Fintel reports that on August 23, 2023, Goldman Sachs maintained coverage of Campbell Soup (NYSE:CPB) with a Sell recommendation.

Analyst Price Forecast Suggests 20.76% Upside

As of August 2, 2023, the average one-year price target for Campbell Soup is 50.59. The forecasts range from a low of 42.42 to a high of $58.80. The average price target represents an increase of 20.76% from its latest reported closing price of 41.89.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Campbell Soup is 9,298MM, an increase of 1.32%. The projected annual non-GAAP EPS is 3.01.

Campbell Soup Declares $0.37 Dividend

On May 23, 2023 the company declared a regular quarterly dividend of $0.37 per share ($1.48 annualized). Shareholders of record as of July 6, 2023 received the payment on July 31, 2023. Previously, the company paid $0.37 per share.

At the current share price of $41.89 / share, the stock’s dividend yield is 3.53%.

Looking back five years and taking a sample every week, the average dividend yield has been 3.18%, the lowest has been 2.60%, and the highest has been 4.34%. The standard deviation of yields is 0.36 (n=235).

The current dividend yield is 0.99 standard deviations above the historical average.

Additionally, the company’s dividend payout ratio is 0.54. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company’s 3-Year dividend growth rate is 0.06%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 1236 funds or institutions reporting positions in Campbell Soup. This is a decrease of 59 owner(s) or 4.56% in the last quarter. Average portfolio weight of all funds dedicated to CPB is 0.17%, a decrease of 11.94%. Total shares owned by institutions increased in the last three months by 0.74% to 161,799K shares. The put/call ratio of CPB is 0.78, indicating a bullish outlook.

What are Other Shareholders Doing?

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 6,018K shares representing 2.02% ownership of the company. In it’s prior filing, the firm reported owning 5,927K shares, representing an increase of 1.51%. The firm decreased its portfolio allocation in CPB by 9.18% over the last quarter.

Beutel, Goodman & Co holds 5,275K shares representing 1.77% ownership of the company. In it’s prior filing, the firm reported owning 5,155K shares, representing an increase of 2.27%. The firm decreased its portfolio allocation in CPB by 18.87% over the last quarter.

Brandywine Trust holds 4,873K shares representing 1.63% ownership of the company. In it’s prior filing, the firm reported owning 3,882K shares, representing an increase of 20.34%. The firm decreased its portfolio allocation in CPB by 14.75% over the last quarter.

Invesco holds 4,717K shares representing 1.58% ownership of the company. In it’s prior filing, the firm reported owning 4,413K shares, representing an increase of 6.44%. The firm decreased its portfolio allocation in CPB by 92.17% over the last quarter.

VFINX – Vanguard 500 Index Fund Investor Shares holds 4,678K shares representing 1.57% ownership of the company. In it’s prior filing, the firm reported owning 4,640K shares, representing an increase of 0.80%. The firm decreased its portfolio allocation in CPB by 9.43% over the last quarter.

Campbell Soup Background Information
(This description is provided by the company.)

Campbell is driven and inspired by our purpose, ‘Real food that matters for life’s moments.’ For generations, people have trusted Campbell to provide authentic, flavorful and affordable snacks, soups and simple meals, and beverages. Founded in 1869, Campbell has a heritage of giving back and acting as a good steward of the planet’s natural resources. The company is a member of the Standard and Poor’s 500 and the FTSE4Good Index.

This article originally appeared on Fintel

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