Royal Bank of Canada Lowers Campbell Soup (NASDAQ:CPB) Price Target to $44.00

Campbell Soup (NASDAQ:CPB) had its price target dropped by stock analysts at Royal Bank of Canada from $51.00 to $44.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 12.06% from the stock’s previous close.

A number of other research analysts also recently weighed in on CPB. Bank of America cut their price objective on Campbell Soup from $45.00 to $41.00 and set an “underperform” rating on the stock in a research note on Thursday. Barclays reduced their price objective on shares of Campbell Soup from $49.00 to $46.00 and set an “underweight” rating for the company in a research note on Friday, December 6th. Piper Sandler upgraded shares of Campbell Soup from a “neutral” rating to an “overweight” rating and raised their target price for the company from $47.00 to $56.00 in a research note 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 report on Wednesday, December 4th. Finally, Jefferies Financial Group lowered their price target on Campbell Soup from $42.00 to $40.00 and set a “hold” rating on the stock in a research report on Wednesday. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $46.36.

Campbell Soup Stock Up 0.2 %

NASDAQ CPB traded up $0.09 during trading on Thursday, reaching $39.27. The company’s stock had a trading volume of 173,469 shares, compared to its average volume of 2,554,604. 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 stock has a market capitalization of $11.71 billion, a PE ratio of 21.46, a PEG ratio of 2.71 and a beta of 0.19. Campbell Soup has a 1-year low of $36.92 and a 1-year high of $52.81. The business has a 50-day moving average price of $39.43 and a 200-day moving average price of $44.39.

Campbell Soup (NASDAQ:CPB) last released its quarterly earnings data 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 business had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.74 billion. Campbell Soup had a net margin of 5.57% and a return on equity of 23.79%. The business’s revenue was up 9.3% on a year-over-year basis. On average, research analysts forecast that Campbell Soup will post 3.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Campbell Soup news, EVP Anthony Sanzio sold 2,000 shares of Campbell Soup 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 completion of the transaction, the executive vice president now directly owns 16,551 shares of the company’s stock, valued at approximately $693,486.90. This trade represents a 10.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 20.19% of the company’s stock.

Hedge Funds Weigh In On Campbell Soup

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Campbell Soup by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 23,625,605 shares of the company’s stock worth $989,440,000 after acquiring an additional 447,203 shares in the last quarter. State Street Corp grew its holdings in shares of Campbell Soup by 3.1% during the third quarter. State Street Corp now owns 10,048,679 shares of the company’s stock worth $491,581,000 after purchasing an additional 298,203 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Campbell Soup by 6.1% in the fourth quarter. Van ECK Associates Corp now owns 9,247,213 shares of the company’s stock valued at $387,273,000 after buying an additional 531,281 shares during the last quarter. Beutel Goodman & Co Ltd. lifted its position in Campbell Soup by 0.5% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 6,925,365 shares of the company’s stock worth $290,034,000 after buying an additional 35,160 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Campbell Soup by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 5,323,332 shares of the company’s stock worth $222,420,000 after acquiring an additional 57,717 shares during the last quarter. 52.35% of the stock is currently owned by institutional investors and hedge funds.

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.