Citigroup Boosts Campbell Soup (NYSE:CPB) Price Target to $42.00

Campbell Soup (NYSE:CPB) had its price objective raised by Citigroup from $41.00 to $42.00 in a report issued on Thursday morning, Benzinga reports. They currently have a sell rating on the stock.

Other analysts also recently issued research reports about the company. JPMorgan Chase & Co. raised their price target on Campbell Soup from $47.00 to $48.00 and gave the stock a neutral rating in a report on Friday, March 1st. Piper Sandler reiterated a neutral rating and issued a $47.00 target price on shares of Campbell Soup in a research note on Tuesday, March 26th. Sanford C. Bernstein upgraded shares of Campbell Soup from an underperform rating to a market perform rating and upped their price target for the stock from $42.00 to $46.00 in a research report on Wednesday, May 15th. DA Davidson initiated coverage on shares of Campbell Soup in a report on Friday, March 1st. They issued a buy rating and a $48.00 price objective on the stock. Finally, Evercore ISI assumed coverage on shares of Campbell Soup in a research note on Wednesday, March 13th. They set an in-line rating and a $49.00 target price for the company. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and an average price target of $46.41.

Campbell Soup Stock Performance

Shares of CPB opened at $45.34 on Thursday. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.01 and a quick ratio of 0.43. Campbell Soup has a 12-month low of $37.94 and a 12-month high of $52.12. The business’s fifty day moving average price is $44.60 and its 200 day moving average price is $43.34. The stock has a market capitalization of $13.52 billion, a PE ratio of 17.71, a price-to-earnings-growth ratio of 2.96 and a beta of 0.23.

Campbell Soup (NYSE:CPB) last posted its quarterly earnings results on Wednesday, March 6th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The company had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.44 billion. Campbell Soup had a net margin of 8.26% and a return on equity of 23.18%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period last year, the firm posted $0.80 EPS. Equities research analysts forecast that Campbell Soup will post 3.05 EPS for the current year.

Campbell Soup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Stockholders of record on Wednesday, July 3rd will be paid a $0.37 dividend. The ex-dividend date is Wednesday, July 3rd. This represents a $1.48 annualized dividend and a dividend yield of 3.26%. Campbell Soup’s dividend payout ratio is currently 57.81%.

Institutional Trading of Campbell Soup

Several institutional investors and hedge funds have recently added to or reduced their stakes in CPB. Van ECK Associates Corp increased its holdings in shares of Campbell Soup by 16.6% in the first quarter. Van ECK Associates Corp now owns 8,548,557 shares of the company’s stock valued at $379,983,000 after buying an additional 1,219,301 shares in the last quarter. Invesco Ltd. raised its position in shares of Campbell Soup by 6.8% during the third quarter. Invesco Ltd. now owns 5,035,674 shares of the company’s stock worth $206,865,000 after purchasing an additional 318,983 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Campbell Soup by 21.2% during the first 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 during the last quarter. Norges Bank acquired a new position in shares of Campbell Soup in the 4th quarter valued at $125,689,000. Finally, Northern Trust Corp increased its stake in Campbell Soup by 4.7% in the 3rd quarter. Northern Trust Corp now owns 2,845,931 shares of the company’s stock worth $116,911,000 after purchasing an additional 127,574 shares in the last quarter. 52.35% of the stock is owned by institutional investors and hedge funds.

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.