Campbell Soup (NYSE:CPB) Given New $46.00 Price Target at Credit Suisse Group

Campbell Soup (NYSE:CPB) had its price objective lowered by Credit Suisse Group from $47.00 to $46.00 in a research report report published on Thursday morning, PriceTargets.com reports. Credit Suisse Group currently has a neutral rating on the stock.

CPB has been the topic of several other reports. Deutsche Bank Aktiengesellschaft lowered their price target on Campbell Soup from $52.00 to $50.00 and set a hold rating on the stock in a report on Thursday, February 25th. Morgan Stanley lowered their price target on Campbell Soup from $50.00 to $48.00 and set an equal weight rating on the stock in a report on Thursday. Jefferies Financial Group cut Campbell Soup from a buy rating to a hold rating and set a $54.00 price target on the stock. in a report on Monday, May 24th. Finally, Piper Sandler lowered their price target on Campbell Soup from $57.00 to $51.00 and set an overweight rating on the stock in a report on Thursday. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $49.70.

Shares of CPB opened at $45.72 on Thursday. The company’s fifty day simple moving average is $48.88. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.71. Campbell Soup has a 12 month low of $44.53 and a 12 month high of $54.08. The stock has a market cap of $13.85 billion, a P/E ratio of 17.25, a price-to-earnings-growth ratio of 5.90 and a beta of 0.58.

Campbell Soup (NYSE:CPB) last issued its earnings results on Tuesday, June 8th. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.09). Campbell Soup had a net margin of 9.01% and a return on equity of 37.35%. The business had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the prior year, the business posted $0.83 earnings per share. The business’s revenue for the quarter was down 11.3% on a year-over-year basis. Equities analysts expect that Campbell Soup will post 3.07 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 2nd. Investors of record on Wednesday, July 14th will be issued a $0.37 dividend. The ex-dividend date is Tuesday, July 13th. This represents a $1.48 dividend on an annualized basis and a yield of 3.24%. Campbell Soup’s dividend payout ratio is currently 50.17%.

In related news, EVP Craig Slavtcheff sold 7,000 shares of the firm’s stock in a transaction on Wednesday, March 17th. The stock was sold at an average price of $48.88, for a total value of $342,160.00. Following the transaction, the executive vice president now directly owns 36,810 shares of the company’s stock, valued at approximately $1,799,272.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 35.64% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in Campbell Soup by 3.5% during the first quarter. BlackRock Inc. now owns 16,494,993 shares of the company’s stock valued at $829,203,000 after acquiring an additional 563,048 shares during the period. Brandywine Trust Co. grew its position in shares of Campbell Soup by 6.2% during the first quarter. Brandywine Trust Co. now owns 4,256,948 shares of the company’s stock valued at $213,997,000 after purchasing an additional 250,000 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Campbell Soup by 467.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,867,259 shares of the company’s stock valued at $194,407,000 after purchasing an additional 3,186,269 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Campbell Soup by 2.8% during the first quarter. Geode Capital Management LLC now owns 3,380,351 shares of the company’s stock valued at $169,490,000 after purchasing an additional 92,018 shares in the last quarter. Finally, American International Group Inc. grew its position in shares of Campbell Soup by 1,077.1% during the fourth quarter. American International Group Inc. now owns 3,359,928 shares of the company’s stock valued at $162,453,000 after purchasing an additional 3,074,482 shares in the last quarter. 52.92% of the stock is currently owned by institutional investors and hedge funds.

Campbell Soup Company Profile

Campbell Soup Company, together with its subsidiaries, engages in the manufacture and market food and beverage products. It operates through Meals & Beverages and Snacks segments. The Meals & Beverages segment engages in the retail and foodservice businesses in the United States and Canada. This segment provides Campbell's condensed and ready-to-serve soups; Swanson broth and stocks; Pacific Foods broth, soups, and non-dairy beverages; Prego pasta sauces; Pace Mexican sauces; Campbell's gravies, pasta, beans, and dinner sauces; Swanson canned poultry; Plum baby food and snacks; V8 juices and beverages; V8 juices and beverages; and Campbell's tomato juice.

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Analyst Recommendations for Campbell Soup (NYSE:CPB)

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