Campbell Soup (CPB) to Issue Quarterly Dividend of $0.37 on October 28th

Campbell Soup (NASDAQ:CPB) announced a quarterly dividend on Wednesday, September 18th, Zacks reports. Stockholders of record on Thursday, October 3rd will be paid a dividend of 0.37 per share on Monday, October 28th. This represents a $1.48 annualized dividend and a dividend yield of 3.03%. The ex-dividend date is Thursday, October 3rd.

Campbell Soup has raised its dividend by an average of 1.9% annually over the last three years. Campbell Soup has a dividend payout ratio of 46.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Campbell Soup to earn $3.39 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 43.7%.

Campbell Soup Price Performance

CPB opened at $48.92 on Tuesday. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.61 and a quick ratio of 0.22. The firm has a market capitalization of $14.61 billion, a PE ratio of 19.81, a price-to-earnings-growth ratio of 3.02 and a beta of 0.18. The business’s 50-day moving average is $49.48 and its two-hundred day moving average is $46.34. Campbell Soup has a 1 year low of $37.94 and a 1 year high of $52.81.

Campbell Soup (NASDAQ:CPB) last released its earnings results on Thursday, August 29th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.01. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. Campbell Soup had a net margin of 5.88% and a return on equity of 24.08%. Campbell Soup’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.50 EPS. Research analysts anticipate that Campbell Soup will post 3.18 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CPB shares. JPMorgan Chase & Co. lifted their price target 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. Royal Bank of Canada raised their price target on Campbell Soup from $47.00 to $51.00 and gave the stock a “sector perform” rating in a research report on Friday, September 13th. Barclays increased their target price on Campbell Soup from $45.00 to $49.00 and gave the stock an “underweight” rating in a research note on Thursday, September 12th. DA Davidson lowered shares of Campbell Soup from a “buy” rating to a “neutral” rating and set a $51.00 price objective for the company. in a research note on Friday. Finally, Argus upgraded shares of Campbell Soup from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $49.85.

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.