Campbell Soup (NYSE:CPB) had its price target decreased by Jefferies Group from $42.00 to $39.00 in a research note issued to investors on Wednesday, American Banking News reports. The firm currently has a hold rating on the stock.
“CPB delivered very low 1Q14 results but lowered the FY14 outlook only slightly. We are concerned that the reduction was not meaningful enough. With very tough comps in 3Q14 and an overall sluggish consumer and less support from truly new innovation, the growth guidance still looks aggressive, in our view. We are therefore modeling FY14 adj. EPS of 9 cents (3.5%) below the low end of the new guidance and do not see an entry point.,” the firm’s analyst commented.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks downgraded shares of Campbell Soup from a neutral rating to an underperform rating in a research note to investors on Thursday, October 10th. They now have a $36.00 price target on the stock. Separately, analysts at Deutsche Bank reiterated a hold rating on shares of Campbell Soup in a research note to investors on Tuesday, September 17th. They now have a $45.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. cut their price target on shares of Campbell Soup from $40.00 to $38.00 in a research note to investors on Tuesday, September 17th. They now have an underweight rating on the stock. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $42.00.
Shares of Campbell Soup (NYSE:CPB) opened at 38.60 on Wednesday. Campbell Soup has a 52-week low of $34.30 and a 52-week high of $48.83. The stock’s 50-day moving average is $41.63 and its 200-day moving average is $44.0. The company has a market cap of $12.101 billion and a P/E ratio of 26.79.
Campbell Soup (NYSE:CPB) last issued its quarterly earnings data on Tuesday, November 19th. The company reported $0.66 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.87 by $0.21. The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter last year, the company posted $0.88 earnings per share. Campbell Soup’s revenue was down 1.8% compared to the same quarter last year. On average, analysts predict that Campbell Soup will post $2.56 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, January 27th. Shareholders of record on Tuesday, January 7th will be given a dividend of $0.31 per share. This represents a $1.25 dividend on an annualized basis and a yield of 3.23%.
Campbell Soup Company (NYSE:CPB), together with its subsidiaries, is a manufacturer and marketer of branded convenience food products.
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