Campbell Soup (NASDAQ:CPB) Price Target Cut to $40.00 by Analysts at Jefferies Financial Group

Campbell Soup (NASDAQ:CPB) had its price target decreased by analysts at Jefferies Financial Group from $42.00 to $40.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the stock. Jefferies Financial Group’s target price would suggest a potential upside of 2.09% from the company’s current price.

CPB has been the topic of a number of other reports. Royal Bank of Canada reissued a “sector perform” rating and set a $51.00 target price on shares of Campbell Soup in a report on Monday, December 2nd. Piper Sandler upgraded shares of Campbell Soup from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $47.00 to $56.00 in a report on Thursday, November 14th. DA Davidson reissued a “neutral” rating and set a $51.00 target price on shares of Campbell Soup in a research note on Wednesday, December 4th. Barclays lowered their price target on Campbell Soup from $49.00 to $46.00 and set an “underweight” rating for the company in a research report on Friday, December 6th. Finally, BNP Paribas upgraded shares of Campbell Soup to a “strong sell” rating in a research note on Wednesday, February 26th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $49.38.

Campbell Soup Stock Performance

Shares of CPB traded down $1.15 during midday trading on Wednesday, reaching $39.18. The stock had a trading volume of 7,638,131 shares, compared to its average volume of 2,568,282. The company has a current ratio of 0.91, a quick ratio of 0.50 and a debt-to-equity ratio of 1.74. The firm has a 50 day simple moving average of $39.48 and a 200-day simple moving average of $44.43. The firm has a market cap of $11.68 billion, a PE ratio of 21.41, a P/E/G ratio of 2.71 and a beta of 0.19. Campbell Soup has a one year low of $36.92 and a one year high of $52.81.

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

Insider Activity

In other news, EVP Anthony Sanzio sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $41.90, for a total value of $83,800.00. Following the completion of the transaction, the executive vice president now directly owns 16,551 shares in the company, valued at approximately $693,486.90. This trade represents a 10.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 20.19% of the stock is owned by company insiders.

Institutional Investors Weigh In On Campbell Soup

Large investors have recently added to or reduced their stakes in the business. Ballentine Partners LLC lifted its holdings in shares of Campbell Soup by 2.8% in the 4th quarter. Ballentine Partners LLC now owns 9,646 shares of the company’s stock worth $404,000 after acquiring an additional 262 shares during the last quarter. Principal Securities Inc. boosted its stake in Campbell Soup by 45.5% during the fourth quarter. Principal Securities Inc. now owns 927 shares of the company’s stock worth $39,000 after acquiring an additional 290 shares in the last quarter. SPC Financial Inc. grew its stake in shares of Campbell Soup by 2.3% in the fourth quarter. SPC Financial Inc. now owns 13,575 shares of the company’s stock worth $569,000 after acquiring an additional 300 shares during the last quarter. Ascent Wealth Partners LLC increased its position in shares of Campbell Soup by 1.5% during the fourth quarter. Ascent Wealth Partners LLC now owns 20,176 shares of the company’s stock valued at $845,000 after acquiring an additional 306 shares in the last quarter. Finally, DoubleLine ETF Adviser LP increased its holdings in Campbell Soup by 2.8% in the 4th quarter. DoubleLine ETF Adviser LP now owns 11,640 shares of the company’s stock worth $487,000 after buying an additional 312 shares in the last quarter. Institutional investors own 52.35% of the company’s stock.

About Campbell Soup

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.