Campbell Soup Co. (CPB) Upgraded to Hold at Zacks Investment Research
According to Zacks, “After a ten quarter long trend of either meeting or beating estimates, Campbell Soup succumbed to an earnings miss in fourth-quarter fiscal 2016. Moreover, the company’s margins and organic sales were hurt by soft Campbell Fresh performance that stemmed from low carrot sales and the voluntary recall of some Bolthouse Farms products. This, along with currency woes and higher promotional costs, dented Campbell’s results. On the flip side, the company remains pleased with the solid profits earned in fiscal 2016, fuelled by strong performance of its Americas Simple Meals and Global Biscuits segments, and cost saving efforts. Further, the company remains on track to improve Campbell Fresh’s long-term performance, and augment overall sales in fiscal 2017. This confidence in future prospects also encouraged management to declare a dividend hike, which along with its other shareholder-friendly moves, should boost investors’ sentiment”
CPB has been the topic of several other reports. Credit Suisse Group AG reissued a sell rating and set a $60.00 target price on shares of Campbell Soup in a research note on Thursday, July 28th. TheStreet lowered shares of Campbell Soup from a buy rating to a hold rating in a research note on Thursday, September 1st. Goldman Sachs Group Inc. reissued a neutral rating and set a $68.00 target price (up from $62.00) on shares of Campbell Soup in a research note on Friday, July 15th. Credit Agricole SA lowered their target price on shares of Campbell Soup from $64.00 to $59.00 and set a market perform rating on the stock in a research note on Monday, September 12th. Finally, Royal Bank Of Canada reissued a sector perform rating and set a $62.00 target price on shares of Campbell Soup in a research note on Monday, May 23rd. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $59.83.
Shares of Campbell Soup (NYSE:CPB) opened at 55.53 on Monday. Campbell Soup has a 52 week low of $47.77 and a 52 week high of $67.89. The company has a market cap of $17.10 billion, a PE ratio of 30.68 and a beta of 0.31. The stock’s 50 day moving average price is $59.32 and its 200-day moving average price is $62.32.
Campbell Soup (NYSE:CPB) last posted its earnings results on Thursday, September 1st. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by $0.04. Campbell Soup had a return on equity of 59.50% and a net margin of 7.07%. The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same period in the previous year, the company earned $0.43 earnings per share. The company’s revenue was down .4% compared to the same quarter last year. Analysts expect that Campbell Soup will post $3.06 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Wednesday, October 12th will be issued a dividend of $0.35 per share. The ex-dividend date is Friday, October 7th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.53%. This is an increase from Campbell Soup’s previous quarterly dividend of $0.31. Campbell Soup’s dividend payout ratio (DPR) is currently 69.44%.
In other news, insider Carlos Barroso sold 1,600 shares of the firm’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $57.68, for a total transaction of $92,288.00. Following the completion of the sale, the insider now owns 46,888 shares in the company, valued at approximately $2,704,499.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP William J. O’shea sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $57.74, for a total transaction of $750,620.00. Following the sale, the vice president now owns 28,952 shares of the company’s stock, valued at approximately $1,671,688.48. The disclosure for this sale can be found here. Insiders own 37.70% of the company’s stock.
Several institutional investors have recently bought and sold shares of CPB. Geode Capital Management LLC boosted its position in Campbell Soup by 5.6% in the first quarter. Geode Capital Management LLC now owns 1,835,032 shares of the company’s stock worth $116,867,000 after buying an additional 97,930 shares during the last quarter. AMP Capital Investors Ltd boosted its position in Campbell Soup by 55.5% in the first quarter. AMP Capital Investors Ltd now owns 141,450 shares of the company’s stock worth $9,076,000 after buying an additional 50,500 shares during the last quarter. National Pension Service boosted its position in Campbell Soup by 4.7% in the first quarter. National Pension Service now owns 133,348 shares of the company’s stock worth $8,506,000 after buying an additional 5,990 shares during the last quarter. State Treasurer State of Michigan boosted its position in Campbell Soup by 0.5% in the second quarter. State Treasurer State of Michigan now owns 62,247 shares of the company’s stock worth $4,141,000 after buying an additional 300 shares during the last quarter. Finally, Capstone Asset Management Co. boosted its position in Campbell Soup by 6.0% in the second quarter. Capstone Asset Management Co. now owns 24,705 shares of the company’s stock worth $1,644,000 after buying an additional 1,398 shares during the last quarter. 44.09% of the stock is owned by hedge funds and other institutional investors.
About Campbell Soup
Campbell Soup Company manufactures and markets food products. The Company’s segments include U.S. Simple Meals; Global Baking and Snacking; International Simple Meals and Beverages; U.S. Beverages, and Bolthouse and Foodservice. Its U.S. Simple Meals segment includes various products, such as Campbell’s condensed and ready-to-serve soups; Prego pasta sauces, and Pace Mexican sauces.
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