Campbell Soup (NYSE:CPB) Lifted to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Campbell Soup (NYSE:CPB) from a neutral rating to an overweight rating in a research note released on Wednesday morning, MarketBeat reports. JPMorgan Chase & Co. currently has $52.00 price target on the stock, up from their prior price target of $45.00.

A number of other brokerages have also recently issued reports on CPB. Citigroup increased their price objective on shares of Campbell Soup from $41.00 to $42.00 and gave the company a sell rating in a research note on Thursday, May 23rd. Piper Sandler restated a neutral rating and set a $47.00 price target on shares of Campbell Soup in a research note on Tuesday, March 26th. Wells Fargo & Company upped their price objective on Campbell Soup from $45.00 to $47.00 and gave the company an equal weight rating in a research note on Friday, June 7th. Royal Bank of Canada restated a sector perform rating and set a $47.00 target price on shares of Campbell Soup in a research report on Friday, June 7th. Finally, Evercore ISI initiated coverage on Campbell Soup in a research report on Wednesday, March 13th. They issued an in-line rating and a $49.00 price target on the stock. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $46.56.

Campbell Soup Stock Up 0.4 %

CPB stock opened at $45.19 on Wednesday. Campbell Soup has a twelve month low of $37.94 and a twelve month high of $46.97. The company has a quick ratio of 0.24, a current ratio of 0.62 and a debt-to-equity ratio of 1.47. The company has a market cap of $13.49 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 2.90 and a beta of 0.19. The business’s 50-day simple moving average is $44.90 and its 200 day simple moving average is $43.88.

Campbell Soup (NYSE:CPB) last announced its quarterly earnings data on Wednesday, June 5th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.05. The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.34 billion. Campbell Soup had a return on equity of 23.26% and a net margin of 7.85%. Campbell Soup’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.68 EPS. On average, research analysts anticipate that Campbell Soup will post 3.08 earnings per share for the current year.

Campbell Soup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Wednesday, July 3rd will be given a $0.37 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.48 annualized dividend and a yield of 3.28%. Campbell Soup’s dividend payout ratio is presently 59.92%.

Institutional Trading of Campbell Soup

Hedge funds and other institutional investors have recently made changes to their positions in the company. Kestra Advisory Services LLC increased its position in Campbell Soup by 117.8% in the 3rd quarter. Kestra Advisory Services LLC now owns 16,434 shares of the company’s stock valued at $675,000 after acquiring an additional 8,890 shares during the period. Envestnet Asset Management Inc. increased its holdings in Campbell Soup by 0.4% in the third quarter. Envestnet Asset Management Inc. now owns 108,058 shares of the company’s stock valued at $4,439,000 after purchasing an additional 443 shares during the period. Stifel Financial Corp raised its position in Campbell Soup by 0.4% during the 3rd quarter. Stifel Financial Corp now owns 63,321 shares of the company’s stock worth $2,601,000 after purchasing an additional 261 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Campbell Soup by 31.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 9,876 shares of the company’s stock valued at $406,000 after buying an additional 2,343 shares during the last quarter. Finally, Bank of Nova Scotia lifted its stake in shares of Campbell Soup by 512.5% in the third quarter. Bank of Nova Scotia now owns 170,613 shares of the company’s stock worth $7,009,000 after acquiring an additional 142,758 shares during the period. 52.35% of the stock is currently owned by institutional investors.

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.