Brokerages Set Campbell Soup (NYSE:CPB) Target Price at $46.56

Shares of Campbell Soup (NYSE:CPB) have earned an average recommendation of “Hold” from the fifteen analysts that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $46.56.

A number of research firms have weighed in on CPB. JPMorgan Chase & Co. raised shares of Campbell Soup from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $45.00 to $52.00 in a report on Wednesday, June 26th. DA Davidson boosted their price target on shares of Campbell Soup from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Evercore ISI initiated coverage on Campbell Soup in a report on Wednesday, March 13th. They set an “in-line” rating and a $49.00 price objective on the stock. Piper Sandler reissued a “neutral” rating and issued a $47.00 target price on shares of Campbell Soup in a report on Tuesday, March 26th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $47.00 price target on shares of Campbell Soup in a research report on Friday, June 7th.

Hedge Funds Weigh In On Campbell Soup

Several institutional investors and hedge funds have recently added to or reduced their stakes in CPB. Van ECK Associates Corp grew its holdings in Campbell Soup by 16.6% during the first quarter. Van ECK Associates Corp now owns 8,548,557 shares of the company’s stock worth $379,983,000 after acquiring an additional 1,219,301 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Campbell Soup by 21.2% in the 1st quarter. Bank of New York Mellon Corp now owns 3,315,516 shares of the company’s stock valued at $147,375,000 after purchasing an additional 580,411 shares in the last quarter. Norges Bank acquired a new stake in shares of Campbell Soup in the fourth quarter valued at about $125,689,000. Charles Schwab Investment Management Inc. boosted its holdings in Campbell Soup by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,688,669 shares of the company’s stock worth $73,001,000 after buying an additional 49,663 shares in the last quarter. Finally, Deutsche Bank AG grew its position in Campbell Soup by 62.3% during the third quarter. Deutsche Bank AG now owns 1,453,612 shares of the company’s stock worth $59,714,000 after buying an additional 557,948 shares during the period. Institutional investors and hedge funds own 52.35% of the company’s stock.

Campbell Soup Stock Performance

Shares of CPB stock opened at $45.01 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.24 and a debt-to-equity ratio of 1.47. The firm has a fifty day moving average price of $44.90 and a 200 day moving average price of $43.90. The company has a market cap of $13.44 billion, a P/E ratio of 18.22, a PEG ratio of 2.88 and a beta of 0.16. Campbell Soup has a 12 month low of $37.94 and a 12 month high of $46.97.

Campbell Soup (NYSE:CPB) last released its quarterly earnings data on Wednesday, June 5th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.05. Campbell Soup had a return on equity of 23.26% and a net margin of 7.85%. The business had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same period in the prior year, the firm posted $0.68 EPS. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. Sell-side analysts predict that Campbell Soup will post 3.08 earnings per share for the current fiscal year.

Campbell Soup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Wednesday, July 3rd will be given a $0.37 dividend. The ex-dividend date is Wednesday, July 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 3.29%. Campbell Soup’s payout ratio is currently 59.92%.

About Campbell Soup

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.