Campbell Soup (CPB) Given “Neutral” Rating at Citigroup

Citigroup restated their neutral rating on shares of Campbell Soup (NYSE:CPB) in a research report sent to investors on Wednesday morning, Marketbeat Ratings reports. The firm currently has a $54.00 price objective on the stock, up from their previous price objective of $50.00.

CPB has been the subject of a number of other research reports. Credit Suisse Group restated a sell rating and issued a $43.00 price objective (down previously from $47.00) on shares of Campbell Soup in a research report on Friday, September 1st. Royal Bank of Canada restated a hold rating and issued a $53.00 price objective (down previously from $55.00) on shares of Campbell Soup in a research report on Wednesday, November 22nd. J P Morgan Chase & Co restated a hold rating and issued a $50.00 price objective on shares of Campbell Soup in a research report on Friday, December 15th. Zacks Investment Research upgraded shares of Campbell Soup from a sell rating to a hold rating in a research report on Tuesday, August 29th. Finally, UBS Group restated a sell rating and issued a $46.00 price objective (down previously from $50.00) on shares of Campbell Soup in a research report on Friday, September 1st. Seven equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $49.83.

Shares of Campbell Soup (CPB) traded up $0.10 on Wednesday, hitting $48.77. 1,530,826 shares of the stock traded hands, compared to its average volume of 3,330,000. Campbell Soup has a twelve month low of $44.99 and a twelve month high of $64.23. The firm has a market capitalization of $14,690.00, a P/E ratio of 17.05, a price-to-earnings-growth ratio of 3.83 and a beta of 0.40. The company has a quick ratio of 0.39, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

Campbell Soup (NYSE:CPB) last announced its earnings results on Tuesday, November 21st. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.05). Campbell Soup had a return on equity of 56.88% and a net margin of 11.08%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same quarter last year, the company posted $1.00 EPS. Campbell Soup’s quarterly revenue was down 1.9% on a year-over-year basis. sell-side analysts forecast that Campbell Soup will post 2.95 earnings per share for the current fiscal year.

Campbell Soup declared that its Board of Directors has initiated a share buyback plan on Monday, December 18th that authorizes the company to repurchase shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Monday, January 29th. Shareholders of record on Wednesday, January 10th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $1.40 dividend on an annualized basis and a yield of 2.87%. Campbell Soup’s dividend payout ratio (DPR) is presently 48.95%.

In other Campbell Soup 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 completion of the transaction, 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 filing with the SEC, which is available at this link. Also, Director Charles R. Perrin sold 2,304 shares of the stock in a transaction dated Friday, October 6th. The shares were sold at an average price of $46.46, for a total transaction of $107,043.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,104 shares of company stock valued at $630,117. 37.20% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the business. Berkshire Asset Management LLC PA increased its stake in shares of Campbell Soup by 45.3% during the 3rd quarter. Berkshire Asset Management LLC PA now owns 12,036 shares of the company’s stock worth $564,000 after purchasing an additional 3,750 shares in the last quarter. Manning & Napier Advisors LLC increased its stake in shares of Campbell Soup by 3.2% during the 3rd quarter. Manning & Napier Advisors LLC now owns 1,201,707 shares of the company’s stock worth $56,262,000 after purchasing an additional 37,577 shares in the last quarter. Northern Capital Management LLC increased its stake in shares of Campbell Soup by 235.8% during the 3rd quarter. Northern Capital Management LLC now owns 73,810 shares of the company’s stock worth $3,456,000 after purchasing an additional 51,830 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Campbell Soup by 6.5% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 133,937 shares of the company’s stock worth $6,984,000 after purchasing an additional 8,119 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Campbell Soup by 15.7% during the 3rd quarter. First Trust Advisors LP now owns 431,245 shares of the company’s stock worth $20,191,000 after purchasing an additional 58,407 shares in the last quarter. 46.04% of the stock is owned by 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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