Campbell Soup Co. (CPB) Reaches New 52-Week High at $67.61
Shares of Campbell Soup Co. (NYSE:CPB) reached a new 52-week high on Tuesday . The company traded as high as $67.61 and last traded at $67.38, with a volume of 1,213,863 shares trading hands. The stock had previously closed at $66.06.
A number of research firms have weighed in on CPB. Vetr upgraded Campbell Soup from a “sell” rating to a “hold” rating and set a $62.97 price target on the stock in a research note on Wednesday, March 16th. Royal Bank Of Canada restated a “sector perform” rating and issued a $62.00 price target on shares of Campbell Soup in a research note on Monday, May 23rd. Finally, Zacks Investment Research cut Campbell Soup from a “buy” rating to a “hold” rating in a research note on Tuesday, May 24th. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $58.05.
The stock has a 50-day moving average price of $62.54 and a 200-day moving average price of $60.47. The company has a market cap of $20.75 billion and a PE ratio of 30.480.
Campbell Soup (NYSE:CPB) last announced its quarterly earnings results on Friday, May 20th. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01. The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period last year, the company posted $0.62 earnings per share. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, equities research analysts expect that Campbell Soup Co. will post $2.98 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 1st. Investors of record on Monday, July 11th will be given a dividend of $0.312 per share. The ex-dividend date is Thursday, July 7th. This represents a $1.25 dividend on an annualized basis and a yield of 1.85%.
A number of institutional investors have recently bought and sold shares of CPB. Vanguard Group Inc. boosted its position in Campbell Soup by 5.2% in the fourth quarter. Vanguard Group Inc. now owns 11,891,579 shares of the company’s stock worth $624,903,000 after buying an additional 590,278 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Campbell Soup by 2.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,801,294 shares of the company’s stock worth $147,207,000 after buying an additional 58,693 shares during the last quarter. Schroder Investment Management Group boosted its position in Campbell Soup by 14.1% in the fourth quarter. Schroder Investment Management Group now owns 1,059,063 shares of the company’s stock worth $55,654,000 after buying an additional 131,134 shares during the last quarter. Morgan Stanley boosted its position in Campbell Soup by 38.8% in the fourth quarter. Morgan Stanley now owns 841,372 shares of the company’s stock worth $44,213,000 after buying an additional 235,067 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position in Campbell Soup by 27.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 765,652 shares of the company’s stock worth $40,233,000 after buying an additional 166,935 shares during the last quarter.
Campbell Soup Company manufactures and markets food products. The Company’s segments include U.S. Simple Meals; Global Baking and Snacking; International Simple Meals and Beverages; U.S. Beverages, and Bolthouse and Foodservice. Its U.S. Simple Meals segment includes various products, such as Campbell’s condensed and ready-to-serve soups; Prego pasta sauces, and Pace Mexican sauces.