Campbell Soup (NYSE:CPB) Given New $52.00 Price Target at Piper Sandler

Posted by Defense World Staff on Jun 9th, 2023

Campbell Soup (NYSE:CPB – Get Rating) had its price objective decreased by Piper Sandler from $55.00 to $52.00 in a research note issued to investors on Thursday, The Fly reports.

Several other brokerages have also issued reports on CPB. Bank of America lowered their price target on Campbell Soup from $51.00 to $49.00 in a research note on Thursday. Barclays decreased their price target on shares of Campbell Soup from $53.00 to $50.00 in a research note on Thursday. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Campbell Soup from $54.00 to $53.00 and set a hold rating on the stock in a research note on Monday, March 20th. StockNews.com initiated coverage on shares of Campbell Soup in a research note on Thursday, May 18th. They set a buy rating for the company. Finally, Credit Suisse Group upped their price objective on Campbell Soup from $50.00 to $51.00 and gave the company a neutral rating in a research note on Thursday, March 9th. Two equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $51.00.

Campbell Soup Trading Up 1.5 %

Shares of NYSE:CPB opened at $46.77 on Thursday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.31 and a current ratio of 0.77. The stock’s 50-day moving average is $53.42 and its 200-day moving average is $53.67. The company has a market cap of $14.01 billion, a P/E ratio of 17.32, a P/E/G ratio of 4.38 and a beta of 0.36. Campbell Soup has a 52-week low of $44.37 and a 52-week high of $57.78.

Campbell Soup (NYSE:CPB – Get Rating) last released its earnings results on Wednesday, June 7th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. Campbell Soup had a return on equity of 26.97% and a net margin of 8.86%. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same quarter last year, the firm posted $0.70 EPS. The company’s revenue was up 4.6% on a year-over-year basis. Equities research analysts predict that Campbell Soup will post 3.01 earnings per share for the current year.

Campbell Soup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Thursday, July 6th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.16%. The ex-dividend date is Wednesday, July 5th. Campbell Soup’s payout ratio is 54.81%.

Institutional Trading of Campbell Soup

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. grew its holdings in Campbell Soup by 29.8% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 29,150 shares of the company’s stock valued at $1,299,000 after purchasing an additional 6,692 shares during the period. HighTower Advisors LLC grew its holdings in shares of Campbell Soup by 60.0% in the 1st quarter. HighTower Advisors LLC now owns 20,855 shares of the company’s stock valued at $932,000 after buying an additional 7,819 shares during the period. Cetera Advisor Networks LLC increased its position in shares of Campbell Soup by 31.3% in the 1st quarter. Cetera Advisor Networks LLC now owns 11,020 shares of the company’s stock valued at $491,000 after buying an additional 2,628 shares in the last quarter. MetLife Investment Management LLC increased its position in shares of Campbell Soup by 22.7% in the 1st quarter. MetLife Investment Management LLC now owns 54,864 shares of the company’s stock valued at $2,445,000 after buying an additional 10,144 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in Campbell Soup by 6.8% during the 1st quarter. Rhumbline Advisers now owns 319,394 shares of the company’s stock worth $14,235,000 after buying an additional 20,335 shares during the period. 50.39% of the stock is owned by institutional investors.

Campbell Soup Company Profile

(Get Rating)

Campbell Soup Co engages in the business of manufacturing and marketing food and beverage products. It operates under the Meals and Beverages, and Snacks segments. The Meals and Beverages segment includes soup, meals, and beverage products in retail and foodservice. The Snacks segment offers cookies, crackers, bakery, and frozen products.

Analyst Recommendations for Campbell Soup (NYSE:CPB)

Receive News & Ratings for Campbell Soup Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Campbell Soup and related companies with MarketBeat.com's FREE daily email newsletter.