Campbell Soup (NASDAQ:CPB) Upgraded at Piper Sandler

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

Several other equities analysts have also recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of Campbell Soup from $49.00 to $51.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 11th. Sanford C. Bernstein raised shares of Campbell Soup from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $55.00 to $58.00 in a report on Monday, October 7th. Argus raised Campbell Soup from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research note on Friday, September 20th. TD Cowen upped their target price on Campbell Soup from $47.00 to $51.00 and gave the stock a “hold” rating in a research note on Thursday, September 12th. Finally, Barclays raised their price target on Campbell Soup from $45.00 to $49.00 and gave the company an “underweight” rating in a report on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $51.58.

Campbell Soup Trading Down 2.9 %

Shares of CPB stock opened at $43.15 on Thursday. Campbell Soup has a 1 year low of $39.65 and a 1 year high of $52.81. The company’s fifty day simple moving average is $47.95 and its two-hundred day simple moving average is $47.05. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.61 and a quick ratio of 0.22. The stock has a market capitalization of $12.84 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 2.64 and a beta of 0.19.

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 analysts’ consensus estimates of $0.62 by $0.01. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Campbell Soup had a return on equity of 24.08% and a net margin of 5.88%. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.50 EPS. As a group, analysts anticipate that Campbell Soup will post 3.2 earnings per share for the current year.

Campbell Soup Announces Dividend

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

Hedge Funds Weigh In On Campbell Soup

Institutional investors and hedge funds have recently made changes to their positions in the business. LSV Asset Management lifted its stake in Campbell Soup by 5,022.5% in the second quarter. LSV Asset Management now owns 2,438,300 shares of the company’s stock worth $110,187,000 after purchasing an additional 2,390,700 shares during the last quarter. Wulff Hansen & CO. increased its holdings in shares of Campbell Soup by 4,419.0% in the second quarter. Wulff Hansen & CO. now owns 732,530 shares of the company’s stock worth $33,103,000 after buying an additional 716,320 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Campbell Soup by 88.2% in the 3rd quarter. Victory Capital Management Inc. now owns 1,192,610 shares of the company’s stock valued at $58,342,000 after acquiring an additional 558,944 shares during the last quarter. Armistice Capital LLC grew its position in Campbell Soup by 94.0% during the 2nd quarter. Armistice Capital LLC now owns 1,067,914 shares of the company’s stock worth $48,259,000 after acquiring an additional 517,550 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Campbell Soup by 14.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,876,253 shares of the company’s stock worth $129,971,000 after acquiring an additional 363,736 shares during the last quarter. Institutional investors own 52.35% of the company’s stock.

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.