Campbell’s (NASDAQ:CPB) Price Target Cut to $42.00 by Analysts at Piper Sandler

Campbell’s (NASDAQ:CPB) had its target price lowered by Piper Sandler from $45.00 to $42.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

CPB has been the topic of several other research reports. UBS Group initiated coverage on shares of Campbell’s in a research report on Wednesday, April 23rd. They set a “sell” rating and a $36.00 price target on the stock. Consumer Edge reiterated an “equal weight” rating on shares of Campbell’s in a research report on Monday, March 17th. Royal Bank of Canada reduced their price target on shares of Campbell’s from $51.00 to $44.00 and set a “sector perform” rating on the stock in a research report on Thursday, March 6th. Jefferies Financial Group cut their target price on shares of Campbell’s from $42.00 to $40.00 and set a “hold” rating on the stock in a research report on Wednesday, March 5th. Finally, DA Davidson cut their target price on shares of Campbell’s from $46.00 to $39.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Five analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $42.80.

Campbell’s Stock Performance

Shares of NASDAQ:CPB opened at $33.50 on Friday. The company’s 50 day moving average price is $37.04 and its two-hundred day moving average price is $39.72. Campbell’s has a 12-month low of $32.95 and a 12-month high of $52.81. The firm has a market cap of $9.99 billion, a PE ratio of 18.31, a PEG ratio of 2.71 and a beta of 0.14. The company has a quick ratio of 0.50, a current ratio of 0.91 and a debt-to-equity ratio of 1.74.

Campbell’s (NASDAQ:CPB) last posted its quarterly earnings results on Wednesday, March 5th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.01. The business had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.74 billion. Campbell’s had a net margin of 5.57% and a return on equity of 23.79%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. Equities research analysts predict that Campbell’s will post 3.15 earnings per share for the current year.

Campbell’s Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 4th. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 4.66%. The ex-dividend date of this dividend is Thursday, July 3rd. Campbell’s’s payout ratio is currently 90.17%.

Insider Activity

In related news, EVP Charles A. Brawley III sold 2,498 shares of Campbell’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $40.03, for a total transaction of $99,994.94. Following the completion of the transaction, the executive vice president now owns 37,590 shares of the company’s stock, valued at $1,504,727.70. This trade represents a 6.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 20.19% of the company’s stock.

Hedge Funds Weigh In On Campbell’s

Hedge funds have recently bought and sold shares of the company. Manchester Capital Management LLC raised its stake in Campbell’s by 923.2% during the first quarter. Manchester Capital Management LLC now owns 706 shares of the company’s stock worth $28,000 after buying an additional 637 shares during the last quarter. NBC Securities Inc. bought a new position in Campbell’s during the first quarter worth $31,000. Sherman Asset Management Inc. bought a new position in Campbell’s during the fourth quarter worth $36,000. Principal Securities Inc. raised its stake in Campbell’s by 45.5% during the fourth quarter. Principal Securities Inc. now owns 927 shares of the company’s stock worth $39,000 after buying an additional 290 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in Campbell’s by 333.3% during the first quarter. Geneos Wealth Management Inc. now owns 975 shares of the company’s stock worth $39,000 after buying an additional 750 shares during the last quarter. Institutional investors own 52.35% of the company’s stock.

Campbell’s Company Profile

The Campbell’s Company, formerly known as 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.