Campbell Soup (NYSE:CPB) Price Target Increased to $42.00 by Analysts at Citigroup (2024)

Campbell Soup (NYSE:CPB – Free Report) had its price objective boosted by Citigroup from $41.00 to $42.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a sell rating on the stock.

Several other equities analysts have also recently weighed in on the company. Sanford C. Bernstein raised Campbell Soup from an underperform rating to a market perform rating and increased their price target for the company from $42.00 to $46.00 in a report on Wednesday, May 15th. Royal Bank of Canada reaffirmed a sector perform rating and issued a $47.00 target price on shares of Campbell Soup in a report on Thursday, March 14th. Evercore ISI initiated coverage on Campbell Soup in a report on Wednesday, March 13th. They issued an in-line rating and a $49.00 target price on the stock. Piper Sandler reaffirmed a neutral rating and issued a $47.00 target price on shares of Campbell Soup in a report on Tuesday, March 26th. Finally, JPMorgan Chase & Co. raised their target price on Campbell Soup from $47.00 to $48.00 and gave the stock a neutral rating in a report on Friday, March 1st. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $46.41.

Get Our Latest Stock Report on CPB

Campbell Soup Price Performance

NYSE CPB opened at $45.64 on Thursday. The business’s fifty day moving average price is $44.55 and its 200-day moving average price is $43.31. The stock has a market capitalization of $13.61 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 2.98 and a beta of 0.23. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.01 and a quick ratio of 0.43. Campbell Soup has a 1-year low of $37.94 and a 1-year high of $52.12.

Campbell Soup (NYSE:CPB – Get Free Report) last released its quarterly earnings results on Wednesday, March 6th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.03. The firm had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.44 billion. Campbell Soup had a return on equity of 23.18% and a net margin of 8.26%. The company’s revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.80 EPS. On average, equities analysts predict that Campbell Soup will post 3.05 earnings per share for the current year.

Campbell Soup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Wednesday, July 3rd will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend is Wednesday, July 3rd. Campbell Soup’s payout ratio is 57.81%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CPB. Allworth Financial LP lifted its stake in Campbell Soup by 110.0% in the third quarter. Allworth Financial LP now owns 819 shares of the company’s stock worth $34,000 after purchasing an additional 429 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in Campbell Soup by 3.4% in the third quarter. Daiwa Securities Group Inc. now owns 16,761 shares of the company’s stock worth $689,000 after purchasing an additional 552 shares during the last quarter. M&T Bank Corp lifted its stake in Campbell Soup by 8.6% in the third quarter. M&T Bank Corp now owns 26,675 shares of the company’s stock worth $1,095,000 after purchasing an additional 2,109 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in Campbell Soup in the third quarter worth about $231,000. Finally, Signaturefd LLC lifted its stake in Campbell Soup by 28.3% in the third quarter. Signaturefd LLC now owns 12,215 shares of the company’s stock worth $502,000 after purchasing an additional 2,697 shares during the last quarter. Institutional investors own 52.35% of the company’s stock.

About Campbell Soup

(Get Free Report)

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.

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