Campbell Soup Co. (CPB) Lifted to Hold at Zacks Investment Research
According to Zacks, “After a ten quarter long trend of either meeting or beating estimates, Campbell Soup succumbed to an earnings miss in fourth-quarter fiscal 2016. Moreover, the company’s margins and organic sales were hurt by soft Campbell Fresh performance that stemmed from low carrot sales and the voluntary recall of some Bolthouse Farms products. This, along with currency woes and higher promotional costs, dented Campbell’s results. On the flip side, the company remains pleased with the solid profits earned in fiscal 2016, fuelled by strong performance of its Americas Simple Meals and Global Biscuits segments, and cost saving efforts. Further, the company remains on track to improve Campbell Fresh’s long-term performance, and augment overall sales in fiscal 2017. This confidence in future prospects also encouraged management to declare a dividend hike, which along with its other shareholder-friendly moves, should boost investors’ sentiment”
A number of other equities research analysts have also commented on CPB. Royal Bank Of Canada reaffirmed a sector perform rating and issued a $62.00 price objective on shares of Campbell Soup in a research note on Monday, May 23rd. Goldman Sachs Group Inc. reiterated a neutral rating and set a $68.00 target price (up previously from $62.00) on shares of Campbell Soup in a research report on Friday, July 15th. Credit Suisse Group AG reiterated a sell rating and set a $60.00 target price on shares of Campbell Soup in a research report on Thursday, July 28th. Deutsche Bank AG dropped their target price on shares of Campbell Soup from $63.00 to $61.00 and set a hold rating on the stock in a research report on Friday, August 26th. Finally, Citigroup Inc. dropped their target price on shares of Campbell Soup from $67.00 to $63.00 and set a neutral rating on the stock in a research report on Friday, September 2nd. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $59.83.
Campbell Soup (NYSE:CPB) opened at 55.70 on Monday. The company has a market cap of $17.16 billion, a P/E ratio of 30.77 and a beta of 0.31. Campbell Soup has a 12 month low of $47.77 and a 12 month high of $67.89. The stock has a 50 day moving average of $58.96 and a 200-day moving average of $62.22.
Campbell Soup (NYSE:CPB) last posted its quarterly earnings data on Thursday, September 1st. The company reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by $0.04. Campbell Soup had a net margin of 7.07% and a return on equity of 59.50%. The firm earned $1.69 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same period in the prior year, the company posted $0.43 earnings per share. The company’s revenue for the quarter was down .4% compared to the same quarter last year. Equities research analysts expect that Campbell Soup will post $3.05 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Wednesday, October 12th will be paid a $0.35 dividend. This is a positive change from Campbell Soup’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Friday, October 7th. This represents a $1.40 annualized dividend and a dividend yield of 2.51%. Campbell Soup’s dividend payout ratio is presently 69.44%.
In related news, insider Jeff Dunn sold 8,459 shares of the stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $56.24, for a total transaction of $475,734.16. Following the completion of the transaction, the insider now owns 112,775 shares in the company, valued at $6,342,466. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Carlos Barroso sold 1,600 shares of the stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $57.68, for a total transaction of $92,288.00. Following the transaction, the insider now owns 46,888 shares of the company’s stock, valued at approximately $2,704,499.84. The disclosure for this sale can be found here. 37.70% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC raised its position in Campbell Soup by 5.6% in the first quarter. Geode Capital Management LLC now owns 1,835,032 shares of the company’s stock valued at $116,867,000 after buying an additional 97,930 shares during the last quarter. AMP Capital Investors Ltd raised its position in Campbell Soup by 55.5% in the first quarter. AMP Capital Investors Ltd now owns 141,450 shares of the company’s stock valued at $9,076,000 after buying an additional 50,500 shares during the last quarter. National Pension Service raised its position in Campbell Soup by 4.7% in the first quarter. National Pension Service now owns 133,348 shares of the company’s stock valued at $8,506,000 after buying an additional 5,990 shares during the last quarter. State Treasurer State of Michigan raised its position in Campbell Soup by 0.5% in the second quarter. State Treasurer State of Michigan now owns 62,247 shares of the company’s stock valued at $4,141,000 after buying an additional 300 shares during the last quarter. Finally, Capstone Asset Management Co. raised its position in Campbell Soup by 6.0% in the second quarter. Capstone Asset Management Co. now owns 24,705 shares of the company’s stock valued at $1,644,000 after buying an additional 1,398 shares during the last quarter. Institutional investors own 43.99% of the company’s stock.
About Campbell Soup
Campbell Soup Company manufactures and markets food products. The Company’s segments include U.S. Simple Meals; Global Baking and Snacking; International Simple Meals and Beverages; U.S. Beverages, and Bolthouse and Foodservice. Its U.S. Simple Meals segment includes various products, such as Campbell’s condensed and ready-to-serve soups; Prego pasta sauces, and Pace Mexican sauces.
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