Campbell Soup Co. (CPB) Downgraded by Argus
Argus cut shares of Campbell Soup Co. (NYSE:CPB) from a buy rating to a hold rating in a report issued on Monday. Argus currently has $55.38 price objective on the stock, up from their prior price objective of $47.77.
Several other equities research analysts have also recently weighed in on CPB. Zacks Investment Research cut Campbell Soup from a hold rating to a sell rating in a report on Tuesday, August 30th. Credit Suisse Group AG restated a sell rating and set a $60.00 target price on shares of Campbell Soup in a report on Thursday, July 28th. Deutsche Bank AG dropped their target price on Campbell Soup from $63.00 to $61.00 and set a hold rating for the company in a report on Friday, August 26th. Credit Agricole SA dropped their target price on Campbell Soup from $64.00 to $59.00 and set a market perform rating for the company in a report on Monday, September 12th. Finally, Goldman Sachs Group Inc. restated a neutral rating and set a $68.00 target price (up from $62.00) on shares of Campbell Soup in a report on Friday, July 15th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and one has given a buy rating to the company. Campbell Soup has an average rating of Hold and a consensus price target of $59.83.
Shares of Campbell Soup (NYSE:CPB) opened at 55.70 on Monday. The company’s 50 day moving average is $58.96 and its 200 day moving average is $62.22. Campbell Soup has a 12-month low of $47.77 and a 12-month high of $67.89. The firm has a market capitalization of $17.16 billion, a PE ratio of 30.77 and a beta of 0.31.
Campbell Soup (NYSE:CPB) last posted its quarterly earnings data on Thursday, September 1st. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 earned $1.69 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter in the previous year, the company posted $0.43 earnings per share. Campbell Soup’s revenue for the quarter was down .4% compared to the same quarter last year. On average, analysts forecast that Campbell Soup will post $3.05 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Wednesday, October 12th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date is Friday, October 7th. This is a positive change from Campbell Soup’s previous quarterly dividend of $0.31. Campbell Soup’s dividend payout ratio (DPR) is 69.44%.
In related news, 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 completion of the transaction, the vice president now owns 28,952 shares of the company’s stock, valued at approximately $1,671,688.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jeff Dunn sold 8,459 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $56.24, for a total value of $475,734.16. Following the transaction, the insider now directly owns 112,775 shares of the company’s stock, valued at approximately $6,342,466. The disclosure for this sale can be found here. Corporate insiders own 37.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of CPB. Norges Bank bought a new position in Campbell Soup during the fourth quarter worth $113,076,000. Janus Capital Management LLC raised its position in Campbell Soup by 87.3% in the second quarter. Janus Capital Management LLC now owns 2,674,791 shares of the company’s stock worth $177,954,000 after buying an additional 1,246,493 shares during the period. Laurion Capital Management LP raised its position in Campbell Soup by 105.4% in the second quarter. Laurion Capital Management LP now owns 62,400 shares of the company’s stock worth $4,151,000 after buying an additional 1,212,300 shares during the period. Jefferies Group LLC raised its position in Campbell Soup by 104.8% in the second quarter. Jefferies Group LLC now owns 53,863 shares of the company’s stock worth $3,584,000 after buying an additional 1,168,992 shares during the period. Finally, BlackRock Fund Advisors raised its position in Campbell Soup by 30.1% in the second quarter. BlackRock Fund Advisors now owns 4,693,665 shares of the company’s stock worth $312,270,000 after buying an additional 1,087,074 shares during the period. 43.99% of the stock is owned by 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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