Campbell Soup (CPB) Given Consensus Rating of “Hold” by Analysts
Shares of Campbell Soup (NYSE:CPB) have been assigned an average rating of “Hold” from the seventeen ratings firms that are presently covering the stock, MarketBeat.com reports. Nine research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $37.10.
Several research analysts recently commented on CPB shares. Zacks Investment Research reiterated a “buy” rating and issued a $42.00 price target on shares of Campbell Soup in a research report on Monday, December 31st. ValuEngine cut Campbell Soup from a “hold” rating to a “sell” rating in a research note on Wednesday, January 2nd. Wells Fargo & Co restated a “hold” rating on shares of Campbell Soup in a research report on Wednesday, January 16th. Finally, Bank of America set a $30.00 price objective on Campbell Soup and gave the company a “sell” rating in a research note on Thursday, February 28th.
Several hedge funds have recently added to or reduced their stakes in CPB. Third Point LLC grew its stake in shares of Campbell Soup by 16.7% during the fourth quarter. Third Point LLC now owns 21,000,000 shares of the company’s stock valued at $692,790,000 after buying an additional 3,000,000 shares during the last quarter. Vanguard Group Inc boosted its holdings in Campbell Soup by 1.1% during the 3rd quarter. Vanguard Group Inc now owns 20,757,540 shares of the company’s stock valued at $760,348,000 after acquiring an additional 221,311 shares during the period. BlackRock Inc. grew its position in Campbell Soup by 3.1% in the 4th quarter. BlackRock Inc. now owns 14,816,506 shares of the company’s stock valued at $488,794,000 after acquiring an additional 440,312 shares during the last quarter. Bank of New York Mellon Corp grew its position in Campbell Soup by 7.1% in the 4th quarter. Bank of New York Mellon Corp now owns 6,723,599 shares of the company’s stock valued at $221,812,000 after acquiring an additional 446,435 shares during the last quarter. Finally, Beutel Goodman & Co Ltd. grew its position in Campbell Soup by 0.6% in the 4th quarter. Beutel Goodman & Co Ltd. now owns 2,846,190 shares of the company’s stock valued at $6,880,000 after acquiring an additional 18,302 shares during the last quarter. 52.55% of the stock is owned by hedge funds and other institutional investors.
Campbell Soup (NYSE:CPB) last posted its earnings results on Wednesday, February 27th. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.07. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. Campbell Soup had a negative net margin of 1.68% and a positive return on equity of 55.51%. The business’s quarterly revenue was up 24.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.00 EPS. Research analysts anticipate that Campbell Soup will post 2.48 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 29th. Stockholders of record on Thursday, April 11th will be issued a $0.35 dividend. The ex-dividend date is Wednesday, April 10th. This represents a $1.40 annualized dividend and a dividend yield of 3.55%. Campbell Soup’s dividend payout ratio (DPR) is presently 48.78%.
About Campbell Soup
Campbell Soup Company, together with its subsidiaries, manufactures and markets branded food and beverage products. It operates through three segments: Americas Simple Meals and Beverages, Global Biscuits and Snacks, and Campbell Fresh. The Americas Simple Meals and Beverages segment engages in the retail and food service of Campbell's condensed and ready-to-serve soups; Swanson broth and stocks; Prego pasta sauces; Pace Mexican sauces; Campbell's gravies, pastas, beans, and dinner sauces; Swanson canned poultry products; Plum food and snack products; V8 juices and beverages; Campbell's tomato juices; and Pacific broth, soups, non-dairy beverages, and other simple meals.
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