Goldman Sachs Reiterates Sell Rating for Campbell Soup (CPB)
Goldman Sachs restated their sell rating on shares of Campbell Soup (NYSE:CPB) in a research report report published on Friday, Marketbeat.com reports. They currently have a $43.00 price objective on the stock.
Other research analysts have also issued reports about the company. JPMorgan Chase reaffirmed an overweight rating and issued a $48.00 price objective (down from $50.00) on shares of Campbell Soup in a report on Tuesday, February 20th. Wolfe Research assumed coverage on Campbell Soup in a report on Friday, January 26th. They issued a market perform rating on the stock. Zacks Investment Research raised Campbell Soup from a sell rating to a hold rating in a report on Tuesday, January 23rd. Morgan Stanley decreased their price objective on Campbell Soup from $49.00 to $46.00 and set an underweight rating on the stock in a report on Tuesday, February 20th. Finally, Piper Jaffray lowered Campbell Soup from a neutral rating to an underweight rating and set a $59.00 price objective on the stock. in a report on Wednesday, February 28th. Seven investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $49.60.
Shares of NYSE CPB opened at $42.81 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.35 and a debt-to-equity ratio of 1.15. Campbell Soup has a one year low of $40.99 and a one year high of $59.14. The firm has a market capitalization of $12,760.77, a price-to-earnings ratio of 14.08, a PEG ratio of 2.42 and a beta of 0.32.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Wednesday, April 11th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, April 10th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.27%. Campbell Soup’s payout ratio is 46.05%.
Campbell Soup announced that its board has authorized a share repurchase plan on Monday, December 18th that authorizes the company to buyback shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.
In related news, insider Luca Mignini bought 4,400 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 87,814 shares in the company, valued at approximately $3,998,171.42. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 37.20% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Baird Financial Group Inc. lifted its position in shares of Campbell Soup by 103.3% during the 4th quarter. Baird Financial Group Inc. now owns 38,359 shares of the company’s stock valued at $1,845,000 after acquiring an additional 19,488 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Campbell Soup by 102.1% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 28,180 shares of the company’s stock worth $1,356,000 after buying an additional 14,235 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Campbell Soup by 48.3% during the 4th quarter. Franklin Resources Inc. now owns 36,102 shares of the company’s stock worth $1,736,000 after buying an additional 11,764 shares during the last quarter. LPL Financial LLC lifted its position in shares of Campbell Soup by 47.6% during the 4th quarter. LPL Financial LLC now owns 47,874 shares of the company’s stock worth $2,303,000 after buying an additional 15,441 shares during the last quarter. Finally, Ellington Management Group LLC bought a new stake in shares of Campbell Soup during the 4th quarter worth $284,000. Hedge funds and other institutional investors own 50.21% of the company’s stock.
About Campbell Soup
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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