Campbell Soup Company (NYSE:CPB) announced a quarterly dividend on Thursday, November 16th, RTT News reports. Stockholders of record on Wednesday, January 10th will be paid a dividend of 0.35 per share on Monday, January 29th. This represents a $1.40 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Tuesday, January 9th.
Campbell Soup has increased its dividend payment by an average of 28.8% annually over the last three years. Campbell Soup has a dividend payout ratio of 47.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Campbell Soup to earn $3.12 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 44.9%.
Shares of Campbell Soup (CPB) opened at $46.72 on Thursday. The stock has a market capitalization of $14,245.77, a P/E ratio of 16.34, a PEG ratio of 3.73 and a beta of 0.39. Campbell Soup has a twelve month low of $44.99 and a twelve month high of $64.23. The company has a current ratio of 0.77, a quick ratio of 0.39 and a debt-to-equity ratio of 1.34.
Campbell Soup declared that its board has authorized a stock buyback plan on Monday, December 18th that authorizes the company to buyback outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.
In other Campbell Soup news, Director Charles R. Perrin sold 2,304 shares of the company’s stock in a transaction on Friday, October 6th. The stock was sold at an average price of $46.46, for a total value of $107,043.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Edward Carolan sold 6,500 shares of the company’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $48.15, for a total value of $312,975.00. Following the completion of the transaction, the insider now directly owns 41,506 shares in the company, valued at approximately $1,998,513.90. The disclosure for this sale can be found here. Insiders sold a total of 17,588 shares of company stock worth $848,443 in the last ninety days. 37.20% of the stock is currently owned by corporate insiders.
Several research firms have recently weighed in on CPB. Royal Bank of Canada cut their target price on Campbell Soup from $56.00 to $55.00 and set a “sector perform” rating on the stock in a research report on Monday, November 20th. Citigroup reissued a “neutral” rating and set a $54.00 target price (up previously from $50.00) on shares of Campbell Soup in a research report on Wednesday, December 20th. JPMorgan Chase & Co. reissued a “hold” rating and set a $50.00 target price on shares of Campbell Soup in a research report on Friday, December 15th. Piper Jaffray Companies reissued a “neutral” rating and set a $50.00 target price (down previously from $56.00) on shares of Campbell Soup in a research report on Monday, September 11th. Finally, Credit Suisse Group set a $41.00 target price on Campbell Soup and gave the company a “sell” rating in a research report on Friday, November 24th. Seven research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $49.83.
About Campbell Soup
Campbell Soup Company is a food company, which manufactures and markets food products. The Company’s segments include Americas Simple Meals and Beverages; Global Biscuits and Snacks, and Campbell Fresh. The Americas Simple Meals and Beverages segment includes the retail and food service channel businesses.
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