Campbell Soup (CPB) To Go Ex-Dividend on October 4th

Posted by Defense World Staff on Oct 2nd, 2023

Campbell Soup (NYSE:CPB – Get Free Report) declared a quarterly dividend on Wednesday, September 20th, RTT News reports. Shareholders of record on Thursday, October 5th will be paid a dividend of 0.37 per share on Monday, October 30th. This represents a $1.48 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend is Wednesday, October 4th.

Campbell Soup has increased its dividend by an average of 1.9% per year over the last three years. Campbell Soup has a payout ratio of 48.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Campbell Soup to earn $3.26 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 45.4%.

Campbell Soup Stock Down 0.4 %

NYSE CPB opened at $41.08 on Monday. The business’s fifty day simple moving average is $43.10 and its 200-day simple moving average is $48.20. The company has a quick ratio of 0.35, a current ratio of 0.93 and a debt-to-equity ratio of 1.23. The firm has a market cap of $12.24 billion, a PE ratio of 14.36, a P/E/G ratio of 3.24 and a beta of 0.34. Campbell Soup has a 52 week low of $40.76 and a 52 week high of $57.78.

Campbell Soup (NYSE:CPB – Get Free Report) last posted its earnings results on Thursday, August 31st. The company reported $0.50 earnings per share for the quarter, hitting the consensus estimate of $0.50. Campbell Soup had a return on equity of 25.14% and a net margin of 9.17%. The firm had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter in the previous year, the business earned $0.56 earnings per share. The firm’s revenue was up 5.7% compared to the same quarter last year. As a group, equities analysts anticipate that Campbell Soup will post 3.06 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Stanley Polomski sold 8,000 shares of the stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $43.35, for a total value of $346,800.00. Following the completion of the sale, the vice president now owns 33,162 shares in the company, valued at $1,437,572.70. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 21.05% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Campbell Soup

A number of large investors have recently modified their holdings of CPB. Nuveen Asset Management LLC lifted its holdings in Campbell Soup by 3.5% during the 2nd quarter. Nuveen Asset Management LLC now owns 598,517 shares of the company’s stock worth $27,358,000 after buying an additional 20,386 shares during the last quarter. GTS Securities LLC acquired a new position in shares of Campbell Soup during the 2nd quarter valued at $2,049,000. West Family Investments Inc. acquired a new position in shares of Campbell Soup in the 2nd quarter worth $294,000. Wells Fargo & Company MN grew its holdings in shares of Campbell Soup by 1.8% in the 2nd quarter. Wells Fargo & Company MN now owns 247,580 shares of the company’s stock worth $11,317,000 after acquiring an additional 4,451 shares during the last quarter. Finally, State of Tennessee Treasury Department grew its holdings in shares of Campbell Soup by 54.5% in the 2nd quarter. State of Tennessee Treasury Department now owns 225,197 shares of the company’s stock worth $10,294,000 after acquiring an additional 79,400 shares during the last quarter. Institutional investors and hedge funds own 50.73% of the company’s stock.

Wall Street Analyst Weigh In

CPB has been the topic of a number of recent analyst reports. Jefferies Financial Group dropped their price objective on Campbell Soup from $49.00 to $46.00 and set a “hold” rating on the stock in a report on Tuesday, August 22nd. Piper Sandler lowered their target price on Campbell Soup from $52.00 to $50.00 in a report on Monday, June 26th. JPMorgan Chase & Co. lowered their target price on Campbell Soup from $49.00 to $47.00 and set a “neutral” rating on the stock in a report on Monday, August 21st. The Goldman Sachs Group lowered their target price on Campbell Soup from $44.00 to $40.00 and set a “sell” rating on the stock in a report on Tuesday, August 22nd. Finally, 888 reissued a “maintains” rating on shares of Campbell Soup in a report on Monday, June 26th. Four research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $47.21.

View Our Latest Report on Campbell Soup

Campbell Soup Company Profile

(Get Free Report)

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.