Campbell’s (NASDAQ:CPB) Given New $35.00 Price Target at Barclays

Campbell’s (NASDAQ:CPB) had its price objective reduced by Barclays from $40.00 to $35.00 in a report released on Tuesday morning,Benzinga reports. They currently have an underweight rating on the stock.

CPB has been the topic of a number of other research reports. Jefferies Financial Group cut their price objective on shares of Campbell’s from $40.00 to $37.00 and set a “buy” rating on the stock in a research report on Wednesday, May 21st. Piper Sandler lowered their target price on shares of Campbell’s from $45.00 to $42.00 and set an “overweight” rating on the stock in a report on Friday, May 23rd. Evercore ISI lowered their target price on shares of Campbell’s from $46.00 to $41.00 and set an “in-line” rating on the stock in a report on Thursday, May 29th. Wells Fargo & Company lowered their target price on shares of Campbell’s from $40.00 to $34.00 and set an “equal weight” rating on the stock in a report on Friday, May 30th. Finally, Morgan Stanley started coverage on shares of Campbell’s in a report on Monday, March 24th. They issued an “equal weight” rating and a $40.00 target price on the stock. Five equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Campbell’s currently has a consensus rating of “Hold” and a consensus target price of $40.39.

Campbell’s Price Performance

CPB stock opened at $34.26 on Tuesday. The company has a 50 day simple moving average of $36.42 and a 200 day simple moving average of $39.17. The stock has a market cap of $10.22 billion, a price-to-earnings ratio of 18.72, a P/E/G ratio of 2.71 and a beta of 0.14. Campbell’s has a 1 year low of $32.95 and a 1 year high of $52.81. 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 (NASDAQ:CPB) last issued its quarterly earnings results on Monday, June 2nd. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.08. The business had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.44 billion. Campbell’s had a net margin of 5.57% and a return on equity of 23.79%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.75 earnings per share. Research analysts anticipate that Campbell’s will post 3.15 EPS for the current fiscal year.

Campbell’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 4th. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.56 annualized dividend and a dividend yield of 4.55%. Campbell’s’s payout ratio is currently 90.17%.

Insider Buying and Selling

In related news, EVP Charles A. Brawley III sold 2,498 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $40.03, for a total value of $99,994.94. Following the completion of the transaction, the executive vice president now directly owns 37,590 shares of the company’s stock, valued at approximately $1,504,727.70. This trade represents a 6.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 20.19% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Campbell’s by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 24,120,172 shares of the company’s stock valued at $962,877,000 after purchasing an additional 494,567 shares during the period. Van ECK Associates Corp boosted its holdings in Campbell’s by 6.1% in the 4th quarter. Van ECK Associates Corp now owns 9,247,213 shares of the company’s stock valued at $387,273,000 after purchasing an additional 531,281 shares during the period. Beutel Goodman & Co Ltd. boosted its holdings in Campbell’s by 0.5% in the 4th quarter. Beutel Goodman & Co Ltd. now owns 6,925,365 shares of the company’s stock valued at $290,034,000 after purchasing an additional 35,160 shares during the period. Geode Capital Management LLC boosted its holdings in Campbell’s by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 5,323,332 shares of the company’s stock valued at $222,420,000 after purchasing an additional 57,717 shares during the period. Finally, Invesco Ltd. boosted its holdings in Campbell’s by 6.9% in the 1st quarter. Invesco Ltd. now owns 4,965,668 shares of the company’s stock valued at $198,229,000 after purchasing an additional 320,120 shares during the period. 52.35% of the stock is owned by institutional investors.

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.