Campbell’s (NASDAQ:CPB – Free Report) had its price objective upped by UBS Group from $18.00 to $19.00 in a research note published on Friday morning,Benzinga reports. They currently have a sell rating on the stock.
CPB has been the topic of several other reports. Jefferies Financial Group decreased their target price on shares of Campbell’s from $22.00 to $20.00 and set a “hold” rating on the stock in a research report on Thursday. Morgan Stanley dropped their price target on Campbell’s from $23.00 to $21.00 and set an “equal weight” rating for the company in a research report on Friday, June 5th. Barclays reduced their price objective on Campbell’s from $19.00 to $18.00 and set an “underweight” rating on the stock in a research note on Friday. William Blair initiated coverage on Campbell’s in a research note on Tuesday, June 23rd. They issued a “market perform” rating for the company. Finally, Evercore set a $22.00 target price on Campbell’s in a report on Monday, August 31st. Thirteen equities research analysts have rated the stock with a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $19.94.
View Our Latest Research Report on CPB
Campbell’s Price Performance
Campbell’s (NASDAQ:CPB – Get Free Report) last announced its quarterly earnings results on Thursday, September 3rd. The company reported $0.39 earnings per share for the quarter, hitting the consensus estimate of $0.39. The company had revenue of $2.14 billion for the quarter. Campbell’s had a net margin of 4.04% and a return on equity of 16.44%. The company’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.62 EPS. Campbell’s has set its FY 2027 guidance at 1.650-1.800 EPS. As a group, equities analysts predict that Campbell’s will post 1.71 EPS for the current fiscal year.
Campbell’s Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 1st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Thursday, October 1st. Campbell’s’s dividend payout ratio (DPR) is currently 77.23%.
Hedge Funds Weigh In On Campbell’s
Several hedge funds have recently bought and sold shares of the business. State Street Corp boosted its stake in shares of Campbell’s by 1.3% during the second quarter. State Street Corp now owns 11,960,359 shares of the company’s stock valued at $366,585,000 after purchasing an additional 149,679 shares during the period. Dimensional Fund Advisors LP increased its stake in Campbell’s by 23.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 10,239,231 shares of the company’s stock worth $228,026,000 after buying an additional 1,933,814 shares during the period. Invesco Ltd. increased its stake in Campbell’s by 21.6% in the 4th quarter. Invesco Ltd. now owns 9,719,409 shares of the company’s stock worth $270,880,000 after buying an additional 1,723,676 shares during the period. California State Teachers Retirement System lifted its holdings in Campbell’s by 2,093.8% during the 2nd quarter. California State Teachers Retirement System now owns 4,981,665 shares of the company’s stock valued at $110,942,000 after buying an additional 4,754,582 shares in the last quarter. Finally, Two Sigma Investments LP lifted its holdings in Campbell’s by 534.8% during the 3rd quarter. Two Sigma Investments LP now owns 4,937,170 shares of the company’s stock valued at $155,916,000 after buying an additional 4,159,398 shares in the last quarter. Institutional investors own 52.35% of the company’s stock.
Key Headlines Impacting Campbell’s
Here are the key news stories impacting Campbell’s this week:
- Positive Sentiment: Management announced a plan targeting approximately $500 million in savings, including workforce reductions and other cost actions. The initiative is intended to repair margins and accelerate debt reduction. Campbell’s slashes 13% of salaried workforce as part of $500M cost-cutting plan
- Positive Sentiment: Campbell’s plans to discuss its business and outlook at a Barclays Global Consumer Staples Conference fireside chat on September 9, giving investors an opportunity to hear more about the turnaround strategy. Campbell’s Barclays conference announcement
About Campbell’s
Campbell’s (NASDAQ: CPB) is a leading manufacturer of shelf-stable foods and beverages, best known for its iconic soups and broths. Headquartered in Camden, New Jersey, the company offers a diverse portfolio of products designed to meet consumer demand for convenient, affordable meals and snacks. Since its founding in 1869, Campbell’s has grown through a combination of organic innovation and strategic acquisitions to expand its presence in the food industry.
The company’s brand portfolio includes Campbell’s Condensed Soups, V8 juices, Prego pasta sauces, Swanson broths and stocks, Pace salsas and dips, and Pepperidge Farm baked snacks.
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