Argus cut shares of Campbell’s (NASDAQ:CPB – Free Report) from a buy rating to a hold rating in a research note released on Friday morning, MarketBeat.com reports.
A number of other research firms have also recently commented on CPB. Morgan Stanley lowered their target price on shares of Campbell’s from $40.00 to $35.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 3rd. Barclays decreased their price target on shares of Campbell’s from $40.00 to $35.00 and set an “underweight” rating for the company in a report on Tuesday, June 3rd. DA Davidson dropped their price objective on shares of Campbell’s from $39.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, June 9th. Wells Fargo & Company reduced their target price on Campbell’s from $40.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday, May 30th. Finally, UBS Group started coverage on Campbell’s in a research report on Wednesday, April 23rd. They set a “sell” rating and a $36.00 price target for the company. Five research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Campbell’s currently has a consensus rating of “Hold” and an average target price of $40.11.
Read Our Latest Stock Analysis on CPB
Campbell’s Stock Down 0.0%
Campbell’s (NASDAQ:CPB – Get Free Report) last released its quarterly earnings results on Monday, June 2nd. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.08. Campbell’s had a return on equity of 23.22% and a net margin of 4.44%. The company had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same period last year, the business posted $0.75 earnings per share. The firm’s revenue was up 4.5% compared to the same quarter last year. On average, research analysts expect that Campbell’s will post 3.15 earnings per share for the current fiscal year.
Campbell’s Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, August 4th. Investors of record on Thursday, July 3rd will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 4.90%. The ex-dividend date is Thursday, July 3rd. Campbell’s’s dividend payout ratio (DPR) is 103.31%.
Insider Activity at Campbell’s
In other Campbell’s news, EVP Charles A. Brawley III sold 2,498 shares of the company’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $40.03, for a total value of $99,994.94. Following the completion of the transaction, the executive vice president now owns 37,590 shares in the company, valued at approximately $1,504,727.70. This represents a 6.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 20.19% of the stock is owned by company insiders.
Institutional Investors Weigh In On Campbell’s
A number of institutional investors have recently modified their holdings of the business. Nuveen LLC acquired a new position in Campbell’s in the 1st quarter worth about $65,588,000. Two Sigma Advisers LP grew its holdings in Campbell’s by 272.7% in the fourth quarter. Two Sigma Advisers LP now owns 2,243,300 shares of the company’s stock valued at $93,949,000 after purchasing an additional 1,641,400 shares during the period. Man Group plc increased its position in shares of Campbell’s by 1,296.1% in the fourth quarter. Man Group plc now owns 1,407,161 shares of the company’s stock valued at $58,932,000 after buying an additional 1,306,372 shares in the last quarter. Invesco Ltd. raised its stake in shares of Campbell’s by 38.2% during the 4th quarter. Invesco Ltd. now owns 4,645,548 shares of the company’s stock worth $194,556,000 after buying an additional 1,282,957 shares during the period. Finally, Norges Bank acquired a new position in shares of Campbell’s during the 4th quarter worth approximately $50,908,000. 52.35% of the stock is currently owned by institutional investors and hedge funds.
Campbell’s Company Profile
The Campbell’s Company, formerly known as 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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