Campbell's (NASDAQ:CPB) Cut to "Hold" at Argus

Argus cut shares of Campbell's (NASDAQ:CPB - Free Report) from a buy rating to a hold rating in a research note released on Friday, MarketBeat Ratings reports.

A number of other research analysts also recently issued reports on the company. Bank of America cut their price target on Campbell's from $37.00 to $33.00 and set an "underperform" rating on the stock in a report on Tuesday, June 3rd. JPMorgan Chase & Co. downgraded Campbell's from an "overweight" rating to a "neutral" rating and cut their price target for the company from $48.00 to $37.00 in a report on Thursday, March 6th. Piper Sandler cut their price target on Campbell's from $45.00 to $42.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. Barclays cut their price target on Campbell's from $40.00 to $35.00 and set an "underweight" rating on the stock in a report on Tuesday, June 3rd. Finally, Jefferies Financial Group dropped their target price on Campbell's from $40.00 to $37.00 and set a "buy" rating on the stock in a research note on Wednesday, May 21st. Five investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, Campbell's has a consensus rating of "Hold" and an average price target of $40.11.

Campbell's Trading Up 0.5%

CPB traded up $0.17 during trading on Friday, hitting $32.01. 4,882,987 shares of the stock were exchanged, compared to its average volume of 3,011,748. The firm has a 50 day simple moving average of $34.86 and a 200 day simple moving average of $37.98. The firm has a market cap of $9.54 billion, a price-to-earnings ratio of 21.20, a P/E/G ratio of 9.28 and a beta of 0.11. Campbell's has a 1 year low of $31.58 and a 1 year high of $52.81. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.33 and a current ratio of 0.78.

Campbell's (NASDAQ:CPB - Get Free Report) last released its quarterly earnings data on Monday, June 2nd. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.65 by $0.08. The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.44 billion. Campbell's had a return on equity of 23.22% and a net margin of 4.44%. Campbell's's quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the business posted $0.75 EPS. As a group, equities analysts expect that Campbell's will post 3.15 EPS for the current year.

Campbell's Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 4th. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.39 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.56 dividend on an annualized basis and a yield of 4.87%. Campbell's's dividend payout ratio is currently 103.31%.

Insiders Place Their Bets

In other news, EVP Charles A. Brawley III sold 2,498 shares of the business's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $40.03, for a total value of $99,994.94. Following the completion of the transaction, the executive vice president now owns 37,590 shares of the company's stock, valued at $1,504,727.70. The trade was a 6.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 20.19% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Campbell's

Several institutional investors and hedge funds have recently modified their holdings of the stock. Voya Investment Management LLC raised its holdings in Campbell's by 0.8% in the 1st quarter. Voya Investment Management LLC now owns 56,837 shares of the company's stock worth $2,269,000 after purchasing an additional 425 shares during the period. Howe & Rusling Inc. raised its holdings in Campbell's by 3.5% in the 1st quarter. Howe & Rusling Inc. now owns 11,786 shares of the company's stock worth $470,000 after purchasing an additional 400 shares during the period. Inspire Investing LLC raised its holdings in Campbell's by 27.1% in the 1st quarter. Inspire Investing LLC now owns 7,835 shares of the company's stock worth $313,000 after purchasing an additional 1,669 shares during the period. Geneos Wealth Management Inc. raised its holdings in Campbell's by 333.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 975 shares of the company's stock worth $39,000 after purchasing an additional 750 shares during the period. Finally, SageView Advisory Group LLC acquired a new position in Campbell's in the 1st quarter worth about $205,000. Institutional investors and hedge funds own 52.35% of the company's stock.

About Campbell's

The Campbell's Company, formerly known as 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.