BNP Paribas Upgrades Campbell Soup (NASDAQ:CPB) to Strong Sell

Campbell Soup (NASDAQ:CPB) was upgraded by equities research analysts at BNP Paribas to a “strong sell” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $51.00 price objective on shares of Campbell Soup in a research note on Monday, December 2nd. Stephens reissued an “overweight” rating on shares of Campbell Soup in a research note on Wednesday, December 4th. Barclays cut their target price on Campbell Soup from $49.00 to $46.00 and set an “underweight” rating on the stock in a report on Friday, December 6th. DA Davidson reissued a “neutral” rating and issued a $51.00 price target on shares of Campbell Soup in a research note on Wednesday, December 4th. Finally, Piper Sandler upgraded Campbell Soup from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $47.00 to $56.00 in a research report on Thursday, November 14th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Campbell Soup presently has an average rating of “Hold” and a consensus price target of $50.17.

Campbell Soup Stock Down 0.5 %

CPB stock opened at $39.85 on Wednesday. The company has a market cap of $11.88 billion, a PE ratio of 21.78, a price-to-earnings-growth ratio of 2.71 and a beta of 0.19. The company has a quick ratio of 0.50, a current ratio of 0.91 and a debt-to-equity ratio of 1.74. Campbell Soup has a 52 week low of $36.92 and a 52 week high of $52.81. The business has a 50-day simple moving average of $39.57 and a 200 day simple moving average of $44.70.

Campbell Soup (NASDAQ:CPB) last issued its quarterly earnings results on Tuesday, December 3rd. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.02. Campbell Soup had a net margin of 5.57% and a return on equity of 23.79%. Sell-side analysts anticipate that Campbell Soup will post 3.15 EPS for the current fiscal year.

Insider Activity

In related news, EVP Anthony Sanzio sold 2,000 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were 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 in the company, valued at approximately $693,486.90. This trade represents a 10.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 20.19% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CPB. Franklin Resources Inc. lifted its stake in Campbell Soup by 1,593.8% in the third quarter. Franklin Resources Inc. now owns 1,904,440 shares of the company’s stock valued at $91,623,000 after purchasing an additional 1,792,005 shares during the last quarter. Two Sigma Advisers LP raised its stake in shares of Campbell Soup by 272.7% in the fourth quarter. Two Sigma Advisers LP now owns 2,243,300 shares of the company’s stock valued at $93,949,000 after buying an additional 1,641,400 shares during the period. Man Group plc lifted its position in shares of Campbell Soup by 1,296.1% during the 4th quarter. Man Group plc now owns 1,407,161 shares of the company’s stock valued at $58,932,000 after buying an additional 1,306,372 shares during the last quarter. Invesco Ltd. grew its stake in shares of Campbell Soup by 38.2% during the 4th quarter. Invesco Ltd. now owns 4,645,548 shares of the company’s stock worth $194,556,000 after acquiring an additional 1,282,957 shares during the period. Finally, Norges Bank purchased a new stake in Campbell Soup in the 4th quarter worth about $50,908,000. 52.35% of the stock is owned by institutional investors.

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.