Campbell Soup (NYSE:CPB) Coverage Initiated by Analysts at Royal Bank of Canada

Stock analysts at Royal Bank of Canada began coverage on shares of Campbell Soup (NYSE:CPB) in a research report issued to clients and investors on Thursday, The Fly reports. The brokerage set an “outperform” rating and a $55.00 price target on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 16.60% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Citigroup upped their price objective on Campbell Soup from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. upped their price objective on Campbell Soup from $41.00 to $48.00 in a research report on Tuesday, September 3rd. Wells Fargo & Co reaffirmed a “hold” rating and issued a $45.00 price objective on shares of Campbell Soup in a research report on Friday, August 30th. ValuEngine cut Campbell Soup from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Finally, Bank of America upped their price objective on Campbell Soup from $36.00 to $40.00 and gave the company an “underperform” rating in a research report on Tuesday, September 3rd. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $43.50.

CPB stock opened at $47.17 on Thursday. The stock has a market capitalization of $14.10 billion, a PE ratio of 20.51, a price-to-earnings-growth ratio of 3.11 and a beta of 0.44. Campbell Soup has a 12-month low of $32.03 and a 12-month high of $48.03. The company has a current ratio of 0.58, a quick ratio of 0.33 and a debt-to-equity ratio of 6.39. The stock’s 50 day simple moving average is $46.13 and its 200 day simple moving average is $41.66.

Campbell Soup (NYSE:CPB) last released its quarterly earnings data on Friday, August 30th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.08. The business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Campbell Soup had a return on equity of 62.59% and a net margin of 2.25%. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.25 EPS. On average, research analysts predict that Campbell Soup will post 2.53 earnings per share for the current year.

In other news, SVP Adam G. Ciongoli sold 16,096 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $47.16, for a total transaction of $759,087.36. Following the transaction, the senior vice president now directly owns 70,984 shares of the company’s stock, valued at approximately $3,347,605.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 36.48% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Massey Quick Simon & CO. LLC bought a new position in shares of Campbell Soup during the 3rd quarter valued at $25,000. Citizens Financial Group Inc RI purchased a new stake in shares of Campbell Soup in the 2nd quarter worth $28,000. Meeder Asset Management Inc. increased its stake in shares of Campbell Soup by 204.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 783 shares of the company’s stock worth $31,000 after purchasing an additional 526 shares in the last quarter. Strategic Blueprint LLC purchased a new stake in shares of Campbell Soup in the 3rd quarter worth $47,000. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Campbell Soup in the 2nd quarter worth $57,000. 52.18% of the stock is currently owned by hedge funds and other institutional investors.

About Campbell Soup

Campbell Soup Company, together with its subsidiaries, manufactures and markets branded 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 products; Plum food and snack products; V8 juices and beverages; Campbell's tomato juices; and Pacific broth, soups, non-dairy beverages, and other simple meals.

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