Campbell Soup Company (CPB) To Go Ex-Dividend on October 12th
Campbell Soup Company (NYSE:CPB) announced a quarterly dividend on Wednesday, September 27th, RTT News reports. Stockholders of record on Friday, October 13th will be paid a dividend of 0.35 per share on Monday, October 30th. This represents a $1.40 annualized dividend and a dividend yield of 3.03%. The ex-dividend date is Thursday, October 12th.
Campbell Soup has raised its dividend payment by an average of 28.8% per year over the last three years. Campbell Soup has a payout ratio of 45.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Campbell Soup to earn $3.22 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 43.5%.
Campbell Soup (CPB) opened at 46.24 on Wednesday. The company has a 50-day moving average price of $47.87 and a 200 day moving average price of $53.40. Campbell Soup has a 52-week low of $45.00 and a 52-week high of $64.23. The stock has a market cap of $13.90 billion, a price-to-earnings ratio of 16.00 and a beta of 0.36.
Campbell Soup (NYSE:CPB) last released its quarterly earnings data on Thursday, August 31st. The company reported $0.52 EPS for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.03). The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.69 billion. Campbell Soup had a net margin of 11.24% and a return on equity of 59.84%. The firm’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.46 EPS. On average, analysts expect that Campbell Soup will post $3.05 earnings per share for the current year.
In other news, Director Charles R. Perrin sold 2,304 shares of the firm’s stock in a transaction that occurred on Friday, October 6th. The shares were sold at an average price of $46.46, for a total transaction of $107,043.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Luca Mignini purchased 4,300 shares of the business’s stock in a transaction dated Wednesday, September 27th. The shares were purchased at an average price of $46.47 per share, with a total value of $199,821.00. Following the acquisition, the insider now directly owns 88,178 shares in the company, valued at $4,097,631.66. The disclosure for this purchase can be found here. 37.30% of the stock is owned by company insiders.
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CPB has been the subject of a number of recent research reports. Piper Jaffray Companies reiterated a “neutral” rating and issued a $50.00 price objective (down previously from $56.00) on shares of Campbell Soup in a report on Monday, September 11th. Zacks Investment Research downgraded shares of Campbell Soup from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Credit Suisse Group set a $50.00 price objective on shares of Campbell Soup and gave the company a “sell” rating in a report on Friday, July 7th. Goldman Sachs Group, Inc. (The) cut their price objective on shares of Campbell Soup from $49.00 to $45.00 and set a “hold” rating for the company in a report on Sunday, September 3rd. Finally, Royal Bank Of Canada downgraded shares of Campbell Soup from an “underperform” rating to a “market perform” rating in a report on Sunday, September 3rd. Seven analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $51.00.
About Campbell Soup
Campbell Soup Company is a food company, which manufactures and markets food products. The Company’s segments include Americas Simple Meals and Beverages; Global Biscuits and Snacks, and Campbell Fresh. The Americas Simple Meals and Beverages segment includes the retail and food service channel businesses.
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