Citigroup Has Lowered Expectations for Campbell’s (NASDAQ:CPB) Stock Price

Campbell’s (NASDAQ:CPB) had its price target trimmed by Citigroup from $33.00 to $32.00 in a report issued on Tuesday morning,Benzinga reports. They currently have a sell rating on the stock.

Other equities analysts have also issued reports about the company. DA Davidson lowered their price target on Campbell’s from $46.00 to $39.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. UBS Group initiated coverage on Campbell’s in a report on Wednesday, April 23rd. They set a “sell” rating and a $36.00 price objective on the stock. Deutsche Bank Aktiengesellschaft cut their target price on Campbell’s from $43.00 to $39.00 and set a “hold” rating for the company in a research note on Wednesday, May 21st. Evercore ISI reduced their target price on Campbell’s from $46.00 to $41.00 and set an “in-line” rating for the company in a research report on Thursday, May 29th. Finally, Stephens decreased their price target on shares of Campbell’s from $48.00 to $43.00 in a research note on Wednesday, May 28th. Five analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Campbell’s presently has an average rating of “Hold” and an average target price of $40.39.

Campbell’s Trading Down 0.5%

Shares of Campbell’s stock opened at $34.12 on Tuesday. Campbell’s has a 1 year low of $32.95 and a 1 year high of $52.81. The company’s fifty day simple moving average is $36.20 and its 200-day simple moving average is $39.07. The company has a market cap of $10.17 billion, a price-to-earnings ratio of 18.64, a PEG ratio of 2.71 and a beta of 0.14. 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’s (NASDAQ:CPB) last issued its quarterly earnings results on Monday, June 2nd. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.08. Campbell’s had a net margin of 5.57% and a return on equity of 23.79%. The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the prior year, the firm earned $0.75 EPS. The business’s revenue was up 4.5% on a year-over-year basis. As a group, sell-side analysts expect that Campbell’s will post 3.15 EPS for the current year.

Campbell’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 4th. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.39 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.56 annualized dividend and a yield of 4.57%. Campbell’s’s dividend payout ratio is 90.17%.

Insider Transactions at Campbell’s

In other Campbell’s news, EVP Charles A. Brawley III sold 2,498 shares of the business’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $40.03, for a total value of $99,994.94. Following the transaction, the executive vice president now owns 37,590 shares of the company’s stock, valued at approximately $1,504,727.70. The trade was a 6.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 20.19% of the company’s stock.

Institutional Trading of Campbell’s

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Manchester Capital Management LLC lifted its position in Campbell’s by 923.2% during the 1st quarter. Manchester Capital Management LLC now owns 706 shares of the company’s stock worth $28,000 after buying an additional 637 shares in the last quarter. NBC Securities Inc. bought a new position in shares of Campbell’s in the first quarter worth about $31,000. Sherman Asset Management Inc. acquired a new position in shares of Campbell’s during the fourth quarter worth approximately $36,000. Principal Securities Inc. lifted its position in shares of 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 purchasing an additional 290 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in shares of Campbell’s by 333.3% during the first quarter. Geneos Wealth Management Inc. now owns 975 shares of the company’s stock valued at $39,000 after purchasing an additional 750 shares during the last quarter. 52.35% of the stock is currently owned by institutional investors and hedge funds.

About Campbell’s

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.