Campbell Soup (NASDAQ:CPB) Lifted to Buy at Argus

Argus upgraded shares of Campbell Soup (NASDAQ:CPB) from a hold rating to a buy rating in a research note issued to investors on Friday morning, MarketBeat reports. The brokerage currently has $59.00 target price on the stock.

A number of other research firms also recently weighed in on CPB. Wells Fargo & Company raised their target price on shares of Campbell Soup from $49.00 to $51.00 and gave the company an equal weight rating in a research report on Wednesday, September 11th. Barclays lifted their target price on Campbell Soup from $45.00 to $49.00 and gave the company an underweight rating in a research report on Thursday, September 12th. DA Davidson increased their price target on Campbell Soup from $47.00 to $49.00 and gave the company a buy rating in a research report on Monday, June 10th. TD Cowen raised their price target on Campbell Soup from $47.00 to $51.00 and gave the company a hold rating in a research note on Thursday, September 12th. Finally, StockNews.com cut Campbell Soup from a hold rating to a sell rating in a research note on Friday. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Campbell Soup presently has a consensus rating of Hold and a consensus target price of $49.69.

Campbell Soup Stock Performance

CPB opened at $51.21 on Friday. The company has a market capitalization of $15.29 billion, a price-to-earnings ratio of 20.73, a P/E/G ratio of 3.09 and a beta of 0.18. The business’s 50-day moving average price is $49.19 and its two-hundred day moving average price is $46.09. Campbell Soup has a 1 year low of $37.94 and a 1 year high of $52.81. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.61 and a quick ratio of 0.24.

Campbell Soup (NASDAQ:CPB) last announced its earnings results on Thursday, August 29th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. Campbell Soup had a return on equity of 24.08% and a net margin of 5.88%. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter last year, the firm earned $0.50 EPS. Campbell Soup’s revenue for the quarter was up 10.9% compared to the same quarter last year. Equities analysts expect that Campbell Soup will post 3.18 EPS for the current fiscal year.

Campbell Soup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Thursday, October 3rd will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend is Thursday, October 3rd. Campbell Soup’s dividend payout ratio is presently 59.92%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CPB. M&G Plc acquired a new position in shares of Campbell Soup in the second quarter valued at approximately $469,000. Lingohr Asset Management GmbH acquired a new position in Campbell Soup in the 4th quarter valued at $627,000. First Trust Advisors LP increased its position in Campbell Soup by 6.5% during the 4th quarter. First Trust Advisors LP now owns 661,401 shares of the company’s stock worth $28,592,000 after buying an additional 40,504 shares during the period. Stephens Inc. AR acquired a new stake in shares of Campbell Soup during the fourth quarter worth $1,211,000. Finally, B. Riley Wealth Advisors Inc. bought a new stake in shares of Campbell Soup in the fourth quarter valued at about $1,045,000. Institutional investors and hedge funds own 52.35% of the company’s stock.

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.