Campbell Soup Co. (CPB) Trading Down 1.2%
Campbell Soup Co. (NYSE:CPB) dropped 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 trading hands. The stock had previously closed at $66.63.
CPB has been the topic of a number of analyst reports. Vetr upgraded Campbell Soup from a “hold” rating to a “buy” rating and set a $65.63 target price on the stock in a research report on Wednesday, April 13th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $62.00 price objective on shares of Campbell Soup in a report on Monday, May 23rd. Zacks Investment Research cut Campbell Soup from a “buy” rating to a “hold” rating in a report on Tuesday, May 24th. Finally, Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a $68.00 price objective (up from $62.00) on shares of Campbell Soup in a report on Friday, July 15th. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $58.51.
The stock has a market cap of $19.44 billion and a PE ratio of 28.56. The company’s 50 day moving average is $64.04 and its 200-day moving average is $61.34.
Campbell Soup (NYSE:CPB) last issued its earnings results on Friday, May 20th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.01. The company earned $1.87 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period last year, the business posted $0.62 earnings per share. The company’s quarterly revenue was down 1.6% on a year-over-year basis. On average, equities research analysts forecast that Campbell Soup Co. will post $2.98 earnings per share for the current year.
The business also recently announced 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. The ex-dividend date of this dividend is Thursday, July 7th. This represents a $1.25 dividend on an annualized basis and a yield of 1.97%.
A number of hedge funds and institutional investors recently modified their holdings of the stock. Aberdeen Asset Management PLC UK boosted its position in shares of Campbell Soup by 34.0% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 36,513 shares of the company’s stock worth $1,878,000 after buying an additional 9,267 shares during the period. Principal Financial Group Inc. boosted its position in shares of Campbell Soup by 25.3% in the fourth quarter. Principal Financial Group Inc. now owns 334,040 shares of the company’s stock worth $17,554,000 after buying an additional 67,430 shares during the period. Wells Fargo & Company MN boosted its position 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 boosted its position 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. Finally, Morgan Stanley boosted its position 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.
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.