Campbell Soup Company (CPB) Raised to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Campbell Soup Company (NYSE:CPB) from a sell rating to a hold rating in a research report released on Tuesday.
According to Zacks, “Campbell Soup is on track with its strategic growth initiatives, through its focus on acquisitions aimed at strengthening its brand portfolio. Its strategy of concentrating on supply chain efficiencies, along with cutting costs is likely to drive growth. Campbell has generated solid results from its three-year cost savings program. This led management to raise the lower end of its EPS and EBIT views. However, the company has lagged the broader industry in the last three months. The company is bearing the brunt of a tough macroeconomic scenario in the food industry, with soft consumption patterns. This, along with intense competition from e-commerce giants dented top-line in the third quarter. Also, continued softness in C-Fresh due to lingering constraints from the Bolthouse Farms product recall remains a concern. These factors led to a tweaked sales view for the fiscal. Estimates have been stable ahead of the fourth quarter earnings release.”
Other analysts have also issued reports about the company. Barclays PLC reissued a sell rating on shares of Campbell Soup in a report on Tuesday, July 25th. Wells Fargo & Company reissued a market perform rating and issued a $58.00 price objective (down from $62.50) on shares of Campbell Soup in a report on Tuesday, May 23rd. Piper Jaffray Companies began coverage on Campbell Soup in a report on Wednesday, May 24th. They issued a neutral rating and a $59.00 price objective on the stock. Credit Suisse Group reissued a sell rating on shares of Campbell Soup in a report on Wednesday, May 24th. Finally, BidaskClub lowered Campbell Soup from a sell rating to a strong sell rating in a report on Saturday, June 24th. Six investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the stock. Campbell Soup currently has an average rating of Hold and an average target price of $54.96.
Campbell Soup (NYSE:CPB) opened at 45.40 on Tuesday. Campbell Soup has a 52 week low of $45.29 and a 52 week high of $64.23. The company has a market capitalization of $13.76 billion, a P/E ratio of 28.66 and a beta of 0.36. The company’s 50 day moving average price is $52.32 and its 200-day moving average price is $55.78.
Campbell Soup (NYSE:CPB) last issued its quarterly earnings data on Thursday, August 31st. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.55 by $0.03. Campbell Soup had a net margin of 11.24% and a return on equity of 59.84%. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same period in the previous year, the business posted $0.46 earnings per share. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. Equities research analysts expect that Campbell Soup will post $3.12 earnings per share for the current year.
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A number of institutional investors have recently added to or reduced their stakes in the company. Motco raised its position in Campbell Soup by 301.9% in the second quarter. Motco now owns 2,130 shares of the company’s stock worth $111,000 after buying an additional 1,600 shares during the period. IFP Advisors Inc raised its position in Campbell Soup by 2.3% in the first quarter. IFP Advisors Inc now owns 2,472 shares of the company’s stock worth $142,000 after buying an additional 55 shares during the period. Johnson Financial Group Inc. raised its position in Campbell Soup by 19.2% in the first quarter. Johnson Financial Group Inc. now owns 2,535 shares of the company’s stock worth $145,000 after buying an additional 408 shares during the period. Mercer Capital Advisers Inc. raised its position in Campbell Soup by 13.6% in the second quarter. Mercer Capital Advisers Inc. now owns 3,374 shares of the company’s stock worth $176,000 after buying an additional 405 shares during the period. Finally, Van ECK Associates Corp raised its position in Campbell Soup by 7.0% in the first quarter. Van ECK Associates Corp now owns 3,122 shares of the company’s stock worth $179,000 after buying an additional 204 shares during the period. 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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