Campbell’s (NASDAQ:CPB) Price Target Lowered to $38.00 at Royal Bank of Canada

Campbell’s (NASDAQ:CPB) had its price target reduced by investment analysts at Royal Bank of Canada from $44.00 to $38.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target points to a potential upside of 11.76% from the company’s current price.

Several other equities research analysts have also recently weighed in on CPB. UBS Group initiated coverage on shares of Campbell’s in a research report on Wednesday, April 23rd. They set a “sell” rating and a $36.00 price objective for the company. Consumer Edge reiterated an “equal weight” rating on shares of Campbell’s in a report on Monday, March 17th. Bank of America lowered their price objective on Campbell’s from $37.00 to $33.00 and set an “underperform” rating for the company in a research report on Tuesday. Morgan Stanley dropped their price objective on Campbell’s from $40.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Finally, Evercore ISI decreased their target price on Campbell’s from $46.00 to $41.00 and set an “in-line” rating for the company in a research note on Thursday, May 29th. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, Campbell’s presently has a consensus rating of “Hold” and a consensus target price of $40.39.

Campbell’s Trading Down 0.7%

Shares of CPB stock traded down $0.25 during mid-day trading on Tuesday, reaching $34.00. 2,995,813 shares of the stock traded hands, compared to its average volume of 2,894,540. The company has a market cap of $10.14 billion, a price-to-earnings ratio of 18.58, a price-to-earnings-growth ratio of 2.71 and a beta of 0.14. The company has a quick ratio of 0.50, a current ratio of 0.91 and a debt-to-equity ratio of 1.74. The stock’s fifty day simple moving average is $36.53 and its two-hundred day simple moving average is $39.21. Campbell’s has a 1-year low of $32.95 and a 1-year high of $52.81.

Campbell’s (NASDAQ:CPB) last issued its quarterly earnings data on Monday, June 2nd. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.08. Campbell’s had a net margin of 5.57% and a return on equity of 23.79%. The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter last year, the business earned $0.75 EPS. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. On average, research analysts anticipate that Campbell’s will post 3.15 EPS for the current fiscal year.

Insider Activity at Campbell’s

In related news, EVP Charles A. Brawley III sold 2,498 shares of the 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 sale, the executive vice president now directly owns 37,590 shares of the company’s stock, valued at approximately $1,504,727.70. This represents a 6.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 20.19% of the stock is owned by insiders.

Institutional Trading of Campbell’s

Institutional investors have recently made changes to their positions in the company. Manchester Capital Management LLC grew its holdings in shares of Campbell’s by 923.2% in the first quarter. Manchester Capital Management LLC now owns 706 shares of the company’s stock valued at $28,000 after acquiring an additional 637 shares in the last quarter. NBC Securities Inc. bought a new position in Campbell’s in the 1st quarter valued at $31,000. Sherman Asset Management Inc. purchased a new stake in shares of Campbell’s during the 4th quarter valued at $36,000. Principal Securities Inc. raised its stake in shares of Campbell’s by 45.5% during the 4th quarter. Principal Securities Inc. now owns 927 shares of the company’s stock worth $39,000 after purchasing an additional 290 shares during the period. Finally, Geneos Wealth Management Inc. raised its stake in shares of Campbell’s by 333.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 975 shares of the company’s stock worth $39,000 after purchasing an additional 750 shares during the period. Institutional investors own 52.35% of the company’s stock.

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.