Campbell Soup (NASDAQ:CPB) Cut to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of Campbell Soup (NASDAQ:CPB - Free Report) from an overweight rating to a neutral rating in a research note published on Thursday morning, Marketbeat Ratings reports. They currently have $37.00 target price on the stock, down from their previous target price of $48.00.

Other analysts also recently issued reports about the company. Jefferies Financial Group lowered their price objective on Campbell Soup from $42.00 to $40.00 and set a "hold" rating for the company in a research note on Wednesday, March 5th. Piper Sandler upgraded Campbell Soup from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $47.00 to $56.00 in a research note on Thursday, November 14th. BNP Paribas upgraded shares of Campbell Soup to a "strong sell" rating in a research note on Wednesday, February 26th. Citigroup lowered their target price on shares of Campbell Soup from $44.00 to $41.00 and set a "sell" rating for the company in a report on Thursday, December 5th. Finally, Stifel Nicolaus cut their price target on shares of Campbell Soup from $47.00 to $40.00 and set a "hold" rating on the stock in a report on Friday, January 24th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Campbell Soup currently has an average rating of "Hold" and an average target price of $46.36.

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Campbell Soup Stock Up 0.6 %

NASDAQ CPB traded up $0.23 during mid-day trading on Thursday, hitting $42.04. The company's stock had a trading volume of 5,123,659 shares, compared to its average volume of 2,577,028. The firm has a market capitalization of $12.54 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 2.71 and a beta of 0.15. The company's 50 day simple moving average is $39.39 and its 200 day simple moving average is $44.22. The company has a current ratio of 0.91, a quick ratio of 0.50 and a debt-to-equity ratio of 1.74. Campbell Soup has a twelve month low of $36.92 and a twelve month high of $52.81.

Campbell Soup (NASDAQ:CPB - Get Free Report) last issued its quarterly earnings data on Wednesday, March 5th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.01. Campbell Soup had a net margin of 5.57% and a return on equity of 23.79%. The firm had revenue of $2.69 billion during the quarter, compared to analysts' expectations of $2.74 billion. Campbell Soup's quarterly revenue was up 9.3% compared to the same quarter last year. Analysts anticipate that Campbell Soup will post 3.15 earnings per share for the current year.

Campbell Soup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Thursday, April 3rd will be paid a $0.39 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.56 annualized dividend and a dividend yield of 3.71%. Campbell Soup's payout ratio is presently 90.17%.

Insider Transactions at Campbell Soup

In other news, EVP Anthony Sanzio sold 2,000 shares of the business's stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $41.90, for a total value of $83,800.00. Following the sale, the executive vice president now owns 16,551 shares of the company's stock, valued at $693,486.90. The trade was a 10.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 20.19% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Campbell Soup by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 23,625,605 shares of the company's stock worth $989,440,000 after acquiring an additional 447,203 shares in the last quarter. State Street Corp lifted its holdings in Campbell Soup by 3.1% during the 3rd quarter. State Street Corp now owns 10,048,679 shares of the company's stock worth $491,581,000 after purchasing an additional 298,203 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Campbell Soup by 6.1% during the 4th quarter. Van ECK Associates Corp now owns 9,247,213 shares of the company's stock worth $387,273,000 after purchasing an additional 531,281 shares in the last quarter. Beutel Goodman & Co Ltd. boosted its stake in Campbell Soup by 0.5% in the 4th quarter. Beutel Goodman & Co Ltd. now owns 6,925,365 shares of the company's stock worth $290,034,000 after purchasing an additional 35,160 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Campbell Soup by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 5,323,332 shares of the company's stock valued at $222,420,000 after buying an additional 57,717 shares in the last quarter. 52.35% of the stock is currently owned by hedge funds and other institutional investors.

About Campbell Soup

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.