Campbell Soup (NASDAQ:CPB) Downgraded to Neutral at DA Davidson

DA Davidson cut shares of Campbell Soup (NASDAQ:CPB) from a buy rating to a neutral rating in a report published on Friday, Marketbeat reports. The brokerage currently has $51.00 target price on the stock.

CPB has been the topic of several other reports. Stifel Nicolaus reissued a hold rating and set a $45.00 price target on shares of Campbell Soup in a research report on Tuesday, August 27th. StockNews.com raised shares of Campbell Soup from a sell rating to a hold rating in a report on Thursday, September 26th. Argus raised shares of Campbell Soup from a hold rating to a buy rating and set a $59.00 price target for the company in a report on Friday, September 20th. Royal Bank of Canada boosted 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. Finally, Wells Fargo & Company raised their target price on shares of Campbell Soup from $49.00 to $51.00 and gave the stock an equal weight rating in a report on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Campbell Soup presently has an average rating of Hold and a consensus price target of $49.85.

Campbell Soup Price Performance

Shares of CPB stock opened at $48.92 on Friday. The firm has a market cap of $14.61 billion, a P/E ratio of 19.81, a P/E/G ratio of 3.02 and a beta of 0.18. The firm has a fifty day moving average of $49.48 and a two-hundred day moving average of $46.34. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.61 and a quick ratio of 0.22. Campbell Soup has a 1-year low of $37.94 and a 1-year high of $52.81.

Campbell Soup (NASDAQ:CPB) last posted its quarterly earnings results on Thursday, August 29th. The company reported $0.63 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $2.31 billion. During the same period last year, the firm earned $0.50 earnings per share. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, research analysts anticipate that Campbell Soup will post 3.18 earnings per share for the current fiscal year.

Campbell Soup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Thursday, October 3rd will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.48 annualized dividend and a dividend yield of 3.03%. Campbell Soup’s dividend payout ratio is presently 59.92%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CPB. LSV Asset Management boosted its holdings in shares of Campbell Soup by 5,022.5% in the second quarter. LSV Asset Management now owns 2,438,300 shares of the company’s stock valued at $110,187,000 after acquiring an additional 2,390,700 shares in the last quarter. Van ECK Associates Corp boosted its stake in Campbell Soup by 16.6% during the 1st quarter. Van ECK Associates Corp now owns 8,548,557 shares of the company’s stock valued at $379,983,000 after purchasing an additional 1,219,301 shares in the last quarter. Wulff Hansen & CO. increased its position in shares of Campbell Soup by 4,419.0% during the 2nd quarter. Wulff Hansen & CO. now owns 732,530 shares of the company’s stock valued at $33,103,000 after purchasing an additional 716,320 shares during the period. AMF Tjanstepension AB bought a new stake in shares of Campbell Soup in the 1st quarter worth $30,128,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Campbell Soup by 21.2% in the first quarter. Bank of New York Mellon Corp now owns 3,315,516 shares of the company’s stock valued at $147,375,000 after buying an additional 580,411 shares during the period. Institutional investors 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.