Price Targets on (AFL) (BJRI) (CCSC) (CHS) (CPB) Updated

Price targets on shares of AFLAC (NYSE: AFL), BJ’s Restaurants, Inc. (NASDAQ: BJRI), Country Style Cookin (NASDAQ: CCSC), Chico’s (NYSE: CHS) and Campbell Soup Company (NYSE: CPB) were updated by analysts.

FBR Capital cut their price target on AFLAC (AFL) from $69.00 to $64.00. They have an “outperform” rating on the company.

Citigroup (NYSE:C) raised their price target on BJ’s Restaurants, Inc. (BJRI) to $56.00.

Piper Jaffray (NYSE:PJC) cut their price target on Country Style Cookin (CCSC) to $17.00.

Wedbush raised their price target on Chico’s (CHS) from $15.00 to $17.00. They have an “outperform” rating on the company.

JPMorgan Chase & Co. (NYSE:JPM) raised their price target on Campbell Soup Company (CPB) to $32.00.

Price Targets on (CPB) (GIS) (HSY) Raised

Price targets on Campbell Soup Company (NYSE: CPB), General Mills (NYSE: GIS) and Hershey (NYSE: HSY) were raised by analysts.

Deutsche Bank (NYSE:DB) raised their price target on Campbell Soup Company (CPB) from $31.00 to $33.00. They have a “hold” rating on the company.

Deutsche Bank raised their price target on General Mills (GIS) from $42.00 to $44.00. They have a “buy” rating on the company.

Deutsche Bank raised their price target on Hershey (HSY) from $51.00 to $53.00. They have a “hold” rating on the company.

Dividend Yields for (PM) (HNZ) (CPB) (KFT) (K)

Indicated dividend yields for Standard & Poor's 500 Index companies Philip Morris International (PM), HJ Heinz Co (HNZ), Campbell Soup Co (CPB), Kraft Foods Inc (KFT) and Kellogg Co (K).

These dividend data indicate dividend yields of companies in the Standard & Poor's 500 Index as of Saturday, April 30. The yield is determined by taking the latest declared dividend, annualized and divided by the price of the stock. Payout ratios are calculated based on latest quarterly dividend paid divided by earnings.

Philip Morris International (PM) has a dividend yield of 3.69 percent on a declared dividend of $0.64. The payout ratio is 59.8 percent.

HJ Heinz Co (HNZ) has a dividend yield of 3.51 percent on a declared dividend of $0.45. The payout ratio is 52.8 percent.

Campbell Soup Co (CPB) has a dividend yield of 3.45 percent on a declared dividend of $0.29. The payout ratio is 40.6 percent.

Kraft Foods Inc (KFT) has a dividend yield of 3.45 percent on a declared dividend of $0.29. The payout ratio is 94.0 percent.

Kellogg Co (K) has a dividend yield of 3.00 percent on a declared dividend of $0.41. The payout ratio is 78.9 percent.

ConAgra (NYSE:CAG), Campbells (NYSE:CPB), General Mills (NYSE:GIS) Face Unpredictability

According to Barclays (NYSE:BCS), they see the models being used to evaluate companies like ConAgra (NYSE:CAG), Campbells (NYSE:CPB) and General Mills (NYSE:GIS) as being completely wrong, and they face a time of unpredictability going forward.

Barclays said, "What has become very clear to us over the last several quarters is that all of "our" models - and by that we mean both company and Wall Street models - have been inaccurate in assessing just how difficult the past two quarters would be for the food group. Looking forward, these same models may well prove just as wrong in predicting how achievable EPS growth acceleration might be over the next two quarters. Recall that Consensus estimates now imply about +11% EPS growth in F2H for such companies as CAG, Campbells, General Mills, etc. - vs. relatively anemic growth in F1H -- and call for a "hockey stick" cadence to their fiscal years.

"In our view, this sort of operating backdrop calls for a so-called "80% solution", as CPB CEO Conant recently termed it. That is, the reality is, in such an uncertain environment with an ever-shifting consumer, we believe food companies can't afford to wait for total clarity regarding strategic direction before acting. Instead, they must hope that they're "right enough" and be quick to course correct as circumstances change."

Barclays maintains an "Equalweight" on ConAgra, which closed Wednesday at $22.49, up $0.09, or 0.40 percent. Barclays has a price target on them of $25.

Campbell Soup closed at $34.33, down $0.23, or 0.67 percent. General Mills closed at $35.61, up $0.18, or 0.51 percent.

Goldman (NYSE:GS) Shrinks Estimates on Coca-Cola (NYSE:KO), Philip Morris (NYSE:PM), Sara Lee (NYSE:SLE) and Coca-Cola Enterprises (NYSE:CCE) on Forex

Citing the strengthening of the U.S. dollar in the midst of the sovereign debt crisis in Europe, Goldman Sachs (NYSE:GS) has lowered their estimates on a number of food, beverage and tobacco stocks, with Goldman saying Coca-Cola (NYSE:KO), Philip Morris International, Inc. (NYSE:PM), Sara Lee Corp. (NYSE:SLE) and Coca-Cola Enterprises Inc. (NYSE:CCE) expected to have the most negative impact on them.

For the broader food, beverage, & tobacco sector, Goldman lowered the estimates by a range of 1 to 2 percent. For the companies named above, they're estimates were lowered by a range of 2 to 3 percent.

Below are the changed EPS estimates of Goldman for the companies in the sector:

Coca-Cola: reiterated FY10 EPS at $3.50, full year 2011 lowered from $3.90 to $3.83.

Coca-Cola Enterprises: kept full year 2010 EPS at $3.50, full year 2011 lowered from $2.04 to $1.99.

Kellogg Company (NYSE:K): maintained full year 2010 EPS at $3.29, full year 2011 lowered from $3.50 to $3.48

Campbell Soup (NYSE:CPB): cut full year 2011 EPS estimates from $2.50 to $2.48 and full year 2012 from $2.68 to $2.65.

Kraft Foods Inc. (NYSE:KFT): maintained full year 2010 EPS at $3.29, full year 2011 dropped from $2.28 to $2.25.

PepsiCo, Inc. (NYSE:PEP): maintained full year 2010 EPS at $4.12, full year 2011 lowered from $4.65 to $4.63.

Philip Morris International Inc.: full year 2010 lowered from $3.89 to $3.85, full year 2011 lowered from $4.62 to $4.45.

Sara Lee Corp.: full year 2011 EPS lowered form $0.86 to $0.84, full year 2012 lowered from $0.95 to $0.91.

Fortune Brands (NYSE:FO): reiterated full year 2010 EPS at $2.77, full year 2011 lowered from $3.68 to $3.66

Coca-Cola was trading at $64.64, gaining $1.47, or 2.32 percent at 1:16 PM EST. Coca-Cola Enterprises was at $24.65, increasing by $0.50, or 2.07 percent. Philip Morris International, Inc. was at $57.62, rising by $0.73, or 1.28 percent, Sara Lee Corp. was up to $15.29, increasing $0.29, or 1.93 percent. Kellog rose to $49.42, gaining $0.19, or 0.39 percent. Campbell Soup increased to $34.15, rising by $0.25, or 0.74 percent. Kraft pushed to $30.65, rising $0.40, or 1.32 percent. Pepsico pressed to $65.36, gaining $1.21, or 1.89 percent. Fortune Brands rose to $60.54, increasing by $1.45, or 2.45 percent.

Interesting that all the stocks mentioned by Goldman were up today in spite of the Forex concerns.