Campbell Soup (NYSE:CPB) PT Raised to $42.00

Campbell Soup (NYSE:CPB) had its price objective increased by investment analysts at Citigroup from $41.00 to $42.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “sell” rating on the stock. Citigroup’s price objective would suggest a potential downside of 7.35% from the company’s current price.

CPB has been the topic of several other reports. Evercore ISI initiated coverage on shares of Campbell Soup in a research report on Wednesday, March 13th. They issued an “in-line” rating and a $49.00 price target on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $47.00 price objective on shares of Campbell Soup in a report on Thursday, March 14th. JPMorgan Chase & Co. boosted their price objective on Campbell Soup from $47.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Sanford C. Bernstein upgraded Campbell Soup from an “underperform” rating to a “market perform” rating and boosted their price objective for the stock from $42.00 to $46.00 in a report on Wednesday, May 15th. Finally, Piper Sandler restated a “neutral” rating and set a $47.00 price objective on shares of Campbell Soup in a report on Tuesday, March 26th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $46.41.

Campbell Soup Stock Performance

CPB stock opened at $45.33 on Thursday. The company has a quick ratio of 0.43, a current ratio of 1.01 and a debt-to-equity ratio of 1.17. The company has a 50-day simple moving average of $44.60 and a 200 day simple moving average of $43.34. Campbell Soup has a fifty-two week low of $37.94 and a fifty-two week high of $52.12. The company has a market capitalization of $13.51 billion, a P/E ratio of 17.71, a PEG ratio of 3.00 and a beta of 0.23.

Campbell Soup (NYSE:CPB) last issued its quarterly earnings results on Wednesday, March 6th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. Campbell Soup had a net margin of 8.26% and a return on equity of 23.18%. The firm had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.44 billion. During the same period in the previous year, the business earned $0.80 earnings per share. Campbell Soup’s revenue for the quarter was down 1.2% compared to the same quarter last year. Sell-side analysts predict that Campbell Soup will post 3.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Campbell Soup

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp grew its stake in shares of Campbell Soup by 16.6% in the first quarter. Van ECK Associates Corp now owns 8,548,557 shares of the company’s stock worth $379,983,000 after acquiring an additional 1,219,301 shares during the last quarter. Invesco Ltd. grew its stake in shares of Campbell Soup by 6.8% in the third quarter. Invesco Ltd. now owns 5,035,674 shares of the company’s stock worth $206,865,000 after acquiring an additional 318,983 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Campbell Soup by 21.2% in the first quarter. Bank of New York Mellon Corp now owns 3,315,516 shares of the company’s stock worth $147,375,000 after acquiring an additional 580,411 shares during the last quarter. Norges Bank acquired a new stake in shares of Campbell Soup in the fourth quarter worth $125,689,000. Finally, Northern Trust Corp grew its stake in shares of Campbell Soup by 4.7% in the third quarter. Northern Trust Corp now owns 2,845,931 shares of the company’s stock worth $116,911,000 after acquiring an additional 127,574 shares during the last quarter. Institutional investors and hedge funds own 52.35% of the company’s stock.

Campbell Soup Company Profile

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.