Campbell Soup (NYSE:CPB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm currently has a $48.00 price objective on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 16.31% from the company’s previous close.
According to Zacks, “Campbell is progressing well with its cost savings plan as it raised the annualized savings target to $500 million, which is expected to be achieved by the end of fiscal 2020. Further, the company is making acquisitions to enhance its brand portfolio and accelerate growth. Recently, it completed the buyout of Snyder’s-Lance, Inc., which is likely to fortify Campbell's snacks portfolio. Further, the company delivered earnings beat in second-quarter fiscal 2018 after three straight misses, while sales turned positive after lagging estimates in the preceding four quarters. However, persistent challenges in the U.S. soup category and Campbell Fresh division led the stock to underperform the industry in the past year. Also, margins remain pressurized owing to higher cost inflation, escalated supply chain expenses and adverse mix, and are likely to decline in fiscal 2018.”
Several other analysts have also recently commented on CPB. Citigroup reiterated a “neutral” rating and issued a $54.00 price objective (up previously from $50.00) on shares of Campbell Soup in a research note on Wednesday, December 20th. Wolfe Research initiated coverage on shares of Campbell Soup in a research note on Friday, January 26th. They issued a “market perform” rating for the company. JPMorgan Chase reiterated an “overweight” rating and issued a $48.00 price objective (down previously from $50.00) on shares of Campbell Soup in a research note on Tuesday, February 20th. Morgan Stanley reduced their price objective on shares of Campbell Soup from $49.00 to $46.00 and set an “underweight” rating for the company in a research note on Tuesday, February 20th. Finally, Piper Jaffray cut shares of Campbell Soup from a “neutral” rating to an “underweight” rating and set a $59.00 price objective for the company. in a research note on Wednesday, February 28th. Eight equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $48.00.
CPB stock opened at $41.27 on Wednesday. Campbell Soup has a one year low of $40.98 and a one year high of $59.14. The firm has a market capitalization of $12,784.82, a PE ratio of 13.58, a PEG ratio of 2.43 and a beta of 0.32. The company has a quick ratio of 0.35, a current ratio of 0.64 and a debt-to-equity ratio of 1.15.
Campbell Soup (NYSE:CPB) last announced its quarterly earnings data on Friday, February 16th. The company reported $1.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.19. Campbell Soup had a net margin of 13.41% and a return on equity of 54.10%. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter last year, the business earned $0.91 earnings per share. The business’s revenue for the quarter was up .4% compared to the same quarter last year. research analysts expect that Campbell Soup will post 3.1 EPS for the current year.
In other Campbell Soup news, insider Luca Mignini bought 4,400 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was purchased at an average cost of $45.53 per share, for a total transaction of $200,332.00. Following the acquisition, the insider now owns 87,814 shares of the company’s stock, valued at approximately $3,998,171.42. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 37.20% of the company’s stock.
Large investors have recently bought and sold shares of the business. Whittier Trust Co. of Nevada Inc. increased its holdings in Campbell Soup by 199.8% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 2,998 shares of the company’s stock valued at $144,000 after acquiring an additional 1,998 shares in the last quarter. Cordasco Financial Network purchased a new position in Campbell Soup during the 4th quarter valued at about $144,000. First Personal Financial Services increased its holdings in Campbell Soup by 44.0% during 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 in the last quarter. Confluence Wealth Management LLC purchased a new position in Campbell Soup during the 4th quarter valued at about $207,000. Finally, Cypress Wealth Services LLC purchased a new stake in shares of Campbell Soup during the fourth quarter worth about $208,000. Hedge funds and other institutional investors own 50.21% of the company’s stock.
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Campbell Soup Company Profile
Campbell Soup Company, together with its subsidiaries, manufactures and markets 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; Plum food and snacks; V8 juices and beverages; and Campbell's tomato juices.
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