Barclays Lowers Campbell Soup (NASDAQ:CPB) Price Target to $46.00

Campbell Soup (NASDAQ:CPB) had its target price reduced by Barclays from $49.00 to $46.00 in a research note released on Friday morning,Benzinga reports. They currently have an underweight rating on the stock.

A number of other brokerages have also commented on CPB. StockNews.com upgraded shares of Campbell Soup from a “sell” rating to a “hold” rating in a research note on Thursday, September 26th. Stephens restated an “overweight” rating on shares of Campbell Soup in a research report on Wednesday, December 4th. Argus upgraded shares of 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. boosted their target price on shares of Campbell Soup from $55.00 to $57.00 and gave the company an “overweight” rating in a research report on Wednesday, September 11th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $51.00 target price on shares of Campbell Soup in a research report on Monday, December 2nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $50.92.

Campbell Soup Stock Performance

Shares of CPB stock opened at $42.73 on Friday. The company has a 50 day moving average price of $46.22 and a 200-day moving average price of $46.96. Campbell Soup has a 52 week low of $40.26 and a 52 week high of $52.81. The firm has a market capitalization of $12.74 billion, a PE ratio of 23.35, a P/E/G ratio of 2.45 and a beta of 0.18. The company has a quick ratio of 0.22, a current ratio of 0.91 and a debt-to-equity ratio of 1.74.

Campbell Soup Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Thursday, January 2nd will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend is Thursday, January 2nd. This is an increase from Campbell Soup’s previous quarterly dividend of $0.37. Campbell Soup’s payout ratio is 85.25%.

Hedge Funds Weigh In On Campbell Soup

Hedge funds have recently modified their holdings of the stock. nVerses Capital LLC purchased a new stake in Campbell Soup during the third quarter valued at $34,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Campbell Soup during the second quarter valued at $32,000. Ashton Thomas Securities LLC purchased a new stake in Campbell Soup during the third quarter valued at $39,000. TruNorth Capital Management LLC purchased a new stake in Campbell Soup during the second quarter valued at $44,000. Finally, Rothschild Investment LLC purchased a new stake in Campbell Soup during the second quarter valued at $44,000. Hedge funds and other institutional investors own 52.35% of the company’s stock.

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.