Campbell’s (NASDAQ:CPB) Price Target Lowered to $33.00 at Bank of America

Campbell’s (NASDAQ:CPB) had its price objective trimmed by Bank of America from $37.00 to $33.00 in a research report report published on Tuesday,Benzinga reports. The brokerage currently has an underperform rating on the stock.

CPB has been the subject of a number of other reports. UBS Group started coverage on shares of Campbell’s in a research report on Wednesday, April 23rd. They issued a “sell” rating and a $36.00 price target for the company. Morgan Stanley started coverage on shares of Campbell’s in a research report on Monday, March 24th. They issued an “equal weight” rating and a $40.00 price target for the company. BNP Paribas upgraded shares of Campbell’s to a “strong sell” rating in a research report on Wednesday, February 26th. Stephens dropped their price target on shares of Campbell’s from $48.00 to $43.00 in a research report on Wednesday, May 28th. Finally, Consumer Edge restated an “equal weight” rating on shares of Campbell’s in a research report on Monday, March 17th. Five research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $40.39.

Campbell’s Stock Up 0.0%

Shares of CPB stock opened at $34.26 on Tuesday. The stock has a market cap of $10.22 billion, a P/E ratio of 18.72, a P/E/G ratio of 2.71 and a beta of 0.14. Campbell’s has a 12 month low of $32.95 and a 12 month high of $52.81. The company has a 50 day simple moving average of $36.42 and a two-hundred day simple moving average of $39.17. The company has a current ratio of 0.91, a quick ratio of 0.50 and a debt-to-equity ratio of 1.74.

Campbell’s (NASDAQ:CPB) last posted its quarterly earnings results on Monday, June 2nd. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.08. The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.44 billion. Campbell’s had a net margin of 5.57% and a return on equity of 23.79%. The company’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 earnings per share. On average, research analysts expect that Campbell’s will post 3.15 earnings per share for the current year.

Campbell’s Dividend Announcement

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

Insider Buying and Selling at Campbell’s

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 shares were sold at an average price of $40.03, for a total transaction of $99,994.94. Following the completion of the transaction, the executive vice president now owns 37,590 shares in the company, valued at $1,504,727.70. This trade represents a 6.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 20.19% of the stock is owned by company insiders.

Hedge Funds Weigh In On Campbell’s

Institutional investors have recently bought and sold shares of the business. Inspire Investing LLC raised its stake in shares of Campbell’s by 27.1% in the first quarter. Inspire Investing LLC now owns 7,835 shares of the company’s stock valued at $313,000 after acquiring an additional 1,669 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of Campbell’s by 333.3% in the first quarter. Geneos Wealth Management Inc. now owns 975 shares of the company’s stock valued at $39,000 after acquiring an additional 750 shares during the period. SageView Advisory Group LLC purchased a new stake in shares of Campbell’s in the first quarter valued at $205,000. Bayforest Capital Ltd purchased a new stake in shares of Campbell’s in the first quarter valued at $354,000. Finally, Woodline Partners LP raised its stake in shares of Campbell’s by 40.9% in the first quarter. Woodline Partners LP now owns 16,623 shares of the company’s stock valued at $664,000 after acquiring an additional 4,827 shares during the period. Institutional investors own 52.35% of the company’s stock.

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.