Citigroup Cuts Campbell’s (NASDAQ:CPB) Price Target to $33.00

Campbell’s (NASDAQ:CPB) had its target price cut by Citigroup from $37.00 to $33.00 in a research note released on Monday,Benzinga reports. They currently have a sell rating on the stock.

CPB has been the topic of a number of other research reports. Jefferies Financial Group lowered their price objective on Campbell’s from $42.00 to $40.00 and set a “hold” rating on the stock in a report on Wednesday, March 5th. BNP Paribas raised Campbell’s to a “strong sell” rating in a report on Wednesday, February 26th. Stifel Nicolaus decreased their price target on Campbell’s from $47.00 to $40.00 and set a “hold” rating on the stock in a research note on Friday, January 24th. JPMorgan Chase & Co. lowered Campbell’s from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $48.00 to $37.00 in a research note on Thursday, March 6th. Finally, Bank of America decreased their price target on Campbell’s from $45.00 to $41.00 and set an “underperform” rating on the stock in a research note on Thursday, March 6th. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $43.73.

Campbell’s Stock Performance

Shares of CPB stock opened at $34.23 on Monday. The stock has a market capitalization of $10.21 billion, a PE ratio of 18.70, a price-to-earnings-growth ratio of 2.71 and a beta of 0.14. Campbell’s has a 52-week low of $34.21 and a 52-week high of $52.81. The stock’s 50-day moving average price is $37.24 and its 200 day moving average price is $39.90. 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 issued its quarterly earnings results on Wednesday, March 5th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. The firm had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $2.74 billion. Campbell’s had a return on equity of 23.79% and a net margin of 5.57%. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, equities research analysts forecast that Campbell’s will post 3.15 EPS for the current year.

Campbell’s Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 4th. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.56%. Campbell’s’s payout ratio is 90.17%.

Insider Transactions at Campbell’s

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

Institutional Trading of Campbell’s

Large investors have recently added to or reduced their stakes in the stock. Manchester Capital Management LLC increased its holdings in Campbell’s by 923.2% in the 1st quarter. Manchester Capital Management LLC now owns 706 shares of the company’s stock valued at $28,000 after purchasing an additional 637 shares in the last quarter. NBC Securities Inc. acquired a new stake in Campbell’s in the 1st quarter valued at $31,000. Sherman Asset Management Inc. acquired a new stake in Campbell’s in the 4th quarter valued at $36,000. Principal Securities Inc. increased its holdings in Campbell’s by 45.5% in the 4th quarter. Principal Securities Inc. now owns 927 shares of the company’s stock valued at $39,000 after purchasing an additional 290 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in Campbell’s by 333.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 975 shares of the company’s stock valued at $39,000 after purchasing an additional 750 shares in the last quarter. 52.35% of the stock is currently owned by institutional investors and hedge funds.

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.