Campbell Soup (NASDAQ:CPB) Rating Increased to Buy at Argus

Campbell Soup (NASDAQ:CPB) was upgraded by stock analysts at Argus from a “hold” rating to a “buy” rating in a note issued to investors on Friday, Marketbeat Ratings reports. The brokerage currently has a $59.00 target price on the stock. Argus’ price objective suggests a potential upside of 15.21% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. TD Cowen lifted their target price on Campbell Soup from $47.00 to $51.00 and gave the stock a “hold” rating in a report on Thursday, September 12th. Barclays lifted their target price on Campbell Soup from $45.00 to $49.00 and gave the stock an “underweight” rating in a report on Thursday, September 12th. Citigroup lifted their target price on Campbell Soup from $41.00 to $42.00 and gave the stock a “sell” rating in a report on Thursday, May 23rd. Royal Bank of Canada lifted their target price on Campbell Soup from $47.00 to $51.00 and gave the stock a “sector perform” rating in a report on Friday, September 13th. Finally, DA Davidson boosted their price objective on Campbell Soup from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $49.69.

Campbell Soup Trading Up 0.7 %

Shares of CPB stock opened at $51.21 on Friday. Campbell Soup has a 52-week low of $37.94 and a 52-week high of $52.81. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.24 and a current ratio of 0.61. The firm has a market capitalization of $15.29 billion, a PE ratio of 20.73, a PEG ratio of 3.09 and a beta of 0.18. The stock has a fifty day simple moving average of $49.19 and a two-hundred day simple moving average of $46.07.

Campbell Soup (NASDAQ:CPB) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. Campbell Soup had a return on equity of 24.08% and a net margin of 5.88%. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same quarter last year, the business posted $0.50 earnings per share. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. On average, analysts predict that Campbell Soup will post 3.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Van ECK Associates Corp grew its stake in shares of Campbell Soup by 1.9% during the second quarter. Van ECK Associates Corp now owns 8,709,949 shares of the company’s stock valued at $393,603,000 after buying an additional 161,392 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Campbell Soup by 21.2% in the first quarter. Bank of New York Mellon Corp now owns 3,315,516 shares of the company’s stock valued at $147,375,000 after purchasing an additional 580,411 shares during the period. Norges Bank purchased a new stake in shares of Campbell Soup in the fourth quarter valued at approximately $125,689,000. Dimensional Fund Advisors LP boosted its holdings in shares of Campbell Soup by 14.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,876,253 shares of the company’s stock valued at $129,971,000 after purchasing an additional 363,736 shares during the period. Finally, LSV Asset Management boosted its holdings in shares of Campbell Soup by 5,022.5% in the second quarter. LSV Asset Management now owns 2,438,300 shares of the company’s stock valued at $110,187,000 after purchasing an additional 2,390,700 shares during the period. Institutional investors own 52.35% of the company’s stock.

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.