) last issued its quarterly earnings data on Friday, February 16th. The company reported $1.00 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.19. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.16 billion. Campbell Soup had a net margin of 13.41% and a return on equity of 54.10%. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.91 earnings per share. research analysts forecast that Campbell Soup will post 3.05 earnings per share for the current year.
Campbell Soup declared that its Board of Directors has authorized a share buyback plan on Monday, December 18th that authorizes the company to buyback outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.
In other Campbell Soup news, SVP Carlos Barroso sold 4,300 shares of the company’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $48.86, for a total transaction of $210,098.00. Following the completion of the sale, the senior vice president now directly owns 29,119 shares of the company’s stock, valued at $1,422,754.34. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Randall W. Larrimore sold 2,242 shares of the company’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $48.69, for a total transaction of $109,162.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,284 shares of company stock worth $741,399. 37.20% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the business. First Personal Financial Services increased its holdings in Campbell Soup by 180.9% during the third quarter. First Personal Financial Services now owns 2,677 shares of the company’s stock valued at $125,000 after buying an additional 1,724 shares during the last quarter. Cordasco Financial Network purchased a new stake in Campbell Soup during the fourth quarter valued at approximately $144,000. Whittier Trust Co. of Nevada Inc. increased its holdings in Campbell Soup by 199.8% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 2,998 shares of the company’s stock valued at $144,000 after buying an additional 1,998 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Campbell Soup during the third quarter valued at approximately $175,000. Finally, Confluence Wealth Management LLC purchased a new stake in Campbell Soup during the fourth quarter valued at approximately $207,000. 49.17% of the stock is owned by institutional investors and hedge funds.
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Campbell Soup Company Profile
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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