Wells Fargo & Company Has Lowered Expectations for Campbell Soup (NASDAQ:CPB) Stock Price

Campbell Soup (NASDAQ:CPB) had its price target trimmed by Wells Fargo & Company from $51.00 to $45.00 in a research report report published on Thursday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other research analysts have also issued reports on the stock. Piper Sandler raised shares of Campbell Soup from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $47.00 to $56.00 in a research note on Thursday, November 14th. DA Davidson restated a “neutral” rating and issued a $51.00 target price on shares of Campbell Soup in a research note on Wednesday. Argus raised Campbell Soup from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research report on Friday, September 20th. JPMorgan Chase & Co. increased their price target on Campbell Soup from $55.00 to $57.00 and gave the stock an “overweight” rating in a report on Wednesday, September 11th. Finally, TD Cowen boosted their price objective on Campbell Soup from $47.00 to $51.00 and gave the company a “hold” rating in a report on Thursday, September 12th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $51.17.

Campbell Soup Price Performance

Shares of CPB opened at $42.63 on Thursday. The firm has a market cap of $12.69 billion, a PE ratio of 23.30, a price-to-earnings-growth ratio of 2.62 and a beta of 0.18. Campbell Soup has a 52-week low of $40.26 and a 52-week high of $52.81. The business’s 50 day moving average price is $46.36 and its two-hundred day moving average price is $46.97. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.22 and a current ratio of 0.61.

Campbell Soup Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 3.66%. This is an increase from Campbell Soup’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Thursday, January 2nd. Campbell Soup’s payout ratio is currently 80.87%.

Hedge Funds Weigh In On Campbell Soup

Several hedge funds have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in Campbell Soup during the second quarter worth $32,000. nVerses Capital LLC purchased a new position in shares of Campbell Soup in the 3rd quarter worth about $34,000. Ashton Thomas Securities LLC purchased a new stake in Campbell Soup during the third quarter worth about $39,000. TruNorth Capital Management LLC bought a new stake in Campbell Soup in the second quarter worth about $44,000. Finally, Rothschild Investment LLC purchased a new position in Campbell Soup in the second quarter valued at about $44,000. Institutional investors own 52.35% of the company’s stock.

Campbell Soup Company Profile

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.