Campbell Soup (NASDAQ:CPB) Rating Increased to Overweight at Piper Sandler

Piper Sandler upgraded shares of Campbell Soup (NASDAQ:CPB) from a neutral rating to an overweight rating in a research report released on Thursday, Marketbeat reports. The firm currently has $56.00 price objective on the stock, up from their prior price objective of $47.00.

Several other equities research analysts have also issued reports on the stock. DA Davidson lowered shares of Campbell Soup from a “buy” rating to a “neutral” rating and set a $51.00 price target on the stock. in a research note on Friday, September 27th. Royal Bank of Canada lifted their price objective on shares of Campbell Soup from $47.00 to $51.00 and gave the company a “sector perform” rating in a research report on Friday, September 13th. StockNews.com raised shares of Campbell Soup from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. JPMorgan Chase & Co. lifted their price objective on shares of Campbell Soup from $55.00 to $57.00 and gave the company an “overweight” rating in a research report on Wednesday, September 11th. Finally, Argus raised shares of Campbell Soup from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $51.58.

Campbell Soup Stock Down 2.9 %

Shares of NASDAQ:CPB opened at $43.15 on Thursday. Campbell Soup has a 52 week low of $39.65 and a 52 week high of $52.81. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.22 and a current ratio of 0.61. The company has a market capitalization of $12.84 billion, a PE ratio of 22.83, a PEG ratio of 2.57 and a beta of 0.19. The company has a 50 day moving average price of $47.95 and a two-hundred day moving average price of $47.07.

Campbell Soup (NASDAQ:CPB) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.01. Campbell Soup had a net margin of 5.88% and a return on equity of 24.08%. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the prior year, the firm earned $0.50 earnings per share. The firm’s revenue was up 10.9% compared to the same quarter last year. Analysts forecast that Campbell Soup will post 3.2 earnings per share for the current year.

Campbell Soup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Thursday, October 3rd were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend was Thursday, October 3rd. Campbell Soup’s dividend payout ratio (DPR) is 78.31%.

Hedge Funds Weigh In On Campbell Soup

Hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Campbell Soup in the 2nd quarter valued at approximately $32,000. nVerses Capital LLC acquired a new position in shares of Campbell Soup in the 3rd quarter valued at approximately $34,000. Ashton Thomas Securities LLC acquired a new position in shares of Campbell Soup in the 3rd quarter valued at approximately $39,000. TruNorth Capital Management LLC acquired a new position in shares of Campbell Soup in the 2nd quarter valued at approximately $44,000. Finally, Rothschild Investment LLC acquired a new position in shares of Campbell Soup in the 2nd quarter valued at approximately $44,000. 52.35% of the stock is currently owned by institutional investors and hedge funds.

About Campbell Soup

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.