Bank of America Cuts Campbell Soup (NASDAQ:CPB) Price Target to $41.00

Campbell Soup (NASDAQ:CPB) had its price target cut by stock analysts at Bank of America from $45.00 to $41.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “underperform” rating on the stock. Bank of America‘s target price would indicate a potential upside of 4.65% from the stock’s current price.

Other analysts also recently issued reports about the company. Piper Sandler upgraded Campbell Soup from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $47.00 to $56.00 in a research report on Thursday, November 14th. Barclays lowered their target price on shares of Campbell Soup from $49.00 to $46.00 and set an “underweight” rating for the company in a report on Friday, December 6th. Citigroup dropped their price target on shares of Campbell Soup from $44.00 to $41.00 and set a “sell” rating for the company in a research note on Thursday, December 5th. Jefferies Financial Group reduced their price objective on shares of Campbell Soup from $42.00 to $40.00 and set a “hold” rating on the stock in a research report on Wednesday. Finally, Stephens restated an “overweight” rating on shares of Campbell Soup in a research report on Wednesday, December 4th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Campbell Soup presently has a consensus rating of “Hold” and an average price target of $47.36.

Campbell Soup Stock Down 2.9 %

Shares of NASDAQ CPB opened at $39.18 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.50 and a debt-to-equity ratio of 1.74. Campbell Soup has a 12-month low of $36.92 and a 12-month high of $52.81. The firm’s 50-day moving average price is $39.43 and its 200-day moving average price is $44.39. The stock has a market capitalization of $11.68 billion, a price-to-earnings ratio of 21.41, a P/E/G ratio of 2.71 and a beta of 0.19.

Campbell Soup (NASDAQ:CPB) last issued its quarterly earnings data on Wednesday, March 5th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.01. The company had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $2.74 billion. Campbell Soup had a return on equity of 23.79% and a net margin of 5.57%. The firm’s revenue was up 9.3% compared to the same quarter last year. On average, equities research analysts anticipate that Campbell Soup will post 3.15 EPS for the current fiscal year.

Insider Activity

In related news, EVP Anthony Sanzio sold 2,000 shares of Campbell Soup stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $41.90, for a total transaction of $83,800.00. Following the transaction, the executive vice president now directly owns 16,551 shares of the company’s stock, valued at $693,486.90. This trade represents a 10.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 20.19% of the company’s stock.

Institutional Trading of Campbell Soup

Several hedge funds and other institutional investors have recently bought and sold shares of CPB. Franklin Resources Inc. raised its position in shares of Campbell Soup by 1,593.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,904,440 shares of the company’s stock worth $91,623,000 after acquiring an additional 1,792,005 shares in the last quarter. Two Sigma Advisers LP raised its holdings in Campbell Soup by 272.7% in the fourth quarter. Two Sigma Advisers LP now owns 2,243,300 shares of the company’s stock worth $93,949,000 after purchasing an additional 1,641,400 shares in the last quarter. Man Group plc lifted its position in shares of Campbell Soup by 1,296.1% during the fourth quarter. Man Group plc now owns 1,407,161 shares of the company’s stock valued at $58,932,000 after buying an additional 1,306,372 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Campbell Soup by 38.2% in the 4th quarter. Invesco Ltd. now owns 4,645,548 shares of the company’s stock valued at $194,556,000 after buying an additional 1,282,957 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Campbell Soup in the 4th quarter valued at about $50,908,000. Institutional investors own 52.35% of the company’s stock.

About Campbell Soup

Campbell Soup Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States and internationally. The company operates through Meals & Beverages and Snacks segments. The Meals & Beverages segment engages in the retail and foodservice businesses in the United States and Canada.