Piper Jaffray Companies Reiterates Neutral Rating for Campbell Soup Company (CPB)
Campbell Soup Company (NYSE:CPB)‘s stock had its “neutral” rating reissued by analysts at Piper Jaffray Companies in a research report issued to clients and investors on Monday. They presently have a $50.00 price target on the stock, down from their previous price target of $56.00. Piper Jaffray Companies’ price objective would indicate a potential upside of 5.53% from the stock’s current price.
A number of other research firms have also weighed in on CPB. Credit Suisse Group restated a “sell” rating on shares of Campbell Soup in a research note on Wednesday, May 24th. Wells Fargo & Company restated a “market perform” rating and set a $58.00 price objective (down from $62.50) on shares of Campbell Soup in a research note on Tuesday, May 23rd. BidaskClub lowered shares of Campbell Soup from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 24th. J P Morgan Chase & Co restated a “neutral” rating and set a $55.00 price objective (down from $60.00) on shares of Campbell Soup in a research note on Wednesday, June 28th. Finally, Barclays PLC restated a “sell” rating on shares of Campbell Soup in a research note on Tuesday, July 25th. Seven equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $52.57.
Campbell Soup (CPB) opened at 47.38 on Monday. The company’s 50-day moving average is $51.70 and its 200 day moving average is $55.23. The stock has a market capitalization of $14.36 billion, a PE ratio of 29.91 and a beta of 0.36. Campbell Soup has a 12-month low of $45.30 and a 12-month high of $64.23.
Campbell Soup (NYSE:CPB) last released its quarterly earnings data on Thursday, August 31st. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.69 billion. Campbell Soup had a net margin of 11.24% and a return on equity of 59.84%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.46 earnings per share. On average, equities research analysts expect that Campbell Soup will post $3.04 earnings per share for the current fiscal year.
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Several institutional investors and hedge funds have recently bought and sold shares of the stock. Toronto Dominion Bank boosted its holdings 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 during the last quarter. Cetera Investment Advisers purchased a new position in shares of Campbell Soup in the second quarter worth approximately $338,000. Dynamic Technology Lab Private Ltd boosted its holdings 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 during the last quarter. Koch Industries Inc. purchased a new position in shares of Campbell Soup in the second quarter worth approximately $423,000. Finally, Verition Fund Management LLC boosted its holdings 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 during the last quarter. 44.32% 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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