Citigroup Has Lowered Expectations for Campbell’s (NASDAQ:CPB) Stock Price

Campbell’s (NASDAQ:CPB) had its target price cut by Citigroup from $33.00 to $32.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “sell” rating on the stock. Citigroup’s target price points to a potential downside of 5.01% from the company’s current price.

A number of other equities analysts also recently issued reports on the stock. BNP Paribas raised shares of Campbell’s to a “strong sell” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. downgraded shares of Campbell’s from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $48.00 to $37.00 in a report on Thursday, March 6th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Campbell’s from $43.00 to $39.00 and set a “hold” rating on the stock in a report on Wednesday, May 21st. UBS Group assumed coverage on shares of Campbell’s in a research report on Wednesday, April 23rd. They issued a “sell” rating and a $36.00 price target on the stock. Finally, Barclays dropped their target price on Campbell’s from $40.00 to $35.00 and set an “underweight” rating for the company in a research report on Tuesday. Five investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Campbell’s presently has a consensus rating of “Hold” and an average target price of $40.83.

Campbell’s Stock Performance

Shares of CPB stock opened at $33.69 on Tuesday. The company has a 50 day moving average price of $36.53 and a 200-day moving average price of $39.21. Campbell’s has a 52 week low of $32.95 and a 52 week high of $52.81. The firm has a market capitalization of $10.05 billion, a PE ratio of 18.41, a P/E/G 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.

Campbell’s (NASDAQ:CPB) last posted its quarterly earnings data on Monday, June 2nd. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.08. The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.44 billion. Campbell’s had a net margin of 5.57% and a return on equity of 23.79%. The firm’s revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.75 earnings per share. As a group, equities research analysts expect that Campbell’s will post 3.15 earnings per share for the current year.

Insider Activity at Campbell’s

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 transaction of $99,994.94. Following the sale, the executive vice president now owns 37,590 shares of the company’s stock, valued at $1,504,727.70. The trade was a 6.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 20.19% of the stock is owned by corporate insiders.

Institutional Trading of Campbell’s

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Manchester Capital Management LLC boosted 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 during the period. NBC Securities Inc. acquired a new stake in shares of Campbell’s in the first quarter valued at approximately $31,000. Sherman Asset Management Inc. acquired a new stake in shares of Campbell’s in the fourth quarter valued at approximately $36,000. Principal Securities Inc. boosted its holdings in shares of Campbell’s by 45.5% in the fourth quarter. Principal Securities Inc. now owns 927 shares of the company’s stock valued at $39,000 after acquiring an additional 290 shares during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Campbell’s by 333.3% during the first 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. 52.35% of the stock is currently owned by hedge funds and other 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.