Campbell Soup (NASDAQ:CPB) Hits New 52-Week Low – Here’s Why

The Campbell Soup Company (NASDAQ:CPB)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $37.49 and last traded at $37.71, with a volume of 303999 shares changing hands. The stock had previously closed at $38.13.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Barclays cut their target price on shares of Campbell Soup from $49.00 to $46.00 and set an “underweight” rating for the company in a report on Friday, December 6th. Stephens reaffirmed an “overweight” rating on shares of Campbell Soup in a report on Wednesday, December 4th. Piper Sandler raised shares of Campbell Soup from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $47.00 to $56.00 in a research note on Thursday, November 14th. Citigroup cut their price target on Campbell Soup from $44.00 to $41.00 and set a “sell” rating for the company in a research note on Thursday, December 5th. Finally, DA Davidson reiterated a “neutral” rating and set a $51.00 price target on shares of Campbell Soup in a research report on Wednesday, December 4th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $50.17.

Campbell Soup Stock Down 0.4 %

The company has a quick ratio of 0.50, a current ratio of 0.91 and a debt-to-equity ratio of 1.74. The firm has a market capitalization of $11.12 billion, a PE ratio of 20.38, a price-to-earnings-growth ratio of 2.67 and a beta of 0.19. The business has a 50-day moving average price of $40.99 and a 200-day moving average price of $45.61.

Campbell Soup (NASDAQ:CPB) last posted its quarterly earnings results on Tuesday, December 3rd. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.02. Campbell Soup had a return on equity of 23.79% and a net margin of 5.57%. Equities research analysts forecast that The Campbell Soup Company will post 3.15 earnings per share for the current fiscal year.

Campbell Soup Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Thursday, January 2nd were paid a $0.39 dividend. The ex-dividend date was Thursday, January 2nd. This is a positive change from Campbell Soup’s previous quarterly dividend of $0.37. This represents a $1.56 dividend on an annualized basis and a yield of 4.18%. Campbell Soup’s payout ratio is currently 85.25%.

Insider Buying and Selling at Campbell Soup

In other news, EVP Anthony Sanzio sold 2,000 shares of Campbell Soup stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $41.90, for a total transaction of $83,800.00. Following the completion of the transaction, the executive vice president now owns 16,551 shares of the company’s stock, valued at $693,486.90. The trade was a 10.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 20.19% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Campbell Soup

A number of institutional investors have recently bought and sold shares of CPB. Franklin Resources Inc. grew its stake in Campbell Soup by 1,593.8% in the third quarter. Franklin Resources Inc. now owns 1,904,440 shares of the company’s stock worth $91,623,000 after purchasing an additional 1,792,005 shares in the last quarter. Raymond James Trust N.A. grew its position in Campbell Soup by 43.8% in the 3rd quarter. Raymond James Trust N.A. now owns 9,228 shares of the company’s stock valued at $451,000 after buying an additional 2,809 shares in the last quarter. FMR LLC increased its stake in shares of Campbell Soup by 34.2% during the third quarter. FMR LLC now owns 165,494 shares of the company’s stock valued at $8,096,000 after acquiring an additional 42,216 shares during the period. Centiva Capital LP bought a new stake in shares of Campbell Soup in the 3rd quarter worth $2,806,000. Finally, Smith Group Asset Management LLC bought a new position in shares of Campbell Soup during the 4th quarter valued at about $293,000. 52.35% of the stock is currently owned by hedge funds and other institutional investors.

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.