Campbell Soup (NYSE:CPB) Now Covered by Evercore ISI

Evercore ISI assumed coverage on shares of Campbell Soup (NYSE:CPBFree Report) in a research report report published on Wednesday morning, StockNewsAPI reports. The brokerage issued an in-line rating and a $49.00 price objective on the stock.

CPB has been the subject of a number of other research reports. Citigroup started coverage on Campbell Soup in a report on Thursday, February 1st. They set a sell rating and a $41.00 target price for the company. Piper Sandler upped their price objective on shares of Campbell Soup from $44.00 to $47.00 and gave the company a neutral rating in a report on Thursday, December 7th. Wells Fargo & Company assumed coverage on shares of Campbell Soup in a report on Tuesday, December 12th. They set an equal weight rating and a $47.00 price target for the company. TheStreet upgraded Campbell Soup from a c+ rating to a b- rating in a report on Wednesday, January 3rd. Finally, DA Davidson began coverage on Campbell Soup in a report on Friday, March 1st. They set a buy rating and a $48.00 target price for the company. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $46.38.

Read Our Latest Research Report on CPB

Campbell Soup Trading Up 1.8 %

NYSE:CPB opened at $42.71 on Wednesday. The firm has a 50 day moving average of $43.11 and a 200 day moving average of $42.08. The company has a quick ratio of 0.43, a current ratio of 1.01 and a debt-to-equity ratio of 1.17. Campbell Soup has a 52 week low of $37.94 and a 52 week high of $56.04. The stock has a market capitalization of $12.73 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 3.20 and a beta of 0.24.

Campbell Soup (NYSE:CPBGet Free Report) last issued its quarterly earnings results on Wednesday, March 6th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. Campbell Soup had a net margin of 8.26% and a return on equity of 23.18%. The business had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the prior year, the business posted $0.80 EPS. Campbell Soup’s revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Campbell Soup will post 3.07 earnings per share for the current fiscal year.

Campbell Soup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 29th. Shareholders of record on Thursday, April 4th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 3.47%. Campbell Soup’s dividend payout ratio (DPR) is presently 57.81%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. increased its position in Campbell Soup by 29.8% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 29,150 shares of the company’s stock worth $1,299,000 after purchasing an additional 6,692 shares during the last quarter. HighTower Advisors LLC grew its position in shares of Campbell Soup by 60.0% in the 1st quarter. HighTower Advisors LLC now owns 20,855 shares of the company’s stock worth $932,000 after acquiring an additional 7,819 shares in the last quarter. Cetera Advisor Networks LLC grew its position in shares of Campbell Soup by 31.3% during the 1st quarter. Cetera Advisor Networks LLC now owns 11,020 shares of the company’s stock valued at $491,000 after buying an additional 2,628 shares during the last quarter. MetLife Investment Management LLC grew its stake in Campbell Soup by 22.7% during the 1st quarter. MetLife Investment Management LLC now owns 54,864 shares of the company’s stock worth $2,445,000 after buying an additional 10,144 shares during the last quarter. Finally, Rhumbline Advisers increased its position in Campbell Soup by 6.8% in the first quarter. Rhumbline Advisers now owns 319,394 shares of the company’s stock worth $14,235,000 after buying an additional 20,335 shares during the period. Institutional investors and hedge funds own 50.73% of the company’s stock.

About Campbell Soup

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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.

Further Reading

Analyst Recommendations for Campbell Soup (NYSE:CPB)

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