Campbell Soup (NYSE:CPB) Given Consensus Recommendation of “Reduce” by Analysts

Shares of Campbell Soup (NYSE:CPB) have been assigned an average rating of “Reduce” from the fourteen brokerages that are currently covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $46.38.

A number of equities research analysts have issued reports on CPB shares. DA Davidson started coverage on Campbell Soup in a research report on Friday, March 1st. They set a “buy” rating and a $48.00 target price for the company. JPMorgan Chase & Co. upped their target price on Campbell Soup from $47.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Piper Sandler reaffirmed a “neutral” rating and set a $47.00 target price on shares of Campbell Soup in a research report on Tuesday, March 26th. Citigroup started coverage on Campbell Soup in a research report on Thursday, February 1st. They set a “sell” rating and a $41.00 target price for the company. Finally, Evercore ISI started coverage on Campbell Soup in a research report on Wednesday, March 13th. They set an “in-line” rating and a $49.00 target price for the company.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CPB. Van ECK Associates Corp lifted its position in Campbell Soup by 97.2% in the fourth quarter. Van ECK Associates Corp now owns 7,329,256 shares of the company’s stock worth $316,844,000 after purchasing an additional 3,613,495 shares during the period. Norges Bank acquired a new position in Campbell Soup during the fourth quarter worth $125,689,000. Envestnet Asset Management Inc. raised its stake in Campbell Soup by 3,894.4% during the first quarter. Envestnet Asset Management Inc. now owns 2,308,585 shares of the company’s stock worth $3,114,000 after acquiring an additional 2,250,789 shares in the last quarter. State Street Corp raised its stake in Campbell Soup by 16.8% during the first quarter. State Street Corp now owns 12,182,043 shares of the company’s stock worth $542,954,000 after acquiring an additional 1,749,650 shares in the last quarter. Finally, Morgan Stanley raised its stake in Campbell Soup by 66.9% during the fourth quarter. Morgan Stanley now owns 3,512,543 shares of the company’s stock worth $199,337,000 after acquiring an additional 1,408,175 shares in the last quarter. 52.35% of the stock is owned by institutional investors.

Campbell Soup Trading Down 2.1 %

NYSE:CPB opened at $42.31 on Monday. The stock’s 50 day moving average price is $42.97 and its 200 day moving average price is $42.30. Campbell Soup has a 52 week low of $37.94 and a 52 week high of $55.52. The company has a market capitalization of $12.61 billion, a P/E ratio of 16.53, a P/E/G ratio of 2.77 and a beta of 0.24. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.43 and a current ratio of 1.01.

Campbell Soup (NYSE:CPB) last released its quarterly earnings data on Wednesday, March 6th. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. Campbell Soup had a return on equity of 23.18% and a net margin of 8.26%. The firm had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the prior year, the company posted $0.80 earnings per share. The firm’s revenue was down 1.2% on a year-over-year basis. On average, research analysts forecast that Campbell Soup will post 3.05 EPS for the current fiscal year.

Campbell Soup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 29th. Investors of record on Thursday, April 4th will be given a $0.37 dividend. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $1.48 annualized dividend and a yield of 3.50%. Campbell Soup’s dividend payout ratio (DPR) is currently 57.81%.

Campbell Soup Company Profile

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.