Campbell’s (NASDAQ:CPB) Stock Rating Raised to Hold at Argus

Argus upgraded shares of Campbell’s (NASDAQ:CPB) to a hold rating in a research report released on Wednesday,Zacks reports.

CPB has been the topic of a number of other reports. Stifel Nicolaus boosted their price objective on Campbell’s from $20.00 to $22.00 and gave the company a “hold” rating in a research note on Wednesday, July 22nd. Evercore set a $21.00 target price on Campbell’s in a report on Monday, September 14th. Royal Bank Of Canada dropped their price target on Campbell’s from $21.00 to $19.00 and set a “sector perform” rating on the stock in a research note on Friday, September 4th. Morgan Stanley cut their price target on Campbell’s from $23.00 to $21.00 and set an “equal weight” rating on the stock in a report on Friday, June 5th. Finally, Weiss Ratings raised shares of Campbell’s from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, August 31st. Thirteen investment analysts have rated the stock with a Hold rating and seven have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $19.88.

Campbell’s Price Performance

Shares of NASDAQ CPB opened at $19.83 on Wednesday. The company has a market capitalization of $5.91 billion, a PE ratio of 15.14, a P/E/G ratio of 2.38 and a beta of 0.03. The company has a quick ratio of 0.33, a current ratio of 0.82 and a debt-to-equity ratio of 1.60. Campbell’s has a twelve month low of $19.26 and a twelve month high of $32.22. The firm has a fifty day simple moving average of $22.11 and a 200 day simple moving average of $21.64.

Campbell’s (NASDAQ:CPB) last issued its quarterly earnings results on Thursday, September 3rd. The company reported $0.39 EPS for the quarter, meeting analysts’ consensus estimates of $0.39. Campbell’s had a net margin of 4.04% and a return on equity of 16.44%. The business had revenue of $2.14 billion for the quarter. During the same period last year, the company posted $0.62 EPS. The business’s revenue was down 7.9% compared to the same quarter last year. Campbell’s has set its FY 2027 guidance at 1.650-1.800 EPS. On average, sell-side analysts forecast that Campbell’s will post 1.7 EPS for the current year.

Campbell’s Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 1st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Thursday, October 1st. This is a negative change from Campbell’s’s previous quarterly dividend of $0.39. Campbell’s’s dividend payout ratio is presently 76.34%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp bought a new stake in Campbell’s during the second quarter worth $79,090,000. Lazard Asset Management LLC bought a new position in Campbell’s in the 1st quarter valued at $61,261,000. Dimensional Fund Advisors LP increased its position in shares of Campbell’s by 23.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 10,239,231 shares of the company’s stock valued at $228,026,000 after purchasing an additional 1,933,814 shares during the last quarter. Cerity Partners LLC increased its position in shares of Campbell’s by 190.3% during the 4th quarter. Cerity Partners LLC now owns 2,680,839 shares of the company’s stock valued at $74,715,000 after purchasing an additional 1,757,264 shares during the last quarter. Finally, Hsbc Holdings PLC raised its stake in shares of Campbell’s by 644.9% during the 1st quarter. Hsbc Holdings PLC now owns 1,864,119 shares of the company’s stock worth $41,319,000 after purchasing an additional 1,613,873 shares during the period. 52.35% of the stock is owned by institutional investors and hedge funds.

About Campbell’s

Campbell’s, formerly known as Campbell Soup Company, is a packaged food and beverage company headquartered in Camden, New Jersey. Founded in 1869, the company is best known for its soups and has expanded into a broad portfolio of branded meals, sauces, snacks and beverages.

Its meals and beverages portfolio includes Campbell’s soups, Swanson broths and stocks, Prego pasta sauces, V8 vegetable beverages, Pace Mexican-style sauces and Rao’s sauces and meals. The company also sells snack products through brands such as Goldfish, Pepperidge Farm, Lance, Late July and Snyder’s of Hanover.

Campbell’s primarily serves consumers in the United States and Canada through grocery stores, mass merchants, club stores, convenience retailers, foodservice distributors and e-commerce channels.