Campbell’s (NASDAQ:CPB) Given New $33.00 Price Target at Citigroup

Campbell’s (NASDAQ:CPB) had its price objective lowered by stock analysts at Citigroup from $37.00 to $33.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “sell” rating on the stock. Citigroup’s price target suggests a potential downside of 7.04% from the stock’s previous close.

Several other brokerages have also weighed in on CPB. JPMorgan Chase & Co. lowered Campbell’s from an “overweight” rating to a “neutral” rating and cut their price target for the company from $48.00 to $37.00 in a research note on Thursday, March 6th. Wells Fargo & Company reduced their target price on Campbell’s from $43.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 6th. BNP Paribas raised shares of Campbell’s to a “strong sell” rating in a research report on Wednesday, February 26th. Jefferies Financial Group decreased their price target on shares of Campbell’s from $42.00 to $40.00 and set a “hold” rating for the company in a report on Wednesday, March 5th. Finally, DA Davidson lowered their target price on Campbell’s from $46.00 to $39.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $44.00.

Campbell’s Price Performance

CPB stock traded down $0.02 during mid-day trading on Monday, hitting $35.50. 701,025 shares of the stock were exchanged, compared to its average volume of 2,798,566. The stock has a market capitalization of $10.59 billion, a price-to-earnings ratio of 19.40, a PEG ratio of 2.71 and a beta of 0.14. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.91 and a quick ratio of 0.50. Campbell’s has a 12 month low of $34.27 and a 12 month high of $52.81. The business has a fifty day moving average price of $37.45 and a 200 day moving average price of $40.05.

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

Insider Activity

In other Campbell’s news, EVP Charles A. Brawley III sold 2,498 shares of Campbell’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $40.03, for a total value of $99,994.94. Following the completion of the sale, the executive vice president now directly 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 SEC, which is accessible through this hyperlink. 20.19% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Campbell’s

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Manchester Capital Management LLC boosted its stake in shares of Campbell’s by 923.2% during the first quarter. Manchester Capital Management LLC now owns 706 shares of the company’s stock valued at $28,000 after purchasing an additional 637 shares during the period. NBC Securities Inc. bought a new position in Campbell’s during the first quarter valued at $31,000. Sherman Asset Management Inc. bought a new position in Campbell’s during the 4th quarter valued at about $36,000. Principal Securities Inc. boosted its stake in shares of Campbell’s by 45.5% during the fourth 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, Kentucky Trust Co purchased a new stake in Campbell’s during the fourth quarter valued at approximately $42,000. 52.35% of the stock is currently owned by institutional investors.

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.