Campbell Soup (NYSE:CPB – Get Rating) declared a quarterly dividend on Wednesday, September 21st, RTT News reports. Shareholders of record on Thursday, October 6th will be given a dividend of 0.37 per share on Monday, October 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.05%.
Campbell Soup Company Is Mmm Mmm Good For Income Portfolios
Campbell Soup has increased its dividend payment by an average of 1.9% annually over the last three years. Campbell Soup has a dividend payout ratio of 51.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Campbell Soup to earn $3.08 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 48.1%.
Campbell Soup Stock Up 1.6 %
CPB stock traded up $0.76 during mid-day trading on Wednesday, reaching $48.53. The company had a trading volume of 2,550,256 shares, compared to its average volume of 2,566,980. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.68 and a quick ratio of 0.30. The stock has a 50 day simple moving average of $49.29 and a two-hundred day simple moving average of $47.40. The company has a market capitalization of $14.59 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 5.59 and a beta of 0.35. Campbell Soup has a 52 week low of $39.76 and a 52 week high of $51.94.
Campbell Soup (NYSE:CPB – Get Rating) last posted its quarterly earnings results on Thursday, September 1st. The company reported $0.56 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.56. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.98 billion. Campbell Soup had a return on equity of 25.81% and a net margin of 8.84%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company earned $0.55 earnings per share. As a group, equities analysts predict that Campbell Soup will post 2.9 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several brokerages have recently commented on CPB. StockNews.com downgraded Campbell Soup from a “buy” rating to a “hold” rating in a research note on Monday. Credit Suisse Group lifted their target price on Campbell Soup from $46.00 to $52.00 and gave the stock a “neutral” rating in a research note on Friday, August 26th. Deutsche Bank Aktiengesellschaft lifted their target price on Campbell Soup from $49.00 to $50.00 in a research note on Monday, August 22nd. JPMorgan Chase & Co. lifted their target price on Campbell Soup from $46.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, August 25th. Finally, UBS Group lifted their target price on Campbell Soup to $45.00 in a research note on Monday, August 29th. One investment analyst has rated the stock with a sell rating and nine have given a hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $47.89.
Insider Buying and Selling at Campbell Soup
In other Campbell Soup news, EVP Craig Slavtcheff sold 13,110 shares of Campbell Soup stock in a transaction on Thursday, June 23rd. The stock was sold at an average price of $47.00, for a total value of $616,170.00. Following the completion of the transaction, the executive vice president now directly owns 32,242 shares of the company’s stock, valued at approximately $1,515,374. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Campbell Soup news, EVP Craig Slavtcheff sold 13,110 shares of Campbell Soup stock in a transaction on Thursday, June 23rd. The stock was sold at an average price of $47.00, for a total value of $616,170.00. Following the completion of the transaction, the executive vice president now directly owns 32,242 shares of the company’s stock, valued at approximately $1,515,374. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Adam G. Ciongoli sold 32,194 shares of Campbell Soup stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $49.75, for a total value of $1,601,651.50. Following the completion of the transaction, the executive vice president now directly owns 129,919 shares of the company’s stock, valued at $6,463,470.25. The disclosure for this sale can be found here. Insiders sold 73,563 shares of company stock valued at $3,612,348 in the last three months. Corporate insiders own 35.62% of the company’s stock.
Hedge Funds Weigh In On Campbell Soup
A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Campbell Soup by 6.3% during the 1st quarter. Vanguard Group Inc. now owns 23,259,524 shares of the company’s stock worth $1,036,678,000 after buying an additional 1,387,605 shares in the last quarter. State Street Corp grew its position in Campbell Soup by 16.8% during the 1st quarter. State Street Corp now owns 12,182,043 shares of the company’s stock worth $542,954,000 after acquiring an additional 1,749,650 shares during the last quarter. Renaissance Technologies LLC grew its position in Campbell Soup by 4.9% during the 1st quarter. Renaissance Technologies LLC now owns 3,306,268 shares of the company’s stock worth $147,360,000 after acquiring an additional 153,741 shares during the last quarter. First Trust Advisors LP grew its position in Campbell Soup by 3.8% during the 1st quarter. First Trust Advisors LP now owns 1,993,092 shares of the company’s stock worth $88,832,000 after acquiring an additional 73,127 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Campbell Soup by 3.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,534,757 shares of the company’s stock worth $68,404,000 after acquiring an additional 51,846 shares during the last quarter. Institutional investors and hedge funds own 51.16% of the company’s stock.
About Campbell Soup
Campbell Soup Company, together with its subsidiaries, manufactures and markets food and beverage products 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.