Equities research analysts at Sanford C. Bernstein cut their price objective on shares of Campbell Soup (NYSE:CPB) from $41.00 to $40.00 in a research note issued to investors on Wednesday, AnalystRatingsNetwork reports. The firm currently has a “market perform” rating on the stock. Sanford C. Bernstein’s price target indicates a potential upside of 3.63% from the stock’s previous close.
Shares of Campbell Soup (NYSE:CPB) traded down 1.53% on Wednesday, hitting $38.60. The stock had a trading volume of 5,343,656 shares. Campbell Soup has a 52 week low of $34.30 and a 52 week high of $48.83. The stock has a 50-day moving average of $41.71 and a 200-day moving average of $44.09. The company has a market cap of $12.101 billion and a price-to-earnings ratio of 27.20.
Campbell Soup (NYSE:CPB) last announced its earnings results on Tuesday, November 19th. The company reported $0.66 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.87 by $0.21. The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter last year, the company posted $0.88 earnings per share. Campbell Soup’s revenue was down 1.8% compared to the same quarter last year. Analysts expect that Campbell Soup will post $2.56 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, January 27th. Investors of record on Tuesday, January 7th will be given a dividend of $0.31 per share. This represents a $1.25 dividend on an annualized basis and a yield of 3.23%.
Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Suisse cut their price target on shares of Campbell Soup from $46.00 to $41.00 in a research note to investors on Wednesday. They now have a “neutral” rating on the stock. Separately, analysts at Morgan Stanley reiterated an “underweight” rating on shares of Campbell Soup in a research note to investors on Wednesday. They now have a $38.00 price target on the stock, down previously from $41.00. Finally, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Campbell Soup in a research note to investors on Wednesday. They now have a $43.00 price target on the stock, down previously from $47.00. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $42.00.
Campbell Soup Company (NYSE:CPB), together with its subsidiaries, is a manufacturer and marketer of branded convenience food products.
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