Citigroup Boosts Campbell Soup (NYSE:CPB) Price Target to $42.00

Campbell Soup (NYSE:CPB) had its price target lifted by analysts at Citigroup from $41.00 to $42.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “sell” rating on the stock. Citigroup’s price objective would indicate a potential downside of 8.02% from the stock’s current price.

Several other research firms have also recently weighed in on CPB. DA Davidson started coverage on shares of Campbell Soup in a report on Friday, March 1st. They set a “buy” rating and a $48.00 price target on the stock. Sanford C. Bernstein raised shares of Campbell Soup from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $42.00 to $46.00 in a research note on Wednesday, May 15th. Royal Bank of Canada reissued a “sector perform” rating and issued a $47.00 price target on shares of Campbell Soup in a research note on Thursday, March 14th. Piper Sandler reaffirmed a “neutral” rating and issued a $47.00 price objective on shares of Campbell Soup in a research note on Tuesday, March 26th. Finally, JPMorgan Chase & Co. raised their price target on shares of Campbell Soup from $47.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Campbell Soup presently has a consensus rating of “Hold” and an average target price of $46.41.

Campbell Soup Price Performance

NYSE:CPB traded down $0.63 on Thursday, hitting $45.66. The company had a trading volume of 702,489 shares, compared to its average volume of 2,576,076. The stock has a market capitalization of $13.61 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 2.98 and a beta of 0.23. The company has a current ratio of 1.01, a quick ratio of 0.43 and a debt-to-equity ratio of 1.17. The firm has a 50 day moving average of $44.48 and a two-hundred day moving average of $43.29. Campbell Soup has a 52 week low of $37.94 and a 52 week high of $52.12.

Campbell Soup (NYSE:CPB) last announced its earnings results on Wednesday, March 6th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. Campbell Soup had a net margin of 8.26% and a return on equity of 23.18%. The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter last year, the firm earned $0.80 earnings per share. Campbell Soup’s quarterly revenue was down 1.2% on a year-over-year basis. On average, research analysts anticipate that Campbell Soup will post 3.05 earnings per share for the current year.

Institutional Trading of Campbell Soup

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Van ECK Associates Corp grew its position in shares of Campbell Soup by 16.6% during the first quarter. Van ECK Associates Corp now owns 8,548,557 shares of the company’s stock worth $379,983,000 after buying an additional 1,219,301 shares in the last quarter. Invesco Ltd. grew its holdings in Campbell Soup by 6.8% in the third quarter. Invesco Ltd. now owns 5,035,674 shares of the company’s stock valued at $206,865,000 after purchasing an additional 318,983 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Campbell Soup by 21.2% in the first quarter. Bank of New York Mellon Corp now owns 3,315,516 shares of the company’s stock valued at $147,375,000 after purchasing an additional 580,411 shares during the last quarter. Norges Bank purchased a new stake in shares of Campbell Soup in the fourth quarter valued at $125,689,000. Finally, Northern Trust Corp lifted its position in shares of Campbell Soup by 4.7% in the third quarter. Northern Trust Corp now owns 2,845,931 shares of the company’s stock valued at $116,911,000 after acquiring an additional 127,574 shares in the last quarter. 52.35% of the stock is owned by institutional investors and hedge funds.

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.