Wells Fargo & Company Cuts Campbell Soup (NASDAQ:CPB) Price Target to $40.00

Campbell Soup (NASDAQ:CPB) had its price objective dropped by research analysts at Wells Fargo & Company from $43.00 to $40.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 2.09% from the company’s previous close.

A number of other research analysts have also recently commented on CPB. BNP Paribas upgraded Campbell Soup to a “strong sell” rating in a research note on Wednesday, February 26th. Jefferies Financial Group decreased their price target on Campbell Soup from $42.00 to $40.00 and set a “hold” rating on the stock in a research note on Wednesday. Stifel Nicolaus decreased their price target 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. Piper Sandler upgraded Campbell Soup from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $47.00 to $56.00 in a research note on Thursday, November 14th. Finally, Citigroup reduced their price objective on Campbell Soup from $44.00 to $41.00 and set a “sell” rating on the stock in a research note on Thursday, December 5th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $47.14.

Campbell Soup Trading Down 2.9 %

CPB opened at $39.18 on Thursday. Campbell Soup has a one year low of $36.92 and a one year high of $52.81. The stock has a market capitalization of $11.68 billion, a PE ratio of 21.41, a P/E/G ratio of 2.71 and a beta of 0.19. The business’s 50 day moving average price is $39.43 and its 200 day moving average price is $44.39. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.50 and a current ratio of 0.91.

Campbell Soup (NASDAQ:CPB) last released its quarterly earnings data on Wednesday, March 5th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $2.74 billion. Campbell Soup’s quarterly revenue was up 9.3% compared to the same quarter last year. As a group, equities research analysts expect that Campbell Soup will post 3.15 EPS for the current year.

Insiders Place Their Bets

In other Campbell Soup news, EVP Anthony Sanzio sold 2,000 shares of the firm’s stock in a transaction dated 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 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 document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 20.19% of the company’s stock.

Hedge Funds Weigh In On Campbell Soup

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Campbell Soup by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 23,625,605 shares of the company’s stock worth $989,440,000 after buying an additional 447,203 shares during 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 buying an additional 298,203 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Campbell Soup by 6.1% during the fourth quarter. Van ECK Associates Corp now owns 9,247,213 shares of the company’s stock worth $387,273,000 after buying an additional 531,281 shares during the last quarter. Beutel Goodman & Co Ltd. grew its holdings in shares of Campbell Soup by 0.5% during the fourth 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 during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Campbell Soup by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 5,323,332 shares of the company’s stock worth $222,420,000 after buying an additional 57,717 shares during the last quarter. Hedge funds and other 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.