Campbell Soup Company (CPB) is Reiterated by RBC Capital Mkts to Sector Perform, Raises Price Target to $ 60

Campbell Soup Company (CPB) was Reiterated by RBC Capital Mkts to “Sector Perform” according to the research note released today. The brokerage firm has raised the Price Target to $ 60 from a previous price target of $58 . RBC Capital Mkts advised their investors in a research report released on Nov 28, 2016.

Many Wall Street Analysts have commented on Campbell Soup Company. Campbell Soup Company was Downgraded by Argus to ” Hold” on Sep 19, 2016. Shares were Reiterated by UBS on Sep 2, 2016 to “Sell” and Lowered the Price Target to $ 51 from a previous price target of $52 .Shares were Reiterated by RBC Capital Mkts on Sep 2, 2016 to “Sector Perform” and Lowered the Price Target to $ 58 from a previous price target of $62 .

On the company’s financial health, Campbell Soup Company reported $1.00 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Nov 22, 2016. Analyst had a consensus of $0.95. The company had revenue of $2202.00 million for the quarter, compared to analysts expectations of $2197.60 million. During the same quarter in the previous year, the company posted $0.95 EPS.

Campbell Soup Company opened for trading at $57 and hit $57.77 on the upside on Friday, eventually ending the session at $57.52, with a gain of 1.23% or 0.7 points. The heightened volatility saw the trading volume jump to 12,17,654 shares. Company has a market cap of $17,690 M.

Investors should note that on Nov 17, 2016, Campbell Soup Company announced a cash dividend of $0.3500. The company’s management has announced Jan 9, 2017 as the ex-dividend date and fixed the record date on Jan 11, 2017. The payable date has been fixed on Jan 30, 2017.

In a different news, on Oct 4, 2016, Edward Carolan (Senior Vice President) sold 2,400 shares at $54.35 per share price. According to the SEC, on Sep 9, 2016, Jeff Dunn (Senior Vice President) sold 8,459 shares at $56.24 per share price. On Sep 6, 2016, Luca Mignini (Senior Vice President) sold 11,255 shares at $57.87 per share price, according to the Form-4 filing with the securities and exchange commission.

Campbell Soup Company manufactures and markets food products. The Company’s segments include U.S. Simple Meals; Global Baking and Snacking; International Simple Meals and Beverages; U.S. Beverages and Bolthouse and Foodservice. Its U.S. Simple Meals segment includes various products such as Campbell’s condensed and ready-to-serve soups; Prego pasta sauces and Pace Mexican sauces. Its Global Baking and Snacking segment includes Pepperidge Farm cookies crackers bakery and frozen products in the United States retail. Its International Simple Meals and Beverages segment includes retail business in Canada. Its U.S. Beverages segment includes various products such as V8 juices and beverages and Campbell’s tomato juice. Its Bolthouse and Foodservice segment comprises the Bolthouse Farms carrot products operating segment including fresh carrots juice concentrate and fiber. Its brands include Arnott’s Bolthouse Farms Campbell’s Garden Fresh Gourmet Goldfish Kjeldsens and Pace.

Campbell Soup Company

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