Campbell Soup (NYSE:CPB) Earns Neutral Rating from Analysts at Smith Barney Citigroup

Smith Barney Citigroup initiated coverage on shares of Campbell Soup (NYSE:CPB) in a research note issued to investors on Monday, The Fly reports. The brokerage issued a neutral rating and a $52.00 price target on the stock.

CPB has been the topic of several other reports. Morgan Stanley upped their target price on Campbell Soup from $52.00 to $53.00 and gave the company an equal weight rating in a report on Friday, September 4th. Wells Fargo & Company cut their price target on Campbell Soup from $54.00 to $53.00 and set an equal weight rating on the stock in a report on Friday, September 4th. Zacks Investment Research cut Campbell Soup from a buy rating to a hold rating and set a $51.00 price target on the stock. in a report on Friday, September 4th. Jefferies Financial Group upgraded Campbell Soup from a hold rating to a buy rating and set a $59.00 price target on the stock in a report on Monday, June 22nd. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell assumed coverage on Campbell Soup in a report on Monday. They set a neutral rating and a $52.00 price target on the stock. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $52.06.

CPB opened at $47.75 on Monday. The company has a quick ratio of 0.49, a current ratio of 0.78 and a debt-to-equity ratio of 1.94. The stock has a market capitalization of $14.43 billion, a price-to-earnings ratio of 8.93, a P/E/G ratio of 11.61 and a beta of 0.48. Campbell Soup has a twelve month low of $40.70 and a twelve month high of $57.54. The company has a 50-day simple moving average of $47.59 and a 200 day simple moving average of $49.42.

Campbell Soup (NYSE:CPB) last announced its earnings results on Thursday, September 3rd. The company reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.03. Campbell Soup had a return on equity of 40.53% and a net margin of 18.73%. The business had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the prior year, the business posted $0.49 earnings per share. The firm’s revenue was up 4.2% on a year-over-year basis. Sell-side analysts anticipate that Campbell Soup will post 2.93 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 8th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date is Wednesday, October 7th. Campbell Soup’s payout ratio is currently 47.46%.

In related news, VP Stanley Polomski sold 6,075 shares of the stock in a transaction on Thursday, October 8th. The stock was sold at an average price of $48.07, for a total value of $292,025.25. Corporate insiders own 35.64% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp increased its position in shares of Campbell Soup by 7.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,388,017 shares of the company’s stock valued at $217,777,000 after purchasing an additional 290,876 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of Campbell Soup by 113.0% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 2,038,476 shares of the company’s stock valued at $101,168,000 after acquiring an additional 1,081,563 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Campbell Soup by 16.3% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,758,034 shares of the company’s stock valued at $87,251,000 after buying an additional 245,873 shares in the last quarter. APG Asset Management N.V. raised its holdings in shares of Campbell Soup by 2.6% during the 2nd quarter. APG Asset Management N.V. now owns 1,542,095 shares of the company’s stock valued at $68,142,000 after buying an additional 39,690 shares in the last quarter. Finally, California Public Employees Retirement System raised its holdings in shares of Campbell Soup by 6.0% during the 2nd quarter. California Public Employees Retirement System now owns 1,492,229 shares of the company’s stock valued at $74,059,000 after buying an additional 84,706 shares in the last quarter. 49.37% of the stock is owned by hedge funds and other institutional investors.

Campbell Soup Company Profile

Campbell Soup Company, together with its subsidiaries, engages in the manufacture and market food and beverage products. It operates through Meals & Beverages and Snacks segments. The Meals & Beverages segment engages in the retail and foodservice businesses in the United States and Canada. This segment provides Campbell's condensed and ready-to-serve soups; Swanson broth and stocks; Pacific Foods broth, soups, and non-dairy beverages; Prego pasta sauces; Pace Mexican sauces; Campbell's gravies, pasta, beans, and dinner sauces; Swanson canned poultry; Plum baby food and snacks; V8 juices and beverages; V8 juices and beverages; and Campbell's tomato juice.

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Analyst Recommendations for Campbell Soup (NYSE:CPB)

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