Campbell Soup Co. (CPB) Shares Down 1.2%
Campbell Soup Co. (NYSE:CPB) was down 1.2% during trading on Wednesday . The company traded as low as $65.80 and last traded at $65.80, with a volume of 527,616 shares changing hands. The stock had previously closed at $66.63.
A number of equities research analysts recently commented on CPB shares. Vetr upgraded shares of Campbell Soup from a “hold” rating to a “buy” rating and set a $65.63 price objective for the company in a research report on Wednesday, April 13th. Royal Bank Of Canada restated a “sector perform” rating and issued a $62.00 price objective on shares of Campbell Soup in a research report on Monday, May 23rd. Zacks Investment Research downgraded shares of Campbell Soup from a “buy” rating to a “hold” rating in a research report on Tuesday, May 24th. Finally, Goldman Sachs Group Inc. restated a “neutral” rating and issued a $68.00 price objective (up previously from $62.00) on shares of Campbell Soup in a research report on Friday, July 15th. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $58.51.
The company has a 50 day moving average of $63.98 and a 200-day moving average of $61.33. The stock has a market capitalization of $19.93 billion and a PE ratio of 29.27.
Campbell Soup (NYSE:CPB) last issued its quarterly earnings results on Friday, May 20th. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. The company earned $1.87 billion during the quarter, compared to the consensus estimate of $1.91 billion. Campbell Soup’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the company earned $0.62 earnings per share. Equities analysts anticipate that Campbell Soup Co. will post $2.98 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 1st. Shareholders of record on Monday, July 11th will be issued a $0.312 dividend. This represents a $1.25 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Thursday, July 7th.
A number of hedge funds recently modified their holdings of the stock. Wells Fargo & Company MN increased its stake in shares of Campbell Soup by 32.7% in the fourth quarter. Wells Fargo & Company MN now owns 324,728 shares of the company’s stock worth $17,064,000 after buying an additional 80,028 shares during the period. Bank of Montreal Can increased its stake in shares of Campbell Soup by 42.1% in the fourth quarter. Bank of Montreal Can now owns 467,355 shares of the company’s stock worth $24,560,000 after buying an additional 138,524 shares during the period. Morgan Stanley increased its stake in shares of 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 period. Mutual of America Capital Management LLC increased its stake in shares of Campbell Soup by 0.4% in the fourth quarter. Mutual of America Capital Management LLC now owns 20,181 shares of the company’s stock worth $1,061,000 after buying an additional 79 shares during the period. Finally, Gulf International Bank UK Ltd increased its stake in shares of Campbell Soup by 0.3% in the fourth quarter. Gulf International Bank UK Ltd now owns 56,218 shares of the company’s stock worth $2,954,000 after buying an additional 150 shares during the period.
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.
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