Campbell Soup (NYSE:CPB) Upgraded to Overweight by JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Campbell Soup (NYSE:CPB) from a neutral rating to an overweight rating in a research note released on Wednesday, Marketbeat reports. They currently have $52.00 target price on the stock, up from their prior target price of $45.00.

Other equities research analysts also recently issued reports about the company. Sanford C. Bernstein raised Campbell Soup from an underperform rating to a market perform rating and upped their target price for the company from $42.00 to $46.00 in a report on Wednesday, May 15th. Piper Sandler reiterated a neutral rating and issued a $47.00 target price on shares of Campbell Soup in a report on Tuesday, March 26th. Evercore ISI began coverage on shares of Campbell Soup in a report on Wednesday, March 13th. They set an in-line rating and a $49.00 price target on the stock. Royal Bank of Canada reaffirmed a sector perform rating and issued a $47.00 price objective on shares of Campbell Soup in a research note on Friday, June 7th. Finally, DA Davidson boosted their target price on shares of Campbell Soup from $47.00 to $49.00 and gave the company a buy rating in a research note on Monday, June 10th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Campbell Soup currently has a consensus rating of Hold and a consensus price target of $46.56.

Campbell Soup Stock Performance

NYSE:CPB opened at $45.19 on Wednesday. The company has a 50-day moving average of $44.90 and a 200-day moving average of $43.88. The firm has a market cap of $13.49 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 2.86 and a beta of 0.19. The company has a current ratio of 0.62, a quick ratio of 0.24 and a debt-to-equity ratio of 1.47. Campbell Soup has a twelve month low of $37.94 and a twelve month high of $46.97.

Campbell Soup (NYSE:CPB) last issued its earnings results on Wednesday, June 5th. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.05. The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.34 billion. Campbell Soup had a net margin of 7.85% and a return on equity of 23.26%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period last year, the firm posted $0.68 earnings per share. Analysts forecast that Campbell Soup will post 3.08 earnings per share for the current fiscal year.

Campbell Soup Announces Dividend

The firm also recently disclosed 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 yield of 3.28%. The ex-dividend date is Wednesday, July 3rd. Campbell Soup’s dividend payout ratio is presently 59.92%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Kestra Advisory Services LLC lifted its stake in shares of Campbell Soup by 117.8% in the third quarter. Kestra Advisory Services LLC now owns 16,434 shares of the company’s stock worth $675,000 after buying an additional 8,890 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Campbell Soup by 0.4% in the third quarter. Envestnet Asset Management Inc. now owns 108,058 shares of the company’s stock valued at $4,439,000 after purchasing an additional 443 shares during the last quarter. Stifel Financial Corp increased its stake in shares of Campbell Soup by 0.4% in the third quarter. Stifel Financial Corp now owns 63,321 shares of the company’s stock worth $2,601,000 after purchasing an additional 261 shares during the period. Tower Research Capital LLC TRC boosted its stake in Campbell Soup by 31.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 9,876 shares of the company’s stock valued at $406,000 after purchasing an additional 2,343 shares during the period. Finally, Bank of Nova Scotia grew its holdings in Campbell Soup by 512.5% in the 3rd quarter. Bank of Nova Scotia now owns 170,613 shares of the company’s stock valued at $7,009,000 after buying an additional 142,758 shares during the last quarter. 52.35% of the stock is owned by institutional investors.

About Campbell Soup

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.