Campbell Soup Company (CPB) Stock Rating Lowered by Royal Bank Of Canada
Campbell Soup Company (NYSE:CPB) was downgraded by research analysts at Royal Bank Of Canada from an “underperform” rating to a “market perform” rating in a note issued to investors on Sunday.
CPB has been the topic of a number of other research reports. Piper Jaffray Companies assumed coverage on Campbell Soup in a research report on Wednesday, May 24th. They set a “neutral” rating and a $59.00 target price on the stock. Credit Suisse Group cut their target price on Campbell Soup from $47.00 to $43.00 and set an “underperform” rating on the stock in a research report on Friday. Barclays PLC reiterated a “sell” rating on shares of Campbell Soup in a research report on Tuesday, July 25th. Wells Fargo & Company reiterated a “market perform” rating and set a $58.00 target price (down previously from $62.50) on shares of Campbell Soup in a research report on Tuesday, May 23rd. Finally, Zacks Investment Research upgraded Campbell Soup from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. 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 company. Campbell Soup presently has a consensus rating of “Hold” and a consensus price target of $54.34.
Shares of Campbell Soup (NYSE CPB) opened at 45.40 on Friday. The stock has a market cap of $13.76 billion, a P/E ratio of 28.66 and a beta of 0.36. The firm’s 50-day moving average price is $52.32 and its 200 day moving average price is $55.78. Campbell Soup has a 1-year low of $45.29 and a 1-year high of $64.23.
Campbell Soup (NYSE:CPB) last posted its earnings results on Thursday, August 31st. The company reported $0.52 EPS for the quarter, missing the Zacks’ consensus estimate of $0.55 by $0.03. Campbell Soup had a return on equity of 59.84% and a net margin of 11.24%. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same quarter last year, the firm posted $0.46 EPS. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, equities analysts expect that Campbell Soup will post $3.12 earnings per share for the current fiscal year.
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A number of large investors have recently made changes to their positions in the stock. Toronto Dominion Bank raised its stake in shares of Campbell Soup by 24.1% in the second quarter. Toronto Dominion Bank now owns 64,868 shares of the company’s stock worth $3,382,000 after buying an additional 12,598 shares in the last quarter. Cetera Investment Advisers acquired a new stake in shares of Campbell Soup during the second quarter worth $338,000. Dynamic Technology Lab Private Ltd raised its stake in shares of Campbell Soup by 59.8% in the second quarter. Dynamic Technology Lab Private Ltd now owns 16,099 shares of the company’s stock worth $839,000 after buying an additional 6,025 shares in the last quarter. Koch Industries Inc. acquired a new stake in shares of Campbell Soup during the second quarter worth $423,000. Finally, Verition Fund Management LLC raised its stake in shares of Campbell Soup by 63.6% in the second quarter. Verition Fund Management LLC now owns 22,201 shares of the company’s stock worth $1,158,000 after buying an additional 8,633 shares in the last quarter. 43.91% of the stock is currently owned by institutional investors.
Campbell Soup Company Profile
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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