Campbell Soup (NASDAQ:CPB - Free Report) had its price objective lowered by Bank of America from $45.00 to $41.00 in a report published on Thursday morning,Benzinga reports. The brokerage currently has an underperform rating on the stock.
A number of other brokerages have also weighed in on CPB. DA Davidson restated a "neutral" rating and set a $51.00 price target on shares of Campbell Soup in a research note on Wednesday, December 4th. Piper Sandler raised shares of Campbell Soup from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $47.00 to $56.00 in a research report on Thursday, November 14th. Stifel Nicolaus decreased their price target on shares of Campbell Soup from $47.00 to $40.00 and set a "hold" rating for the company in a report on Friday, January 24th. Stephens reiterated an "overweight" rating on shares of Campbell Soup in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company reduced their target price on Campbell Soup from $45.00 to $43.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 7th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Campbell Soup presently has an average rating of "Hold" and an average target price of $46.36.
View Our Latest Research Report on CPB
Campbell Soup Stock Up 5.1 %
Shares of NASDAQ CPB traded up $2.02 during trading hours on Thursday, hitting $41.81. 6,629,049 shares of the stock were exchanged, compared to its average volume of 2,566,800. Campbell Soup has a 12 month low of $36.92 and a 12 month high of $52.81. The firm has a fifty day moving average price of $39.39 and a 200-day moving average price of $44.31. The company has a quick ratio of 0.50, a current ratio of 0.91 and a debt-to-equity ratio of 1.74. The company has a market cap of $12.47 billion, a PE ratio of 22.85, a PEG ratio of 2.71 and a beta of 0.15.
Campbell Soup (NASDAQ:CPB - Get Free Report) last issued its quarterly earnings results on Wednesday, March 5th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.73 by $0.01. The business had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.74 billion. Campbell Soup had a return on equity of 23.79% and a net margin of 5.57%. Campbell Soup's revenue was up 9.3% on a year-over-year basis. On average, sell-side analysts expect that Campbell Soup will post 3.15 EPS for the current year.
Campbell Soup Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Thursday, April 3rd will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend is Thursday, April 3rd. Campbell Soup's dividend payout ratio is currently 90.17%.
Insider Buying and Selling
In other Campbell Soup 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 transaction, the executive vice president now owns 16,551 shares in the company, valued at approximately $693,486.90. This represents a 10.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 20.19% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the business. Sherman Asset Management Inc. acquired a new position in Campbell Soup during the fourth quarter worth $36,000. Ashton Thomas Securities LLC purchased a new stake in shares of Campbell Soup during the third quarter worth about $39,000. Principal Securities Inc. raised its position in shares of Campbell Soup by 45.5% during the 4th 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. Kentucky Trust Co purchased a new position in Campbell Soup in the 4th quarter valued at about $42,000. Finally, Quent Capital LLC boosted its holdings in Campbell Soup by 77.7% in the 4th quarter. Quent Capital LLC now owns 1,100 shares of the company's stock worth $46,000 after buying an additional 481 shares during the last quarter. Hedge funds and other institutional investors own 52.35% of the company's stock.
Campbell Soup Company Profile
(
Get Free Report)
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.
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