Credit Suisse Group restated their underperform rating on shares of Campbell Soup (NYSE:CPB) in a report published on Monday, MarketBeat reports. The brokerage currently has a $40.00 price objective on the stock.
A number of other equities research analysts also recently issued reports on CPB. Wolfe Research began coverage on Campbell Soup in a research report on Friday, January 26th. They set a market perform rating on the stock. Zacks Investment Research raised Campbell Soup from a sell rating to a hold rating in a research report on Tuesday, January 23rd. Goldman Sachs reissued a sell rating and set a $43.00 price target on shares of Campbell Soup in a research report on Friday. Citigroup reissued a neutral rating and set a $54.00 price target (up previously from $50.00) on shares of Campbell Soup in a research report on Wednesday, December 20th. Finally, Morgan Stanley reduced their price target on Campbell Soup from $49.00 to $46.00 and set an underweight rating on the stock in a research report on Tuesday, February 20th. Seven analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Campbell Soup presently has an average rating of Hold and an average target price of $49.60.
Shares of NYSE:CPB opened at $42.81 on Monday. The company has a market cap of $12,760.77, a P/E ratio of 14.01, a P/E/G ratio of 2.42 and a beta of 0.32. Campbell Soup has a 1 year low of $40.99 and a 1 year high of $59.14. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.35 and a current ratio of 0.64.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Wednesday, April 11th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date is Tuesday, April 10th. Campbell Soup’s dividend payout ratio is presently 46.05%.
Campbell Soup announced that its Board of Directors has authorized a share buyback plan on Monday, December 18th that allows the company to repurchase outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
In other Campbell Soup news, insider Luca Mignini bought 4,400 shares of Campbell Soup stock in a transaction on Wednesday, February 21st. The shares were purchased at an average price of $45.53 per share, with a total value of $200,332.00. Following the acquisition, 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 can be accessed through this link. Company insiders own 37.20% of the company’s stock.
Several hedge funds have recently modified their holdings of the business. Elkfork Partners LLC bought a new position in shares of Campbell Soup in the 4th quarter valued at $876,000. Xact Kapitalforvaltning AB lifted its stake in shares of Campbell Soup by 5.2% in the 4th quarter. Xact Kapitalforvaltning AB now owns 36,175 shares of the company’s stock valued at $1,740,000 after acquiring an additional 1,774 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Campbell Soup by 2,423.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 215,198 shares of the company’s stock valued at $10,353,000 after acquiring an additional 206,669 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Campbell Soup by 4.6% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 67,682 shares of the company’s stock valued at $3,256,000 after acquiring an additional 3,000 shares during the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. lifted its stake in shares of Campbell Soup by 65.5% in the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 9,100 shares of the company’s stock valued at $438,000 after acquiring an additional 3,600 shares during the last quarter. 50.21% of the stock is currently owned by hedge funds and other institutional investors.
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Campbell Soup Company Profile
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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