CAMDEN, N.J. - Campbell Soup Company (NASDAQ:NYSE:CPB), a staple in the food industry for over a century and a half, has declared a regular quarterly dividend of $0.37 per share. Shareholders of record by the close of business on October 3, 2024, will be eligible for the dividend, which is scheduled for payment on October 28, 2024.
The announcement comes from the company's Board of Directors and continues Campbell's tradition of returning value to its shareholders. Known for its wide range of food and beverage products, Campbell Soup has been headquartered in Camden, New Jersey, since its inception in 1869. With a fiscal 2024 net sales report of $9.6 billion, the company's portfolio boasts well-known brands such as Campbell’s, Goldfish, and V8, among others.
Campbell Soup also emphasizes its commitment to social responsibility, with a history of community involvement and environmental stewardship. The company has been recognized for its efforts by being included in the Standard & Poor's 500 and indices such as the FTSE4Good and the Bloomberg Gender-Equality Index.
This dividend declaration is based on a press release statement from Campbell Soup Company and reflects the company's financial distributions to its shareholders. Campbell Soup continues to solidify its presence in the market and maintain its connection with consumers through its trusted and recognized brands.
In other recent news, Campbell Soup has been a focal point of several analyst firms. RBC Capital revised its price target for Campbell Soup to $51, citing improvements within the packaged food sector and the integration of Sovos into the firm's financial projections. TD Cowen also raised the company's stock price target to $51, following a strategic shift in the company's brand portfolio and financial initiatives.
Stifel maintained a consistent target of $50 while highlighting the company's growth forecast and margin goals. Wells Fargo increased its price target from $49 to $51, reflecting the company's diversified portfolio and revised earnings per share estimate for fiscal year 2026.
Campbell Soup reported strong fourth-quarter results for fiscal year 2024, with improved volume across divisions and double-digit growth in earnings before interest and taxes (EBIT) and earnings per share (EPS). The acquisition of Sovos Brands significantly contributed to these positive results.
For fiscal year 2025, Campbell Soup provided optimistic guidance, expecting net sales to grow approximately 9% to 11%, adjusted EBIT growth projected to be 9% to 11%, and adjusted earnings per share increasing 1% to 4%. These recent developments highlight Campbell Soup's strategic shifts and performance expectations in the face of changing market dynamics.
InvestingPro Insights
As Campbell Soup Company (NASDAQ:CPB) announces its latest dividend, investors may find it noteworthy that the company has upheld a robust tradition of dividend payments, having maintained them for an impressive 54 consecutive years. This demonstrates Campbell's long-term commitment to shareholder returns, a factor that is often appealing to income-focused investors. The consistency in dividends is complemented by a strong performance in the recent quarter, with a 15.53% total return over the last three months, indicating a positive short-term outlook for the company's stock.
From a financial standpoint, Campbell Soup's market capitalization stands at $15.27 billion, and it sports a price-to-earnings (P/E) ratio of 27.11. However, when adjusted for the last twelve months as of Q4 2024, the P/E ratio becomes more attractive at 17.49. Additionally, the company's revenue growth has been steady, with a 2.98% increase over the last twelve months leading up to Q4 2024, and an even more impressive quarterly revenue growth of 10.88% for the same period. These figures suggest that Campbell Soup is not only maintaining its market position but also expanding it.
For those interested in delving deeper into Campbell Soup's financial health and future prospects, there are additional InvestingPro Tips available. In particular, two critical tips for potential investors to consider are that analysts have recently revised their earnings expectations downwards for the upcoming period, and the company's short-term obligations currently exceed its liquid assets, which could indicate potential liquidity risks.
For a more comprehensive analysis and further insights, investors can find a total of 6 InvestingPro Tips for Campbell Soup, including the ones mentioned above, by visiting https://www.investing.com/pro/CPB. These tips can provide valuable information for making informed investment decisions regarding Campbell Soup Company.
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