JPMorgan Chase & Co. Upgrades Campbell Soup (NYSE:CPB) to Neutral

Campbell Soup (NYSE:CPB) was upgraded by equities researchers at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a report released on Tuesday, MarketBeat.com reports. The brokerage currently has a $41.00 price target on the stock, up from their prior price target of $40.00. JPMorgan Chase & Co.‘s price target suggests a potential downside of 5.25% from the stock’s previous close. The analysts noted that the move was a valuation call.

A number of other equities research analysts also recently issued reports on CPB. ValuEngine upgraded Campbell Soup from a “sell” rating to a “hold” rating in a research note on Monday, May 13th. Evercore ISI initiated coverage on Campbell Soup in a research note on Tuesday, June 11th. They set an “in-line” rating and a $43.00 price target for the company. Zacks Investment Research upgraded Campbell Soup from a “sell” rating to a “hold” rating and set a $45.00 price target for the company in a research note on Friday, June 7th. Wells Fargo & Co boosted their price target on Campbell Soup from $38.00 to $41.00 and gave the company a “market perform” rating in a research note on Thursday, June 6th. Finally, Credit Suisse Group boosted their price target on Campbell Soup from $30.00 to $36.00 and gave the company an “underperform” rating in a research note on Thursday, June 6th. Six analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $39.73.

NYSE CPB opened at $43.27 on Tuesday. Campbell Soup has a one year low of $32.03 and a one year high of $43.76. The stock has a 50-day moving average of $41.62 and a 200 day moving average of $38.84. The company has a market capitalization of $12.97 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 3.30 and a beta of 0.51. The company has a debt-to-equity ratio of 6.07, a quick ratio of 0.36 and a current ratio of 0.62.

Campbell Soup (NYSE:CPB) last released its quarterly earnings data on Wednesday, June 5th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.47 by $0.09. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.35 billion. Campbell Soup had a return on equity of 54.23% and a net margin of 3.19%. Campbell Soup’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period last year, the company earned $0.70 EPS. On average, equities analysts predict that Campbell Soup will post 2.54 earnings per share for the current fiscal year.

In related news, VP Stanley Polomski sold 9,732 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $41.01, for a total value of $399,109.32. Following the transaction, the vice president now directly owns 24,540 shares of the company’s stock, valued at approximately $1,006,385.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Randall W. Larrimore sold 3,400 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $41.36, for a total value of $140,624.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,132 shares of company stock valued at $780,333. 37.20% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of CPB. Roble Belko & Company Inc purchased a new position in Campbell Soup in the 1st quarter worth approximately $27,000. Citizens Financial Group Inc RI purchased a new position in Campbell Soup in the 2nd quarter worth approximately $28,000. Creative Financial Designs Inc. ADV purchased a new position in Campbell Soup in the 1st quarter worth approximately $31,000. Meeder Asset Management Inc. lifted its holdings in Campbell Soup by 204.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 783 shares of the company’s stock worth $31,000 after purchasing an additional 526 shares in the last quarter. Finally, CWM LLC lifted its holdings in Campbell Soup by 319.5% in the 1st quarter. CWM LLC now owns 839 shares of the company’s stock worth $32,000 after purchasing an additional 639 shares in the last quarter. 51.25% of the stock is currently owned by institutional investors.

Campbell Soup Company Profile

Campbell Soup Company, together with its subsidiaries, manufactures and markets branded food and beverage products. It operates through three segments: Americas Simple Meals and Beverages, Global Biscuits and Snacks, and Campbell Fresh. The Americas Simple Meals and Beverages segment engages in the retail and food service of Campbell's condensed and ready-to-serve soups; Swanson broth and stocks; Prego pasta sauces; Pace Mexican sauces; Campbell's gravies, pastas, beans, and dinner sauces; Swanson canned poultry products; Plum food and snack products; V8 juices and beverages; Campbell's tomato juices; and Pacific broth, soups, non-dairy beverages, and other simple meals.

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Analyst Recommendations for Campbell Soup (NYSE:CPB)

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