Campbell Soup (NYSE:CPB) Given Sector Perform Rating at Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of Campbell Soup (NYSE:CPB) in a report published on Friday, Benzinga reports. The firm currently has a $47.00 price target on the stock.

Other equities analysts have also issued research reports about the stock. Bank of America cut their price target on shares of Campbell Soup from $51.00 to $49.00 in a report on Thursday, June 8th. JPMorgan Chase & Co. cut their price objective on Campbell Soup from $49.00 to $47.00 and set a neutral rating on the stock in a research note on Monday, August 21st. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Campbell Soup from $52.00 to $49.00 in a research report on Tuesday, August 8th. Piper Sandler dropped their price target on shares of Campbell Soup from $52.00 to $50.00 in a research report on Monday, June 26th. Finally, StockNews.com started coverage on shares of Campbell Soup in a research report on Thursday, August 17th. They set a hold rating for the company. Four research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $47.69.

Campbell Soup Price Performance

Shares of CPB opened at $40.89 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.92 and a debt-to-equity ratio of 1.25. The stock has a market cap of $12.19 billion, a PE ratio of 15.67, a PEG ratio of 3.15 and a beta of 0.32. Campbell Soup has a 12-month low of $40.76 and a 12-month high of $57.78. The business has a 50-day simple moving average of $44.59 and a two-hundred day simple moving average of $49.71.

Campbell Soup (NYSE:CPB) last released its quarterly earnings data on Thursday, August 31st. The company reported $0.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.50. The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.06 billion. Campbell Soup had a return on equity of 26.31% and a net margin of 8.46%. The firm’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.56 earnings per share. Analysts anticipate that Campbell Soup will post 3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Campbell Soup

A number of institutional investors have recently added to or reduced their stakes in CPB. Norges Bank purchased a new position in Campbell Soup in the fourth quarter worth $164,197,000. Envestnet Asset Management Inc. boosted its holdings in shares of Campbell Soup by 3,894.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,308,585 shares of the company’s stock worth $3,114,000 after buying an additional 2,250,789 shares during the last quarter. State Street Corp grew its position in Campbell Soup by 16.8% during the first quarter. State Street Corp now owns 12,182,043 shares of the company’s stock valued at $542,954,000 after buying an additional 1,749,650 shares during the period. Morgan Stanley increased its holdings in Campbell Soup by 66.9% during the fourth quarter. Morgan Stanley now owns 3,512,543 shares of the company’s stock worth $199,337,000 after buying an additional 1,408,175 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Campbell Soup by 6.3% in the first quarter. Vanguard Group Inc. now owns 23,259,524 shares of the company’s stock valued at $1,036,678,000 after acquiring an additional 1,387,605 shares during the last quarter. 50.73% of the stock is owned by institutional investors.

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.