Campbell’s (NASDAQ:CPB) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen cut shares of Campbell’s (NASDAQ:CPB) from a hold rating to a sell rating in a report issued on Saturday,Wall Street Zen reports.

Several other brokerages have also commented on CPB. UBS Group increased their price target on shares of Campbell’s from $18.00 to $19.00 and gave the company a “sell” rating in a research note on Friday. DA Davidson upgraded shares of Campbell’s to a “hold” rating in a report on Monday, July 6th. Weiss Ratings upgraded shares of Campbell’s from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, August 31st. TD Cowen increased their target price on shares of Campbell’s from $20.00 to $22.00 and gave the company a “hold” rating in a research report on Wednesday, August 19th. Finally, William Blair began coverage on shares of Campbell’s in a research note on Tuesday, June 23rd. They set a “market perform” rating on the stock. Thirteen equities research analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $19.94.

Campbell’s Trading Down 3.4%

NASDAQ:CPB opened at $21.38 on Friday. The stock has a 50-day simple moving average of $22.73 and a 200-day simple moving average of $22.35. The stock has a market cap of $6.38 billion, a P/E ratio of 16.32, a P/E/G ratio of 2.46 and a beta of 0.03. Campbell’s has a 1 year low of $19.56 and a 1 year high of $34.17. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.38 and a current ratio of 0.82.

Campbell’s (NASDAQ:CPB) last issued its earnings results on Thursday, September 3rd. The company reported $0.39 earnings per share for the quarter, hitting the consensus estimate of $0.39. The business had revenue of $2.14 billion for the quarter. Campbell’s had a return on equity of 16.44% and a net margin of 4.04%.Campbell’s’s revenue was down 7.9% on a year-over-year basis. During the same period last year, the business posted $0.62 EPS. Campbell’s has set its FY 2027 guidance at 1.650-1.800 EPS. As a group, analysts anticipate that Campbell’s will post 1.71 earnings per share for the current fiscal year.

Campbell’s Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 1st will be paid a $0.25 dividend. The ex-dividend date is Thursday, October 1st. This represents a $1.00 dividend on an annualized basis and a yield of 4.7%. Campbell’s’s payout ratio is currently 77.23%.

Institutional Investors Weigh In On Campbell’s

Several large investors have recently modified their holdings of CPB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Campbell’s by 3.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,472 shares of the company’s stock valued at $777,000 after acquiring an additional 685 shares during the period. Goldman Sachs Group Inc. boosted its stake in Campbell’s by 4.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 660,543 shares of the company’s stock worth $26,369,000 after purchasing an additional 27,374 shares during the period. Empowered Funds LLC acquired a new stake in Campbell’s during the 1st quarter worth $446,000. Woodline Partners LP grew its position in Campbell’s by 40.9% during the 1st quarter. Woodline Partners LP now owns 16,623 shares of the company’s stock worth $664,000 after purchasing an additional 4,827 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its position in Campbell’s by 333.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 975 shares of the company’s stock worth $39,000 after purchasing an additional 750 shares during the last quarter. 52.35% of the stock is owned by institutional investors and hedge funds.

Key Campbell’s News

Here are the key news stories impacting Campbell’s this week:

• Positive Sentiment: Management announced a plan targeting approximately $500 million in savings, including workforce reductions and other cost actions. The initiative is intended to repair margins and accelerate debt reduction. Campbell’s slashes 13% of salaried workforce as part of $500M cost-cutting plan
• Positive Sentiment: Campbell’s plans to discuss its business and outlook at a Barclays Global Consumer Staples Conference fireside chat on September 9, giving investors an opportunity to hear more about the turnaround strategy. Campbell’s Barclays conference announcement

About Campbell’s

Campbell’s (NASDAQ: CPB) is a leading manufacturer of shelf-stable foods and beverages, best known for its iconic soups and broths. Headquartered in Camden, New Jersey, the company offers a diverse portfolio of products designed to meet consumer demand for convenient, affordable meals and snacks. Since its founding in 1869, Campbell’s has grown through a combination of organic innovation and strategic acquisitions to expand its presence in the food industry.

The company’s brand portfolio includes Campbell’s Condensed Soups, V8 juices, Prego pasta sauces, Swanson broths and stocks, Pace salsas and dips, and Pepperidge Farm baked snacks.