Barclays Lowers Campbell’s (NASDAQ:CPB) Price Target to $35.00

Campbell’s (NASDAQ:CPB) had its target price dropped by equities researchers at Barclays from $40.00 to $35.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 2.19% from the stock’s current price.

CPB has been the subject of several other research reports. BNP Paribas raised shares of Campbell’s to a “strong sell” rating in a report on Wednesday, February 26th. Citigroup dropped their price target on shares of Campbell’s from $37.00 to $33.00 and set a “sell” rating on the stock in a research report on Monday, May 19th. JPMorgan Chase & Co. cut shares of Campbell’s from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $48.00 to $37.00 in a research report on Thursday, March 6th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Campbell’s from $43.00 to $39.00 and set a “hold” rating on the stock in a research report on Wednesday, May 21st. Finally, Piper Sandler dropped their price target on shares of Campbell’s from $45.00 to $42.00 and set an “overweight” rating on the stock in a research report on Friday, May 23rd. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $41.39.

Campbell’s Stock Performance

Shares of CPB opened at $34.25 on Tuesday. The company has a market cap of $10.21 billion, a price-to-earnings ratio of 18.72, a price-to-earnings-growth ratio of 2.71 and a beta of 0.14. The firm has a fifty day moving average of $36.53 and a 200-day moving average of $39.21. Campbell’s has a 1 year low of $32.95 and a 1 year high of $52.81. 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’s (NASDAQ:CPB) last posted its quarterly earnings data on Monday, June 2nd. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.08. Campbell’s had a net margin of 5.57% and a return on equity of 23.79%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.75 earnings per share. As a group, equities analysts anticipate that Campbell’s will post 3.15 earnings per share for the current year.

Insider Activity at Campbell’s

In related news, EVP Charles A. Brawley III sold 2,498 shares of the company’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $40.03, for a total value of $99,994.94. Following the completion of the transaction, the executive vice president now directly owns 37,590 shares in the company, valued at approximately $1,504,727.70. This represents a 6.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 20.19% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Geneos Wealth Management Inc. raised its stake in shares of Campbell’s by 333.3% in the first quarter. Geneos Wealth Management Inc. now owns 975 shares of the company’s stock valued at $39,000 after purchasing an additional 750 shares in the last quarter. SageView Advisory Group LLC acquired a new position in Campbell’s during the first quarter worth $205,000. Bayforest Capital Ltd acquired a new position in Campbell’s during the first quarter worth $354,000. Woodline Partners LP raised its stake in Campbell’s by 40.9% during the first quarter. Woodline Partners LP now owns 16,623 shares of the company’s stock worth $664,000 after acquiring an additional 4,827 shares in the last quarter. Finally, Empowered Funds LLC acquired a new position in Campbell’s during the first quarter worth $446,000. 52.35% of the stock is currently owned by institutional investors and hedge funds.

Campbell’s Company Profile

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.