Campbell Soup (NYSE:CPB) Receives Average Rating of “Reduce” from Brokerages

Campbell Soup (NYSE:CPB) has received an average recommendation of “Reduce” from the fourteen brokerages that are currently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $46.38.

Several brokerages have weighed in on CPB. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $47.00 price objective on shares of Campbell Soup in a report on Thursday, March 14th. JPMorgan Chase & Co. upped their price objective 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 reiterated a “neutral” rating and set a $47.00 price target on shares of Campbell Soup in a report on Tuesday, March 26th. DA Davidson assumed coverage on shares of Campbell Soup in a report on Friday, March 1st. They set a “buy” rating and a $48.00 price target on the stock. Finally, Citigroup started coverage on Campbell Soup in a research note on Thursday, February 1st. They issued a “sell” rating and a $41.00 price target on the stock.

Institutional Investors Weigh In On Campbell Soup

Several large investors have recently made changes to their positions in the business. Van ECK Associates Corp grew its position in Campbell Soup by 97.2% during the fourth quarter. Van ECK Associates Corp now owns 7,329,256 shares of the company’s stock valued at $316,844,000 after buying an additional 3,613,495 shares during the period. Norges Bank bought a new position in shares of Campbell Soup during the 4th quarter valued at approximately $125,689,000. AMF Tjanstepension AB purchased a new stake in shares of Campbell Soup during the 1st quarter worth approximately $30,128,000. Bank of New York Mellon Corp raised its holdings in shares of Campbell Soup by 21.2% in the 1st quarter. Bank of New York Mellon Corp now owns 3,315,516 shares of the company’s stock worth $147,375,000 after purchasing an additional 580,411 shares during the period. Finally, Deutsche Bank AG lifted its stake in Campbell Soup by 62.3% in the third quarter. Deutsche Bank AG now owns 1,453,612 shares of the company’s stock valued at $59,714,000 after purchasing an additional 557,948 shares during the last quarter. 52.35% of the stock is owned by hedge funds and other institutional investors.

Campbell Soup Stock Up 0.5 %

Shares of CPB stock opened at $45.25 on Friday. Campbell Soup has a 52-week low of $37.94 and a 52-week high of $54.80. The firm’s 50-day moving average is $43.87 and its 200-day moving average is $42.92. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.43 and a current ratio of 1.01. The stock has a market cap of $13.49 billion, a price-to-earnings ratio of 17.68, a PEG ratio of 2.93 and a beta of 0.23.

Campbell Soup (NYSE:CPB) last released its quarterly earnings results on Wednesday, March 6th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. The business had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.44 billion. Campbell Soup had a return on equity of 23.18% and a net margin of 8.26%. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period last year, the firm posted $0.80 EPS. Sell-side analysts predict that Campbell Soup will post 3.05 EPS for the current year.

Campbell Soup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 29th. Shareholders of record on Thursday, April 4th were given a $0.37 dividend. The ex-dividend date was Wednesday, April 3rd. This represents a $1.48 annualized dividend and a yield of 3.27%. Campbell Soup’s dividend payout ratio 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.