Campbell Soup (NASDAQ:CPB) Coverage Initiated at Morgan Stanley

Equities researchers at Morgan Stanley assumed coverage on shares of Campbell Soup (NASDAQ:CPB) in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage set an “equal weight” rating and a $40.00 price target on the stock. Morgan Stanley’s target price would indicate a potential upside of 4.77% from the company’s current price.

Several other research firms have also recently commented on CPB. Citigroup reduced their target price on Campbell Soup from $39.00 to $37.00 and set a “sell” rating for the company in a research report on Thursday, March 6th. Royal Bank of Canada cut their price objective on Campbell Soup from $51.00 to $44.00 and set a “sector perform” rating for the company in a report on Thursday, March 6th. Wells Fargo & Company decreased their price objective on shares of Campbell Soup from $43.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 6th. BNP Paribas upgraded shares of Campbell Soup to a “strong sell” rating in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. lowered shares of Campbell Soup from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $48.00 to $37.00 in a report on Thursday, March 6th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Campbell Soup presently has an average rating of “Hold” and an average target price of $44.86.

Campbell Soup Trading Up 0.3 %

Shares of Campbell Soup stock opened at $38.18 on Monday. The company’s 50-day moving average price is $39.06 and its 200-day moving average price is $43.32. The company has a current ratio of 0.91, a quick ratio of 0.50 and a debt-to-equity ratio of 1.74. Campbell Soup has a 12-month low of $36.92 and a 12-month high of $52.81. The company has a market cap of $11.38 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 2.71 and a beta of 0.15.

Campbell Soup (NASDAQ:CPB) last posted its earnings results on Wednesday, March 5th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.01. The business had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $2.74 billion. Campbell Soup had a net margin of 5.57% and a return on equity of 23.79%. Campbell Soup’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, equities analysts expect that Campbell Soup will post 3.15 earnings per share for the current fiscal year.

Insider Transactions at Campbell Soup

In other news, EVP Anthony Sanzio sold 2,000 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $41.90, for a total transaction of $83,800.00. Following the completion of the sale, the executive vice president now owns 16,551 shares of the company’s stock, valued at approximately $693,486.90. This represents a 10.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 20.19% of the company’s stock.

Institutional Investors Weigh In On Campbell Soup

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CPB. Ballentine Partners LLC grew its holdings in Campbell Soup by 2.8% in the 4th quarter. Ballentine Partners LLC now owns 9,646 shares of the company’s stock worth $404,000 after acquiring an additional 262 shares during the last quarter. Principal Securities Inc. grew its stake in shares of Campbell Soup by 45.5% in the fourth quarter. Principal Securities Inc. now owns 927 shares of the company’s stock worth $39,000 after purchasing an additional 290 shares during the last quarter. SPC Financial Inc. increased its holdings in Campbell Soup by 2.3% during the 4th quarter. SPC Financial Inc. now owns 13,575 shares of the company’s stock valued at $569,000 after purchasing an additional 300 shares during the period. Ascent Wealth Partners LLC raised its position in Campbell Soup by 1.5% during the 4th quarter. Ascent Wealth Partners LLC now owns 20,176 shares of the company’s stock valued at $845,000 after purchasing an additional 306 shares during the last quarter. Finally, DoubleLine ETF Adviser LP lifted its holdings in Campbell Soup by 2.8% in the 4th quarter. DoubleLine ETF Adviser LP now owns 11,640 shares of the company’s stock worth $487,000 after buying an additional 312 shares during the period. 52.35% of the stock is currently owned by institutional investors.

About Campbell Soup

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.