Piper Jaffray Companies Reaffirms Neutral Rating for Campbell Soup Company (NYSE:CPB)

Campbell Soup Company (NYSE:CPB)‘s stock had its “neutral” rating reaffirmed by investment analysts at Piper Jaffray Companies in a report issued on Monday, September 11th. They presently have a $50.00 price objective on the stock, down from their previous price objective of $56.00. Piper Jaffray Companies’ price target suggests a potential upside of 9.51% from the company’s previous close.

Other research analysts have also issued reports about the stock. Royal Bank Of Canada set a $60.00 target price on shares of Campbell Soup and gave the stock a “hold” rating in a research note on Tuesday, July 18th. Zacks Investment Research raised shares of Campbell Soup from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. Deutsche Bank AG restated a “hold” rating and set a $51.00 price objective (down previously from $58.00) on shares of Campbell Soup in a report on Friday, September 1st. Goldman Sachs Group, Inc. (The) lowered their price objective on shares of Campbell Soup from $49.00 to $45.00 and set a “hold” rating on the stock in a report on Sunday, September 3rd. Finally, Wells Fargo & Company restated a “market perform” rating and set a $58.00 price objective (down previously from $62.50) on shares of Campbell Soup in a report on Tuesday, May 23rd. Seven equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $52.33.

Shares of Campbell Soup (CPB) opened at 45.87 on Monday. The firm has a 50-day moving average price of $50.88 and a 200-day moving average price of $54.73. Campbell Soup has a 52-week low of $45.30 and a 52-week high of $64.23. The firm has a market capitalization of $13.90 billion, a P/E ratio of 15.87 and a beta of 0.36.

Campbell Soup (NYSE:CPB) last issued its earnings results on Thursday, August 31st. The company reported $0.52 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.03). The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.69 billion. Campbell Soup had a return on equity of 59.84% and a net margin of 11.24%. The firm’s revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.46 earnings per share. On average, equities research analysts anticipate that Campbell Soup will post $3.05 EPS for the current year.

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A number of large investors have recently modified their holdings of CPB. BlackRock Inc. boosted its position in shares of Campbell Soup by 2,522.6% in the first quarter. BlackRock Inc. now owns 14,676,936 shares of the company’s stock valued at $840,105,000 after acquiring an additional 14,117,312 shares during the period. Vanguard Group Inc. boosted its position in shares of Campbell Soup by 1.2% in the second quarter. Vanguard Group Inc. now owns 13,103,256 shares of the company’s stock valued at $683,334,000 after acquiring an additional 160,180 shares during the period. State Street Corp boosted its position in shares of Campbell Soup by 0.9% in the second quarter. State Street Corp now owns 8,750,268 shares of the company’s stock valued at $456,326,000 after acquiring an additional 82,280 shares during the period. Alliancebernstein L.P. boosted its position in shares of Campbell Soup by 33.3% in the first quarter. Alliancebernstein L.P. now owns 3,333,547 shares of the company’s stock valued at $190,812,000 after acquiring an additional 833,687 shares during the period. Finally, Schroder Investment Management Group boosted its position in shares of Campbell Soup by 6.2% in the second quarter. Schroder Investment Management Group now owns 3,097,618 shares of the company’s stock valued at $161,045,000 after acquiring an additional 180,429 shares during the period. Hedge funds and other institutional investors own 44.29% of the company’s stock.

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.

Analyst Recommendations for Campbell Soup (NYSE:CPB)

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