By otakuyassine3@gmail.com 
JPMorgan Chase & Co. downgraded shares of Campbell Soup (NASDAQ:CPB – Free Report) from an overweight rating to a neutral rating in a research report sent to investors on Thursday, MarketBeat reports. JPMorgan Chase & Co. currently has $37.00 price objective on the stock, down from their previous price objective of $48.00.
Several other analysts have also recently weighed in on CPB. Wells Fargo & Company lowered their price target on Campbell Soup from $45.00 to $43.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Jefferies Financial Group lowered their price target on Campbell Soup from $42.00 to $40.00 and set a “hold” rating on the stock in a report on Wednesday. Stephens reaffirmed an “overweight” rating on shares of Campbell Soup in a report on Wednesday, December 4th. Citigroup lowered their price target on Campbell Soup from $44.00 to $41.00 and set a “sell” rating on the stock in a report on Thursday, December 5th. Finally, Barclays lowered their price target on Campbell Soup from $49.00 to $46.00 and set an “underweight” rating on the stock in a report on Friday, December 6th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $46.36.
Check Out Our Latest Report on Campbell Soup
Campbell Soup Stock Up 5.1 %
Shares of NASDAQ CPB opened at $41.81 on Thursday. Campbell Soup has a 52 week low of $36.92 and a 52 week high of $52.81. The business has a 50-day simple moving average of $39.39 and a two-hundred day simple moving average of $44.31. The company has a quick ratio of 0.50, a current ratio of 0.91 and a debt-to-equity ratio of 1.74. The company has a market cap of $12.47 billion, a P/E ratio of 22.85, a P/E/G ratio of 2.71 and a beta of 0.15.
Campbell Soup (NASDAQ:CPB – Get Free Report) last issued its earnings results on Wednesday, March 5th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.73 by $0.01. Campbell Soup had a return on equity of 23.79% and a net margin of 5.57%. The business had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.74 billion. The company’s quarterly revenue was up 9.3% on a year-over-year basis. Research analysts anticipate that Campbell Soup will post 3.15 earnings per share for the current fiscal year.
Campbell Soup Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Thursday, April 3rd will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.56 annualized dividend and a yield of 3.73%. Campbell Soup’s payout ratio is 90.17%.
Insider Buying and Selling
In other news, EVP Anthony Sanzio sold 2,000 shares of Campbell Soup stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $41.90, for a total value of $83,800.00. Following the sale, the executive vice president now directly owns 16,551 shares in the company, valued at approximately $693,486.90. This trade represents a 10.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 20.19% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Campbell Soup
A number of large investors have recently made changes to their positions in CPB. Franklin Resources Inc. grew its position in shares of Campbell Soup by 1,593.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,904,440 shares of the company’s stock worth $91,623,000 after buying an additional 1,792,005 shares during the last quarter. Two Sigma Advisers LP grew its position in shares of Campbell Soup by 272.7% in the 4th quarter. Two Sigma Advisers LP now owns 2,243,300 shares of the company’s stock worth $93,949,000 after buying an additional 1,641,400 shares during the last quarter. Man Group plc grew its position in shares of Campbell Soup by 1,296.1% in the 4th quarter. Man Group plc now owns 1,407,161 shares of the company’s stock worth $58,932,000 after buying an additional 1,306,372 shares during the last quarter. Invesco Ltd. grew its position in shares of Campbell Soup by 38.2% in the 4th quarter. Invesco Ltd. now owns 4,645,548 shares of the company’s stock worth $194,556,000 after buying an additional 1,282,957 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Campbell Soup during the fourth quarter valued at approximately $50,908,000. 52.35% of the stock is currently owned by institutional investors.
Campbell Soup Company Profile
Campbell Soup Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States and internationally. The company operates through Meals & Beverages and Snacks segments. The Meals & Beverages segment engages in the retail and foodservice businesses in the United States and Canada.
Further Reading
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