Research analysts at Wolfe Research started coverage on shares of Campbell Soup (NYSE:CPB) in a research note issued to investors on Friday, The Fly reports. The firm set a “market perform” rating on the stock.
A number of other brokerages have also weighed in on CPB. Zacks Investment Research upgraded Campbell Soup from a “sell” rating to a “hold” rating in a research report on Tuesday. Royal Bank of Canada restated a “hold” rating and set a $53.00 price objective (down previously from $55.00) on shares of Campbell Soup in a research report on Wednesday, November 22nd. JPMorgan Chase & Co. restated a “hold” rating and set a $50.00 price objective on shares of Campbell Soup in a research report on Friday, December 15th. Credit Suisse Group set a $41.00 price objective on Campbell Soup and gave the company a “sell” rating in a research report on Friday, November 24th. Finally, Citigroup upgraded Campbell Soup from a “neutral” rating to a “buy” rating and raised their price objective for the company from $45.51 to $57.00 in a research report on Tuesday, January 16th. Six equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $50.08.
Shares of Campbell Soup (CPB) traded down $0.29 during mid-day trading on Friday, reaching $47.17. The company’s stock had a trading volume of 245,201 shares, compared to its average volume of 2,580,000. Campbell Soup has a 1-year low of $44.99 and a 1-year high of $64.23. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.39. The stock has a market cap of $14,180.00, a price-to-earnings ratio of 16.49, a PEG ratio of 3.70 and a beta of 0.39.
Campbell Soup declared that its Board of Directors has approved a share buyback plan on Monday, December 18th that allows the company to repurchase shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
In related news, Director Randall W. Larrimore sold 2,242 shares of the stock in a transaction dated Thursday, December 27th. The shares were sold at an average price of $48.69, for a total value of $109,162.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Edward Carolan sold 6,500 shares of the stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $48.15, for a total transaction of $312,975.00. Following the completion of the transaction, the insider now directly owns 41,506 shares of the company’s stock, valued at approximately $1,998,513.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,284 shares of company stock valued at $741,399. 37.20% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the stock. First Personal Financial Services lifted its holdings in shares of Campbell Soup by 180.9% in the 3rd quarter. First Personal Financial Services now owns 2,677 shares of the company’s stock valued at $125,000 after acquiring an additional 1,724 shares during the last quarter. Cordasco Financial Network bought a new position in shares of Campbell Soup in the 4th quarter valued at about $144,000. Meeder Asset Management Inc. bought a new stake in Campbell Soup in the third quarter worth about $175,000. First Allied Advisory Services Inc. lifted its stake in Campbell Soup by 6.3% in the second quarter. First Allied Advisory Services Inc. now owns 3,847 shares of the company’s stock worth $201,000 after purchasing an additional 227 shares during the last quarter. Finally, ETRADE Capital Management LLC bought a new stake in Campbell Soup in the second quarter worth about $210,000. 46.23% of the stock is owned by hedge funds and other 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.
