Campbell Soup’s (CPB) “Overweight” Rating Reaffirmed at JPMorgan Chase & Co.
Campbell Soup (NYSE:CPB)‘s stock had its “overweight” rating reiterated by research analysts at JPMorgan Chase & Co. in a research note issued on Tuesday. They currently have a $48.00 price objective on the stock, down from their previous price objective of $50.00. JPMorgan Chase & Co.’s price target would suggest a potential upside of 6.62% from the company’s previous close.
CPB has been the topic of a number of other reports. Royal Bank of Canada set a $56.00 target price on Campbell Soup and gave the stock a “hold” rating in a report on Wednesday, October 25th. UBS Group decreased their target price on Campbell Soup from $46.00 to $42.00 and set a “sell” rating on the stock in a report on Thursday, November 9th. Credit Suisse Group set a $41.00 target price on Campbell Soup and gave the stock a “sell” rating in a report on Friday, November 24th. Piper Jaffray Companies set a $49.00 target price on Campbell Soup and gave the stock a “hold” rating in a report on Tuesday, November 28th. Finally, Citigroup upgraded Campbell Soup from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $45.51 to $57.00 in a report on Tuesday, January 16th. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. Campbell Soup has an average rating of “Hold” and a consensus target price of $49.92.
Shares of Campbell Soup (NYSE CPB) traded down $1.06 during midday trading on Tuesday, hitting $45.02. The company had a trading volume of 1,390,681 shares, compared to its average volume of 2,634,968. The company has a quick ratio of 0.39, a current ratio of 0.64 and a debt-to-equity ratio of 1.15. The firm has a market cap of $13,680.00, a PE ratio of 14.83, a price-to-earnings-growth ratio of 3.60 and a beta of 0.32. Campbell Soup has a twelve month low of $43.50 and a twelve month high of $59.94.
Campbell Soup declared that its Board of Directors has authorized a share repurchase plan on Monday, December 18th that allows the company to buyback outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.
In related news, insider Edward Carolan sold 6,500 shares of Campbell Soup stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $48.15, for a total transaction of $312,975.00. Following the completion of the sale, the insider now owns 41,506 shares of the company’s stock, valued at $1,998,513.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Carlos Barroso sold 4,300 shares of Campbell Soup stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $48.86, for a total value of $210,098.00. Following the sale, the senior vice president now directly owns 29,119 shares of the company’s stock, valued at approximately $1,422,754.34. The disclosure for this sale can be found here. Insiders have sold 15,284 shares of company stock worth $741,399 in the last quarter. 37.20% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CPB. Bessemer Group Inc. boosted its position in Campbell Soup by 80,239.5% during the third quarter. Bessemer Group Inc. now owns 3,445,763 shares of the company’s stock valued at $161,331,000 after purchasing an additional 3,441,474 shares during the last quarter. Beutel Goodman & Co Ltd. acquired a new stake in Campbell Soup during the fourth quarter valued at $103,733,000. LSV Asset Management boosted its position in Campbell Soup by 215.7% during the fourth quarter. LSV Asset Management now owns 3,095,193 shares of the company’s stock valued at $148,909,000 after purchasing an additional 2,114,693 shares during the last quarter. APG Asset Management N.V. boosted its position in Campbell Soup by 50.7% during the third quarter. APG Asset Management N.V. now owns 3,545,569 shares of the company’s stock valued at $166,004,000 after purchasing an additional 1,192,900 shares during the last quarter. Finally, Schroder Investment Management Group boosted its position in Campbell Soup by 29.7% during the fourth quarter. Schroder Investment Management Group now owns 4,619,380 shares of the company’s stock valued at $222,238,000 after purchasing an additional 1,058,752 shares during the last quarter. 49.17% of the stock is owned by hedge funds and other institutional investors.
About Campbell Soup
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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