Campbell Soup (NYSE:CPB) had its price target trimmed by Morgan Stanley from $49.00 to $46.00 in a research report released on Tuesday, February 20th. The brokerage currently has an underweight rating on the stock.
CPB has been the subject of a number of other reports. Royal Bank of Canada set a $56.00 price target on Campbell Soup and gave the company a hold rating in a research note on Wednesday, October 25th. UBS Group reduced their price objective on Campbell Soup from $46.00 to $42.00 and set a sell rating for the company in a research note on Thursday, November 9th. Credit Suisse Group set a $41.00 price target on Campbell Soup and gave the company a sell rating in a research report on Friday, November 24th. Piper Jaffray Companies set a $49.00 price target on Campbell Soup and gave the company a hold rating in a research report on Tuesday, November 28th. Finally, Citigroup raised 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 report on Tuesday, January 16th. Seven research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $50.27.
Campbell Soup (NYSE:CPB) traded up $0.26 on Tuesday, hitting $44.20. The stock had a trading volume of 4,488,285 shares, compared to its average volume of 3,410,000. Campbell Soup has a fifty-two week low of $41.78 and a fifty-two week high of $59.60. The company has a quick ratio of 0.35, a current ratio of 0.64 and a debt-to-equity ratio of 1.15. The company has a market cap of $13,290.00, a P/E ratio of 14.40, a price-to-earnings-growth ratio of 2.66 and a beta of 0.38.
Campbell Soup announced that its board has approved a share buyback plan on Monday, December 18th that allows the company to repurchase outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
In related news, SVP Carlos Barroso sold 4,300 shares of the business’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $48.86, for a total transaction of $210,098.00. Following the completion of the transaction, the senior vice president now directly owns 29,119 shares of the company’s stock, valued at approximately $1,422,754.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Luca Mignini bought 4,400 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were bought at an average cost of $45.53 per share, with a total value of $200,332.00. Following the completion of the purchase, the insider now directly owns 87,814 shares in the company, valued at $3,998,171.42. The disclosure for this purchase can be found here. Insiders sold 15,284 shares of company stock worth $741,399 in the last 90 days. Company insiders own 37.20% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. boosted its position in shares of Campbell Soup by 371.3% during the 2nd quarter. Macquarie Group Ltd. now owns 39,223 shares of the company’s stock worth $2,039,000 after acquiring an additional 30,900 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Campbell Soup during the 3rd quarter worth about $1,714,000. Meeder Asset Management Inc. acquired a new position in shares of Campbell Soup during the 3rd quarter worth about $175,000. APG Asset Management N.V. boosted its position in shares of Campbell Soup by 50.7% during the 3rd quarter. APG Asset Management N.V. now owns 3,545,569 shares of the company’s stock worth $166,004,000 after acquiring an additional 1,192,900 shares in the last quarter. Finally, Strs Ohio boosted its position in shares of Campbell Soup by 7.4% during the 3rd quarter. Strs Ohio now owns 25,233 shares of the company’s stock worth $1,181,000 after acquiring an additional 1,747 shares in the last quarter. 50.21% of the stock is owned by hedge funds and other 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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