Campbell Soup (NYSE:CPB) Announces Share Buyback Program

Campbell Soup (NYSE:CPB) declared that its Board of Directors has approved a share buyback program, which authorizes the company to repurchase outstanding shares on Monday, December 18th, EventVestor reports. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Shares of Campbell Soup (NYSE CPB) traded down $0.07 on Thursday, hitting $45.75. 1,562,212 shares of the stock traded hands, compared to its average volume of 2,190,064. Campbell Soup has a 52-week low of $44.99 and a 52-week 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 $13,770.00, a PE ratio of 16.00, a PEG ratio of 3.72 and a beta of 0.39.

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

The company also recently announced a quarterly dividend, which will be paid on Monday, January 29th. Investors of record on Wednesday, January 10th will be given a dividend of $0.35 per share. 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 3.06%. Campbell Soup’s payout ratio is 48.95%.

A number of equities analysts have commented on the stock. Royal Bank of Canada restated a “hold” rating and issued a $53.00 target price (down from $55.00) on shares of Campbell Soup in a research note on Wednesday, November 22nd. JPMorgan Chase & Co. restated a “hold” rating and issued a $50.00 target price on shares of Campbell Soup in a research note on Friday, December 15th. Credit Suisse Group set a $41.00 target price on shares of Campbell Soup and gave the stock a “sell” rating in a research note on Friday, November 24th. Piper Jaffray Companies set a $50.00 target price on shares of Campbell Soup and gave the stock a “hold” rating in a research note on Wednesday, October 11th. Finally, Morgan Stanley dropped their target price on shares of Campbell Soup from $47.00 to $46.00 and set an “underweight” rating on the stock in a research note on Friday, October 13th. Seven analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Campbell Soup has an average rating of “Hold” and an average target price of $49.83.

In other Campbell Soup news, SVP Carlos Barroso sold 4,300 shares of the company’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $48.86, for a total transaction of $210,098.00. Following the transaction, the senior vice president now owns 29,119 shares in the company, valued at approximately $1,422,754.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Randall W. Larrimore sold 2,242 shares of the company’s stock in a transaction that occurred on Thursday, December 27th. The shares were sold at an average price of $48.69, for a total transaction of $109,162.98. The disclosure for this sale can be found here. Insiders have sold 15,284 shares of company stock valued at $741,399 in the last three months. 37.20% of the stock is currently owned by corporate insiders.

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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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