Campbell Soup (NASDAQ:CPB) Trading Up 5.4% – Time to Buy?

The Campbell Soup Company (NASDAQ:CPB)’s stock price shot up 5.4% during trading on Friday . The company traded as high as $41.86 and last traded at $41.94. 490,086 shares were traded during trading, a decline of 81% from the average session volume of 2,549,120 shares. The stock had previously closed at $39.79.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CPB shares. JPMorgan Chase & Co. lowered shares of Campbell Soup from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $48.00 to $37.00 in a research note on Thursday. Stephens reaffirmed an “overweight” rating on shares of Campbell Soup in a research report on Wednesday, December 4th. Piper Sandler raised Campbell Soup from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $47.00 to $56.00 in a research report on Thursday, November 14th. Wells Fargo & Company reduced their price target on Campbell Soup from $43.00 to $40.00 and set an “equal weight” rating for the company in a research report on Thursday. Finally, BNP Paribas upgraded shares of Campbell Soup to a “strong sell” rating in a report on Wednesday, February 26th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $46.36.

Campbell Soup Stock Up 5.9 %

The stock has a market cap of $12.56 billion, a P/E ratio of 23.01, a price-to-earnings-growth ratio of 2.71 and a beta of 0.19. The firm has a 50 day simple moving average of $39.39 and a 200-day simple moving average of $44.36. The company has a quick ratio of 0.50, a current ratio of 0.91 and a debt-to-equity ratio of 1.74.

Campbell Soup (NASDAQ:CPB) last posted its quarterly earnings results on Wednesday, March 5th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Campbell Soup had a return on equity of 23.79% and a net margin of 5.57%. The business had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $2.74 billion. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, equities research analysts forecast that The Campbell Soup Company will post 3.15 earnings per share for the current fiscal year.

Campbell Soup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Thursday, April 3rd will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date is Thursday, April 3rd. Campbell Soup’s dividend payout ratio is 85.25%.

Insider Transactions at Campbell Soup

In related news, EVP Anthony Sanzio sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $41.90, for a total value of $83,800.00. Following the completion of the sale, the executive vice president now directly owns 16,551 shares in the company, valued at approximately $693,486.90. The trade was a 10.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 20.19% of the company’s stock.

Hedge Funds Weigh In On Campbell Soup

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC acquired a new position in Campbell Soup in the third quarter valued at about $39,000. Sherman Asset Management Inc. bought a new position in Campbell Soup in the 4th quarter valued at about $36,000. Principal Securities Inc. raised its position in shares of Campbell Soup by 45.5% in the 4th quarter. Principal Securities Inc. now owns 927 shares of the company’s stock valued at $39,000 after buying an additional 290 shares in the last quarter. Kentucky Trust Co bought a new stake in shares of Campbell Soup during the 4th quarter worth approximately $42,000. Finally, Quent Capital LLC boosted its position in shares of Campbell Soup by 77.7% during the 4th quarter. Quent Capital LLC now owns 1,100 shares of the company’s stock worth $46,000 after acquiring an additional 481 shares in the last quarter. 52.35% of the stock is owned by institutional investors and hedge funds.

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.