Royal Bank of Canada Reaffirms “Sector Perform” Rating for Campbell Soup (NYSE:CPB)

Royal Bank of Canada reiterated their sector perform rating on shares of Campbell Soup (NYSE:CPB) in a research note published on Tuesday, Benzinga reports. Royal Bank of Canada currently has a $47.00 price target on the stock.

A number of other analysts also recently issued reports on the company. TD Cowen raised their price objective on Campbell Soup from $46.00 to $47.00 and gave the stock a hold rating in a research report on Wednesday, August 21st. StockNews.com downgraded Campbell Soup from a hold rating to a sell rating in a research report on Wednesday, August 21st. Sanford C. Bernstein raised Campbell Soup from an underperform rating to a market perform rating and raised their price objective for the stock from $42.00 to $46.00 in a research report on Wednesday, May 15th. Citigroup raised their price objective on Campbell Soup from $41.00 to $42.00 and gave the stock a sell rating in a research report on Thursday, May 23rd. Finally, DA Davidson lifted their target price on Campbell Soup from $47.00 to $49.00 and gave the company a buy rating in a research report on Monday, June 10th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Campbell Soup currently has a consensus rating of Hold and a consensus price target of $47.08.

Campbell Soup Trading Down 1.8 %

Shares of CPB stock opened at $49.25 on Tuesday. Campbell Soup has a fifty-two week low of $37.94 and a fifty-two week high of $50.99. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.24 and a current ratio of 0.62. The stock’s fifty day moving average is $47.35 and its two-hundred day moving average is $45.08. The firm has a market capitalization of $14.70 billion, a P/E ratio of 19.94, a PEG ratio of 2.90 and a beta of 0.16.

Campbell Soup (NYSE:CPB) last posted its quarterly earnings results on Thursday, August 29th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.62 by $0.01. Campbell Soup had a return on equity of 23.26% and a net margin of 7.85%. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the previous year, the firm earned $0.50 EPS. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. Research analysts expect that Campbell Soup will post 3.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Campbell Soup

Institutional investors and hedge funds have recently made changes to their positions in the stock. Brandes Investment Partners LP lifted its stake in Campbell Soup by 38.8% during the second quarter. Brandes Investment Partners LP now owns 12,695 shares of the company’s stock worth $574,000 after purchasing an additional 3,550 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in Campbell Soup in the second quarter valued at approximately $760,000. William B. Walkup & Associates Inc. purchased a new stake in Campbell Soup in the second quarter valued at approximately $144,000. Northwestern Mutual Wealth Management Co. lifted its stake in Campbell Soup by 18.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 13,843 shares of the company’s stock valued at $626,000 after buying an additional 2,152 shares during the last quarter. Finally, Creative Planning raised its stake in shares of Campbell Soup by 2.4% during the second quarter. Creative Planning now owns 112,956 shares of the company’s stock worth $5,104,000 after purchasing an additional 2,661 shares during the last quarter. 52.35% of the stock is owned by institutional investors and hedge funds.

Campbell Soup Company Profile

Campbell Soup Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States and internationally. The company operates through Meals & Beverages and Snacks segments. The Meals & Beverages segment engages in the retail and foodservice businesses in the United States and Canada.