Campbell Soup (NYSE:CPB)’s share price gapped down before the market opened on Friday . The stock had previously closed at $49.52, but opened at $47.70. Campbell Soup shares last traded at $46.17, with a volume of 7061220 shares changing hands.
CPB has been the subject of several research reports. Citigroup upgraded shares of Campbell Soup from a “neutral” rating to a “buy” rating and increased their price target for the company from $45.51 to $57.00 in a research report on Tuesday, January 16th. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $50.00 price objective on shares of Campbell Soup in a report on Friday, December 15th. Piper Jaffray Companies set a $49.00 price objective on shares of Campbell Soup and gave the company a “hold” rating in a report on Tuesday, November 28th. Royal Bank of Canada reaffirmed a “hold” rating and set a $53.00 price objective (down from $55.00) on shares of Campbell Soup in a report on Wednesday, November 22nd. Finally, Zacks Investment Research raised shares of Campbell Soup from a “sell” rating to a “hold” rating in a report on Tuesday, January 23rd. Six investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $50.08.
The firm has a market cap of $13,879.02, a price-to-earnings ratio of 13.27, a P/E/G ratio of 3.63 and a beta of 0.32. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.39 and a current ratio of 0.77.
Campbell Soup announced that its Board of Directors has initiated a share repurchase program on Monday, December 18th that permits the company to repurchase outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
In other news, SVP Carlos Barroso sold 4,300 shares of the stock in a transaction dated 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 $1,422,754.34. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Randall W. Larrimore sold 2,242 shares of the stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $48.69, for a total transaction of $109,162.98. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,284 shares of company stock worth $741,399. Insiders own 37.20% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its holdings in shares of Campbell Soup by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 6,513,912 shares of the company’s stock worth $313,384,000 after buying an additional 20,720 shares in the last quarter. Schroder Investment Management Group lifted its holdings in shares of Campbell Soup by 29.7% in the fourth quarter. Schroder Investment Management Group now owns 4,619,380 shares of the company’s stock worth $222,238,000 after buying an additional 1,058,752 shares in the last quarter. APG Asset Management N.V. lifted its holdings in shares of Campbell Soup by 7.4% in the fourth quarter. APG Asset Management N.V. now owns 3,808,869 shares of the company’s stock worth $152,602,000 after buying an additional 263,300 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Campbell Soup by 80,239.5% in the third quarter. Bessemer Group Inc. now owns 3,445,763 shares of the company’s stock worth $161,331,000 after buying an additional 3,441,474 shares in the last quarter. Finally, LSV Asset Management lifted its holdings in shares of Campbell Soup by 215.7% in the fourth quarter. LSV Asset Management now owns 3,095,193 shares of the company’s stock worth $148,909,000 after buying an additional 2,114,693 shares in the last quarter. 47.79% of the stock is currently owned by hedge funds and other institutional investors.
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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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