Campbell Soup (NYSE:CPB) Given Average Rating of “Reduce” by Brokerages

Shares of Campbell Soup (NYSE:CPB) have been given an average rating of “Reduce” by the fourteen ratings firms that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $46.38.

CPB has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Campbell Soup from $47.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Royal Bank of Canada restated a “sector perform” rating and issued a $47.00 price target on shares of Campbell Soup in a research note on Thursday, March 14th. Citigroup started coverage on shares of Campbell Soup in a research report on Thursday, February 1st. They issued a “sell” rating and a $41.00 price target for the company. Piper Sandler reaffirmed a “neutral” rating and issued a $47.00 target price on shares of Campbell Soup in a report on Tuesday, March 26th. Finally, DA Davidson assumed coverage on shares of Campbell Soup in a research note on Friday, March 1st. They set a “buy” rating and a $48.00 price target on the stock.

Campbell Soup Price Performance

NYSE:CPB opened at $44.20 on Monday. The stock has a market capitalization of $13.18 billion, a PE ratio of 17.27, a price-to-earnings-growth ratio of 2.83 and a beta of 0.24. Campbell Soup has a 52 week low of $37.94 and a 52 week high of $55.14. The stock’s 50-day moving average price is $42.97 and its 200-day moving average price is $42.37. The company has a quick ratio of 0.43, a current ratio of 1.01 and a debt-to-equity ratio of 1.17.

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

Campbell Soup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 29th. Investors of record on Thursday, April 4th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Wednesday, April 3rd. Campbell Soup’s payout ratio is 57.81%.

Hedge Funds Weigh In On Campbell Soup

Several institutional investors and hedge funds have recently modified their holdings of CPB. First Trust Direct Indexing L.P. raised its stake in Campbell Soup by 3.3% during the first quarter. First Trust Direct Indexing L.P. now owns 10,136 shares of the company’s stock worth $451,000 after purchasing an additional 328 shares during the period. Norden Group LLC bought a new stake in shares of Campbell Soup in the 1st quarter worth about $560,000. Diversified Trust Co increased its position in shares of Campbell Soup by 16.7% in the 1st quarter. Diversified Trust Co now owns 69,441 shares of the company’s stock worth $3,087,000 after purchasing an additional 9,945 shares during the last quarter. AMF Tjanstepension AB bought a new stake in shares of Campbell Soup during the 1st quarter valued at about $30,128,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Campbell Soup during the 1st quarter valued at about $935,000. Hedge funds and other institutional investors own 52.35% of the company’s stock.

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.