Campbell Soup Downgraded to “Hold” at Argus Research (CPB)

Packaged foods maker Campbell Soup Company ( CPB ) late Wednesday caught a downgrade from analysts at Argus Research. The firm cut its rating on CPB from “Buy” to “Hold,” noting the company’s recent boost in promotional spending hasn’t panned out as well as planned. Additionally, Argus pointed out that Campbell’s 7.7% decline in soup sales in the past year was worse that the overall industry trend of a 6.8% decline. Accordingly, the analyst lowered its 2011 and 2012 earnings estimates for the company to slightly below the consensus view. Campbell Soup shares were mostly flat in premarket trading Thursday. The Bottom Line We have been recommending shares of Campbell Soup ( CPB ) since Dec.2, 2009, when the stock was trading at $35.56. The company has a 3.39% dividend yield, based on last night’s closing stock price of $34.23. Campbell Soup Company ( CPB ) is a “Recommended” dividend stock, holding a DARS™ Rating of 3.5 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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Campbell Soup Downgraded to “Hold” at Argus Research (CPB)

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