Campbell Soup Company (CPB) Lowered to Strong Sell at BidaskClub
Campbell Soup Company (NYSE:CPB) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Saturday.
A number of other analysts have also commented on the company. Piper Jaffray Companies assumed coverage on Campbell Soup Company in a report on Wednesday, May 24th. They issued a “neutral” rating and a $59.00 price target on the stock. Credit Suisse Group restated a “sell” rating on shares of Campbell Soup Company in a report on Wednesday, May 24th. Wells Fargo & Company restated a “market perform” rating and issued a $58.00 price target (down from $62.50) on shares of Campbell Soup Company in a report on Tuesday, May 23rd. Finally, Sanford C. Bernstein lowered Campbell Soup Company from a “market perform” rating to an “underperform” rating and set a $54.00 price target on the stock. in a report on Tuesday, March 21st. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $59.95.
Shares of Campbell Soup Company (NYSE:CPB) traded down 0.69% during midday trading on Friday, hitting $53.58. The stock had a trading volume of 2,576,769 shares. Campbell Soup Company has a one year low of $52.58 and a one year high of $67.89. The firm’s 50-day moving average price is $57.18 and its 200-day moving average price is $59.00. The firm has a market capitalization of $16.24 billion, a PE ratio of 33.83 and a beta of 0.35.
Campbell Soup Company (NYSE:CPB) last issued its quarterly earnings results on Friday, May 19th. The company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by $0.05. The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.87 billion. Campbell Soup Company had a net margin of 6.17% and a return on equity of 59.83%. The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 earnings per share. On average, equities analysts predict that Campbell Soup Company will post $3.05 EPS for the current year.
In related news, Director Bennett Dorrance purchased 915,766 shares of the business’s stock in a transaction that occurred on Thursday, March 30th. The stock was acquired at an average cost of $57.34 per share, for a total transaction of $52,510,022.44. Following the completion of the purchase, the director now owns 24,978 shares in the company, valued at approximately $1,432,238.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 37.30% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. DUPONT CAPITAL MANAGEMENT Corp boosted its stake in Campbell Soup Company by 21.5% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 52,038 shares of the company’s stock valued at $2,979,000 after buying an additional 9,199 shares during the last quarter. Vicus Capital increased its position in shares of Campbell Soup Company by 6.1% in the first quarter. Vicus Capital now owns 3,686 shares of the company’s stock valued at $211,000 after buying an additional 213 shares during the period. Kentucky Retirement Systems bought a new position in shares of Campbell Soup Company during the fourth quarter valued at about $850,000. FMR LLC increased its position in shares of Campbell Soup Company by 2.6% in the fourth quarter. FMR LLC now owns 729,406 shares of the company’s stock valued at $44,106,000 after buying an additional 18,528 shares during the period. Finally, Pinnacle Associates Ltd. increased its position in shares of Campbell Soup Company by 41.0% in the first quarter. Pinnacle Associates Ltd. now owns 10,652 shares of the company’s stock valued at $610,000 after buying an additional 3,100 shares during the period. Hedge funds and other institutional investors own 43.93% of the company’s stock.
About Campbell Soup Company
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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