Campbell Soup (NYSE:CPB) Price Target Cut to $49.00 by Analysts at Royal Bank of Canada

Posted by Defense World Staff on Jun 9th, 2023

Campbell Soup (NYSE:CPB – Get Rating) had its price target trimmed by Royal Bank of Canada from $50.00 to $49.00 in a research report sent to investors on Thursday morning, The Fly reports.

CPB has been the subject of a number of other reports. StockNews.com assumed coverage on Campbell Soup in a research note on Thursday, May 18th. They set a buy rating for the company. Credit Suisse Group increased their target price on Campbell Soup from $50.00 to $51.00 and gave the stock a neutral rating in a research note on Thursday, March 9th. Stifel Nicolaus lowered their target price on Campbell Soup from $55.00 to $51.00 in a research note on Thursday. Piper Sandler decreased their price target on shares of Campbell Soup from $55.00 to $52.00 in a research note on Thursday. Finally, Bank of America decreased their price target on shares of Campbell Soup from $51.00 to $49.00 in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to MarketBeat, Campbell Soup has an average rating of Hold and a consensus price target of $51.00.

Campbell Soup Stock Performance

Campbell Soup stock opened at $46.77 on Thursday. The company has a current ratio of 0.77, a quick ratio of 0.31 and a debt-to-equity ratio of 1.11. Campbell Soup has a 1 year low of $44.37 and a 1 year high of $57.78. The company has a market cap of $14.01 billion, a PE ratio of 17.32, a PEG ratio of 4.38 and a beta of 0.36. The company’s 50-day moving average is $53.42 and its two-hundred day moving average is $53.67.

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

Campbell Soup Dividend Announcement

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

Institutional Investors Weigh In On Campbell Soup

Several hedge funds have recently added to or reduced their stakes in the business. Perigon Wealth Management LLC grew its holdings in shares of Campbell Soup by 1.8% during the first quarter. Perigon Wealth Management LLC now owns 11,215 shares of the company’s stock valued at $617,000 after buying an additional 193 shares during the last quarter. Pathstone Family Office LLC grew its holdings in shares of Campbell Soup by 0.8% during the fourth quarter. Pathstone Family Office LLC now owns 25,351 shares of the company’s stock valued at $1,439,000 after buying an additional 199 shares during the last quarter. Wesbanco Bank Inc. boosted its holdings in Campbell Soup by 3.8% during the fourth quarter. Wesbanco Bank Inc. now owns 5,444 shares of the company’s stock worth $309,000 after purchasing an additional 200 shares during the last quarter. Vantage Consulting Group Inc grew its position in Campbell Soup by 5.1% in the 1st quarter. Vantage Consulting Group Inc now owns 4,157 shares of the company’s stock worth $229,000 after purchasing an additional 200 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its position in shares of Campbell Soup by 0.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 45,001 shares of the company’s stock worth $2,553,000 after buying an additional 213 shares in the last quarter. Institutional investors and hedge funds own 50.39% of the company’s stock.

About Campbell Soup

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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.