Campbell’s (NASDAQ:CPB) Upgraded at Argus

Argus upgraded shares of Campbell’s (NASDAQ:CPB) to a hold rating in a research report sent to investors on Wednesday morning,Zacks reports.

A number of other brokerages have also recently weighed in on CPB. William Blair started coverage on shares of Campbell’s in a research report on Tuesday, June 23rd. They set a “market perform” rating on the stock. TD Cowen upped their price objective on shares of Campbell’s from $20.00 to $22.00 and gave the company a “hold” rating in a research report on Wednesday, August 19th. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $19.00 price objective (down from $21.00) on shares of Campbell’s in a research note on Tuesday, June 9th. Weiss Ratings upgraded Campbell’s from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, August 31st. Finally, Royal Bank Of Canada decreased their target price on Campbell’s from $21.00 to $19.00 and set a “sector perform” rating for the company in a research note on Friday, September 4th. Thirteen analysts have rated the stock with a Hold rating and seven have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $19.88.

Campbell’s Price Performance

Campbell’s stock opened at $19.62 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.33 and a debt-to-equity ratio of 1.60. The firm has a market capitalization of $5.85 billion, a P/E ratio of 14.98, a PEG ratio of 2.29 and a beta of 0.06. The business has a 50-day moving average of $22.02 and a 200-day moving average of $21.61. Campbell’s has a 1 year low of $19.10 and a 1 year high of $32.08.

Campbell’s (NASDAQ:CPB) last announced its quarterly earnings results on Thursday, September 3rd. The company reported $0.39 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.39. The business had revenue of $2.14 billion for the quarter. Campbell’s had a net margin of 4.04% and a return on equity of 16.44%. The business’s revenue was down 7.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.62 earnings per share. Campbell’s has set its FY 2027 guidance at 1.650-1.800 EPS. On average, equities analysts anticipate that Campbell’s will post 1.7 EPS for the current year.

Campbell’s Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Thursday, October 1st will be given a dividend of $0.25 per share. This is a negative change from Campbell’s’s previous quarterly dividend of $0.39. This represents a $1.00 annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend is Thursday, October 1st. Campbell’s’s payout ratio is currently 76.34%.

Institutional Investors Weigh In On Campbell’s

Several institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc lifted its holdings in shares of Campbell’s by 57.6% in the third quarter. Versant Capital Management Inc now owns 3,893 shares of the company’s stock valued at $77,000 after purchasing an additional 1,423 shares in the last quarter. MAC Alpha Capital Management LP grew its holdings in shares of Campbell’s by 25.4% during the second quarter. MAC Alpha Capital Management LP now owns 284,545 shares of the company’s stock worth $6,337,000 after buying an additional 57,631 shares in the last quarter. Core Capital Management & Research inc. bought a new position in shares of Campbell’s during the second quarter worth about $323,000. Sequoia Financial Advisors LLC bought a new position in shares of Campbell’s during the second quarter worth about $388,000. Finally, Tidal Investments LLC raised its position in Campbell’s by 19.1% in the 2nd quarter. Tidal Investments LLC now owns 191,257 shares of the company’s stock valued at $4,259,000 after buying an additional 30,637 shares during the last quarter. 52.35% of the stock is owned by institutional investors.

About Campbell’s

Campbell’s, formerly known as Campbell Soup Company, is a packaged food and beverage company headquartered in Camden, New Jersey. Founded in 1869, the company is best known for its soups and has expanded into a broad portfolio of branded meals, sauces, snacks and beverages.

Its meals and beverages portfolio includes Campbell’s soups, Swanson broths and stocks, Prego pasta sauces, V8 vegetable beverages, Pace Mexican-style sauces and Rao’s sauces and meals. The company also sells snack products through brands such as Goldfish, Pepperidge Farm, Lance, Late July and Snyder’s of Hanover.

Campbell’s primarily serves consumers in the United States and Canada through grocery stores, mass merchants, club stores, convenience retailers, foodservice distributors and e-commerce channels.