Campbell Soup (NASDAQ:CPB) Price Target Cut to $37.00 by Analysts at Citigroup

Campbell Soup (NASDAQ:CPB) had its price target lowered by equities researchers at Citigroup from $39.00 to $37.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “sell” rating on the stock. Citigroup’s target price would suggest a potential downside of 5.77% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. BNP Paribas upgraded shares of Campbell Soup to a “strong sell” rating in a report on Wednesday, February 26th. Piper Sandler upgraded shares of Campbell Soup from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $47.00 to $56.00 in a research note on Thursday, November 14th. Jefferies Financial Group decreased their price target on shares of Campbell Soup from $42.00 to $40.00 and set a “hold” rating for the company in a research note on Wednesday. Stifel Nicolaus dropped their price objective on Campbell Soup from $47.00 to $40.00 and set a “hold” rating on the stock in a research note on Friday, January 24th. Finally, DA Davidson restated a “neutral” rating and set a $51.00 price objective on shares of Campbell Soup in a report on Wednesday, December 4th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $46.36.

Campbell Soup Trading Up 0.2 %

NASDAQ:CPB traded up $0.09 during mid-day trading on Thursday, hitting $39.27. 173,469 shares of the stock traded hands, compared to its average volume of 2,554,604. The company has a quick ratio of 0.50, a current ratio of 0.91 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $11.71 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 2.71 and a beta of 0.19. Campbell Soup has a 52 week low of $36.92 and a 52 week high of $52.81. The firm’s 50 day moving average is $39.43 and its two-hundred day moving average is $44.39.

Campbell Soup (NASDAQ:CPB) last issued its quarterly earnings results 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. Campbell Soup had a return on equity of 23.79% and a net margin of 5.57%. The firm had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.74 billion. Campbell Soup’s revenue was up 9.3% on a year-over-year basis. On average, equities research analysts predict that Campbell Soup will post 3.15 earnings per share for the current year.

Insider Activity at Campbell Soup

In other news, EVP Anthony Sanzio sold 2,000 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was 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 approximately $693,486.90. This represents a 10.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 20.19% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CPB. US Bancorp DE boosted its holdings in Campbell Soup by 4.2% in the third quarter. US Bancorp DE now owns 33,571 shares of the company’s stock worth $1,642,000 after acquiring an additional 1,346 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Campbell Soup by 45.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,776 shares of the company’s stock valued at $87,000 after purchasing an additional 552 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in Campbell Soup by 2.2% in the 3rd quarter. Asset Management One Co. Ltd. now owns 276,794 shares of the company’s stock worth $13,541,000 after purchasing an additional 6,087 shares in the last quarter. QRG Capital Management Inc. grew its position in Campbell Soup by 9.7% during the 3rd quarter. QRG Capital Management Inc. now owns 15,723 shares of the company’s stock worth $769,000 after purchasing an additional 1,392 shares during the last quarter. Finally, Graypoint LLC increased its stake in Campbell Soup by 18.3% during the 3rd quarter. Graypoint LLC now owns 6,031 shares of the company’s stock valued at $295,000 after purchasing an additional 931 shares in the last quarter. 52.35% of the stock is currently owned by hedge funds and other institutional investors.

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.