Campbell Soup (NYSE:CPB) Declares Quarterly Dividend of $0.37

Campbell Soup (NYSE:CPB – Get Rating) announced a quarterly dividend on Tuesday, May 24th, RTT News reports. Shareholders of record on Thursday, July 7th will be paid a dividend of 0.37 per share on Monday, August 1st. This represents a $1.48 annualized dividend and a yield of 3.10%.

Campbell Soup has raised its dividend by an average of 1.9% per year over the last three years. Campbell Soup has a payout ratio of 51.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Campbell Soup to earn $2.86 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 51.7%.

NYSE:CPB traded up $1.60 on Tuesday, hitting $47.76. 2,614,620 shares of the company’s stock were exchanged, compared to its average volume of 2,590,091. The firm has a 50-day moving average price of $46.20 and a 200-day moving average price of $44.34. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.85 and a quick ratio of 0.46. Campbell Soup has a 52 week low of $39.76 and a 52 week high of $51.94. The company has a market cap of $14.41 billion, a P/E ratio of 15.76, a price-to-earnings-growth ratio of 10.29 and a beta of 0.40.

Campbell Soup (NYSE:CPB – Get Rating) last issued its quarterly earnings results on Wednesday, March 9th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.68 by $0.01. Campbell Soup had a net margin of 11.09% and a return on equity of 25.72%. The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.25 billion. During the same period in the previous year, the firm posted $0.84 EPS. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, research analysts expect that Campbell Soup will post 2.78 earnings per share for the current fiscal year.

Several brokerages have commented on CPB. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Campbell Soup from $45.00 to $46.00 in a research report on Tuesday, March 1st. UBS Group assumed coverage on shares of Campbell Soup in a research note on Wednesday, March 30th. They set a “sell” rating and a $42.00 price objective on the stock. StockNews.com upgraded shares of Campbell Soup from a “hold” rating to a “buy” rating in a research note on Saturday, May 14th. Citigroup boosted their price objective on shares of Campbell Soup from $45.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, March 10th. Finally, Royal Bank of Canada lowered shares of Campbell Soup from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $47.00 to $46.00 in a research note on Monday, March 28th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $44.30.

Large investors have recently made changes to their positions in the business. Lido Advisors LLC acquired a new position in shares of Campbell Soup during the 1st quarter worth approximately $409,000. Mackenzie Financial Corp lifted its holdings in shares of Campbell Soup by 55.2% during the 4th quarter. Mackenzie Financial Corp now owns 9,376 shares of the company’s stock worth $407,000 after acquiring an additional 3,335 shares during the period. Toroso Investments LLC bought a new stake in shares of Campbell Soup during the 1st quarter worth approximately $389,000. Point72 Hong Kong Ltd bought a new stake in shares of Campbell Soup during the 1st quarter worth approximately $373,000. Finally, Belpointe Asset Management LLC lifted its holdings in shares of Campbell Soup by 19.4% during the 4th quarter. Belpointe Asset Management LLC now owns 7,751 shares of the company’s stock worth $336,000 after acquiring an additional 1,261 shares during the period. Hedge funds and other institutional investors own 51.89% of the company’s stock.

About Campbell Soup (Get Rating)

Campbell Soup Company, together with its subsidiaries, manufactures and markets food and beverage products 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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