Citigroup Cuts Campbell Soup (NASDAQ:CPB) Price Target to $37.00

Campbell Soup (NASDAQ:CPB) had its price target lowered by investment analysts at Citigroup from $39.00 to $37.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “sell” rating on the stock. Citigroup’s target price would indicate a potential downside of 5.77% from the company’s previous close.

A number of other equities research analysts have also recently commented on the stock. BNP Paribas raised shares of Campbell Soup to a “strong sell” rating in a research note on Wednesday, February 26th. Stifel Nicolaus cut their price objective on shares of Campbell Soup from $47.00 to $40.00 and set a “hold” rating for the company in a report on Friday, January 24th. Stephens reiterated an “overweight” rating on shares of Campbell Soup in a research report on Wednesday, December 4th. DA Davidson restated a “neutral” rating and set a $51.00 target price on shares of Campbell Soup in a research report on Wednesday, December 4th. Finally, Piper Sandler upgraded Campbell Soup from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $47.00 to $56.00 in a research note on Thursday, November 14th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $46.36.

Campbell Soup Stock Performance

Shares of CPB stock traded up $0.09 during trading hours on Thursday, hitting $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 company has a 50 day moving average of $39.43 and a 200 day moving average of $44.39. Campbell Soup has a 12-month low of $36.92 and a 12-month high of $52.81. The stock has a market cap of $11.71 billion, a PE ratio of 21.46, a price-to-earnings-growth ratio of 2.71 and a beta of 0.19.

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

Insider Buying and Selling

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

Institutional Investors Weigh In On Campbell Soup

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in 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 purchasing an additional 447,203 shares during the period. State Street Corp increased its holdings in shares of Campbell Soup by 3.1% during the 3rd 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 raised its position in shares of Campbell Soup by 6.1% during the 4th 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 period. Beutel Goodman & Co Ltd. lifted its holdings in Campbell Soup by 0.5% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 6,925,365 shares of the company’s stock valued at $290,034,000 after acquiring an additional 35,160 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Campbell Soup by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 5,323,332 shares of the company’s stock valued at $222,420,000 after acquiring an additional 57,717 shares during the last quarter. Hedge funds and other institutional investors own 52.35% of the company’s stock.

Campbell Soup Company Profile

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.