Campbell Soup (NYSE:CPB) Price Target Lowered to $50.00 at Barclays

Posted by Defense World Staff on Jun 9th, 2023

Campbell Soup (NYSE:CPB – Get Rating) had its price objective reduced by Barclays from $53.00 to $50.00 in a research note issued to investors on Thursday morning, The Fly reports.

A number of other equities analysts also recently commented on CPB. Stifel Nicolaus began coverage on shares of Campbell Soup in a research report on Thursday, April 13th. They set a hold rating and a $55.00 price objective for the company. Royal Bank of Canada reiterated a sector perform rating and issued a $50.00 price target on shares of Campbell Soup in a report on Thursday, March 9th. JPMorgan Chase & Co. increased their target price on shares of Campbell Soup from $53.00 to $55.00 and gave the company a neutral rating in a report on Thursday, March 9th. Bank of America boosted their price target on Campbell Soup from $50.00 to $51.00 in a research note on Thursday, March 9th. Finally, StockNews.com initiated coverage on Campbell Soup in a research report on Thursday, May 18th. They issued a buy rating for the company. Two investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $51.00.

Campbell Soup Trading Up 1.5 %

CPB opened at $46.77 on Thursday. The company has a quick ratio of 0.31, a current ratio of 0.77 and a debt-to-equity ratio of 1.11. Campbell Soup has a 52 week low of $44.37 and a 52 week high of $57.78. The business’s 50 day moving average is $53.42 and its two-hundred day moving average is $53.67. The firm has a market cap of $14.01 billion, a price-to-earnings ratio of 17.32, a price-to-earnings-growth ratio of 4.38 and a beta of 0.36.

Campbell Soup (NYSE:CPB – Get Rating) last issued its quarterly earnings results on Wednesday, June 7th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. The firm had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.23 billion. Campbell Soup had a net margin of 8.86% and a return on equity of 26.97%. Campbell Soup’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.70 EPS. On average, research analysts predict that Campbell Soup will post 3.01 EPS for the current year.

Campbell Soup Dividend Announcement

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

Institutional Trading of Campbell Soup

A number of hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Campbell Soup during the 4th quarter worth about $164,197,000. Envestnet Asset Management Inc. increased its position in Campbell Soup by 3,894.4% during the first quarter. Envestnet Asset Management Inc. now owns 2,308,585 shares of the company’s stock worth $3,114,000 after purchasing an additional 2,250,789 shares during the last quarter. State Street Corp raised its stake in Campbell Soup by 16.8% during the first quarter. State Street Corp now owns 12,182,043 shares of the company’s stock worth $542,954,000 after purchasing an additional 1,749,650 shares during the period. Morgan Stanley boosted its holdings in shares of Campbell Soup by 66.9% in the 4th quarter. Morgan Stanley now owns 3,512,543 shares of the company’s stock valued at $199,337,000 after purchasing an additional 1,408,175 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Campbell Soup by 6.3% during the 1st quarter. Vanguard Group Inc. now owns 23,259,524 shares of the company’s stock valued at $1,036,678,000 after buying an additional 1,387,605 shares during the period. 50.39% of the stock is owned by institutional investors and hedge funds.

Campbell Soup Company Profile

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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.

Analyst Recommendations for Campbell Soup (NYSE:CPB)

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