Bank of America Issues Pessimistic Forecast for Campbell’s (NASDAQ:CPB) Stock Price

Campbell’s (NASDAQ:CPB) had its target price cut by investment analysts at Bank of America from $41.00 to $37.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “underperform” rating on the stock. Bank of America‘s target price would indicate a potential upside of 8.47% from the stock’s current price.

Several other research analysts have also issued reports on the company. BNP Paribas upgraded Campbell’s to a “strong sell” rating in a research report on Wednesday, February 26th. Morgan Stanley started coverage on Campbell’s in a research report on Monday, March 24th. They set an “equal weight” rating and a $40.00 target price for the company. Jefferies Financial Group dropped their target price on Campbell’s from $42.00 to $40.00 and set a “hold” rating for the company in a research report on Wednesday, March 5th. Stifel Nicolaus dropped their target price on Campbell’s from $47.00 to $40.00 and set a “hold” rating for the company in a research report on Friday, January 24th. Finally, UBS Group started coverage on Campbell’s in a research report on Wednesday, April 23rd. They set a “sell” rating and a $36.00 target price for the company. Five equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $43.73.

Campbell’s Trading Down 0.4%

Shares of NASDAQ CPB opened at $34.11 on Wednesday. The business’s 50 day moving average is $37.15 and its two-hundred day moving average is $39.82. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.91 and a quick ratio of 0.50. Campbell’s has a 1-year low of $33.76 and a 1-year high of $52.81. The stock has a market capitalization of $10.17 billion, a P/E ratio of 18.64, a PEG ratio of 2.71 and a beta of 0.14.

Campbell’s (NASDAQ:CPB) last issued its quarterly earnings data on Wednesday, March 5th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.01. Campbell’s had a return on equity of 23.79% and a net margin of 5.57%. The company had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $2.74 billion. The firm’s revenue was up 9.3% compared to the same quarter last year. As a group, research analysts expect that Campbell’s will post 3.15 EPS for the current year.

Insiders Place Their Bets

In other Campbell’s 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 transaction of $99,994.94. Following the completion of the sale, the executive vice president now owns 37,590 shares in the company, valued at $1,504,727.70. This represents a 6.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 20.19% of the stock is owned by company insiders.

Institutional Trading of Campbell’s

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Campbell’s by 2.1% during the first quarter. Vanguard Group Inc. now owns 24,120,172 shares of the company’s stock worth $962,877,000 after buying an additional 494,567 shares during the period. Van ECK Associates Corp lifted its holdings in Campbell’s by 6.1% during the fourth quarter. Van ECK Associates Corp now owns 9,247,213 shares of the company’s stock worth $387,273,000 after buying an additional 531,281 shares during the period. Beutel Goodman & Co Ltd. lifted its holdings in Campbell’s by 0.5% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 6,925,365 shares of the company’s stock worth $290,034,000 after buying an additional 35,160 shares during the period. Geode Capital Management LLC lifted its holdings in Campbell’s by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 5,323,332 shares of the company’s stock worth $222,420,000 after buying an additional 57,717 shares during the period. Finally, Invesco Ltd. lifted its holdings in Campbell’s by 6.9% during the first quarter. Invesco Ltd. now owns 4,965,668 shares of the company’s stock worth $198,229,000 after buying an additional 320,120 shares during the period. Hedge funds and other institutional investors own 52.35% of the company’s stock.

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.