Campbell Soup (NASDAQ:CPB) Upgraded by Piper Sandler to Overweight Rating

Piper Sandler upgraded shares of Campbell Soup (NASDAQ:CPB) from a neutral rating to an overweight rating in a research report report published on Thursday, MarketBeat.com reports. They currently have $56.00 target price on the stock, up from their prior target price of $47.00.

Several other research analysts have also recently commented on the stock. TD Cowen raised their target price on shares of Campbell Soup from $47.00 to $51.00 and gave the stock a “hold” rating in a report on Thursday, September 12th. JPMorgan Chase & Co. raised their target price on Campbell Soup from $55.00 to $57.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 11th. Argus raised Campbell Soup from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research note on Friday, September 20th. Barclays upped their price objective on shares of Campbell Soup from $45.00 to $49.00 and gave the company an “underweight” rating in a research note on Thursday, September 12th. Finally, Wells Fargo & Company increased their price objective on Campbell Soup from $49.00 to $51.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $51.58.

Campbell Soup Stock Performance

CPB traded down $1.33 during trading hours on Thursday, hitting $43.12. The company’s stock had a trading volume of 2,619,903 shares, compared to its average volume of 2,519,742. The company has a 50-day simple moving average of $48.26 and a 200 day simple moving average of $47.08. The company has a current ratio of 0.61, a quick ratio of 0.22 and a debt-to-equity ratio of 1.52. The firm has a market capitalization of $12.83 billion, a PE ratio of 23.52, a PEG ratio of 2.64 and a beta of 0.19. Campbell Soup has a fifty-two week low of $39.65 and a fifty-two week high of $52.81.

Campbell Soup (NASDAQ:CPB) last issued its quarterly earnings results on Thursday, August 29th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. Campbell Soup had a return on equity of 24.08% and a net margin of 5.88%. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period last year, the company posted $0.50 EPS. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. As a group, sell-side analysts expect that Campbell Soup will post 3.2 EPS for the current year.

Campbell Soup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Thursday, October 3rd were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.43%. The ex-dividend date was Thursday, October 3rd. Campbell Soup’s dividend payout ratio (DPR) is presently 78.31%.

Institutional Trading of Campbell Soup

Institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in Campbell Soup in the second quarter valued at about $32,000. nVerses Capital LLC acquired a new stake in shares of Campbell Soup in the 3rd quarter valued at approximately $34,000. Ashton Thomas Securities LLC acquired a new position in Campbell Soup during the 3rd quarter worth approximately $39,000. TruNorth Capital Management LLC bought a new position in Campbell Soup in the 2nd quarter valued at approximately $44,000. Finally, Rothschild Investment LLC acquired a new position in shares of Campbell Soup during the second quarter worth $44,000. Institutional investors own 52.35% of the company’s stock.

Campbell Soup Company Profile

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.