Campbell’s (NASDAQ:CPB) Price Target Cut to $32.00 by Analysts at Citigroup

Campbell’s (NASDAQ:CPB) had its target price trimmed by Citigroup from $33.00 to $32.00 in a research note released on Tuesday,Benzinga reports. The firm currently has a sell rating on the stock.

Several other equities analysts have also recently commented on the company. UBS Group started coverage on Campbell’s in a research note on Wednesday, April 23rd. They set a “sell” rating and a $36.00 target price for the company. Bank of America reduced their target price on Campbell’s from $37.00 to $33.00 and set an “underperform” rating for the company in a research note on Tuesday. Jefferies Financial Group reduced their target price on Campbell’s from $40.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday, May 21st. Morgan Stanley started coverage on Campbell’s in a research note on Monday, March 24th. They set an “equal weight” rating and a $40.00 target price for the company. Finally, Piper Sandler reduced their target price on Campbell’s from $45.00 to $42.00 and set an “overweight” rating for the company in a research note on Friday, May 23rd. Five analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Campbell’s has a consensus rating of “Hold” and an average target price of $40.39.

Campbell’s Stock Up 0.0%

NASDAQ CPB opened at $34.26 on Tuesday. The stock has a market cap of $10.22 billion, a PE ratio of 18.72, a P/E/G ratio of 2.71 and a beta of 0.14. Campbell’s has a fifty-two week low of $32.95 and a fifty-two week high of $52.81. The business has a 50 day moving average price of $36.42 and a two-hundred day moving average price of $39.17. 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 released its earnings results on Monday, June 2nd. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.65 by $0.08. The company had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.44 billion. Campbell’s had a return on equity of 23.79% and a net margin of 5.57%. The business’s revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 EPS. As a group, sell-side analysts predict that Campbell’s will post 3.15 EPS for the current fiscal year.

Campbell’s Announces Dividend

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

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Principal Securities Inc. increased its holdings in shares of Campbell’s by 45.5% during the fourth quarter. Principal Securities Inc. now owns 927 shares of the company’s stock valued at $39,000 after purchasing an additional 290 shares during the period. SPC Financial Inc. increased its holdings in shares of Campbell’s by 2.3% during the fourth quarter. SPC Financial Inc. now owns 13,575 shares of the company’s stock valued at $569,000 after purchasing an additional 300 shares during the period. Ascent Wealth Partners LLC increased its holdings in shares of Campbell’s by 1.5% during the fourth quarter. Ascent Wealth Partners LLC now owns 20,176 shares of the company’s stock valued at $845,000 after purchasing an additional 306 shares during the period. DoubleLine ETF Adviser LP increased its holdings in shares of Campbell’s by 2.8% during the fourth quarter. DoubleLine ETF Adviser LP now owns 11,640 shares of the company’s stock valued at $487,000 after purchasing an additional 312 shares during the period. Finally, Spire Wealth Management increased its holdings in shares of Campbell’s by 29.6% during the fourth quarter. Spire Wealth Management now owns 1,406 shares of the company’s stock valued at $59,000 after purchasing an additional 321 shares during the period. 52.35% of the stock is owned by institutional investors and hedge funds.

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.