Wells Fargo & Company Issues Pessimistic Forecast for Campbell’s (NASDAQ:CPB) Stock Price

Campbell’s (NASDAQ:CPB) had its price objective reduced by analysts at Wells Fargo & Company from $34.00 to $32.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 4.95% from the stock’s current price.

Several other research analysts also recently commented on CPB. Stephens decreased their price target on shares of Campbell’s from $48.00 to $43.00 in a research note on Wednesday, May 28th. Barclays decreased their target price on shares of Campbell’s from $40.00 to $35.00 and set an “underweight” rating on the stock in a research note on Tuesday, June 3rd. Argus downgraded shares of Campbell’s from a “buy” rating to a “hold” rating in a research note on Friday, June 20th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Campbell’s from $43.00 to $39.00 and set a “hold” rating on the stock in a research note on Wednesday, May 21st. Finally, UBS Group started coverage on shares of Campbell’s in a research note on Wednesday, April 23rd. They issued a “sell” rating and a $36.00 target price on the stock. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $40.00.

Campbell’s Trading Down 0.8%

Shares of CPB opened at $30.49 on Wednesday. The firm’s 50 day simple moving average is $33.35 and its 200 day simple moving average is $37.03. The company has a market capitalization of $9.09 billion, a P/E ratio of 20.19, a P/E/G ratio of 8.97 and a beta of 0.08. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.78 and a quick ratio of 0.33. Campbell’s has a 1-year low of $29.39 and a 1-year high of $52.81.

Campbell’s (NASDAQ:CPB) last posted its quarterly earnings results on Monday, June 2nd. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.65 by $0.08. The firm had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.44 billion. Campbell’s had a net margin of 4.44% and a return on equity of 23.22%. The business’s revenue was up 4.5% compared to the same quarter last year. During the same period last year, the firm posted $0.75 earnings per share. Sell-side analysts forecast that Campbell’s will post 3.15 earnings per share for the current fiscal year.

Institutional Trading of Campbell’s

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Campbell’s by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 24,120,172 shares of the company’s stock valued at $962,877,000 after buying an additional 494,567 shares in the last quarter. Beutel Goodman & Co Ltd. boosted its holdings in shares of Campbell’s by 0.5% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 6,925,365 shares of the company’s stock valued at $290,034,000 after buying an additional 35,160 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Campbell’s by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 5,323,332 shares of the company’s stock valued at $222,420,000 after buying an additional 57,717 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Campbell’s by 6.9% during the 1st quarter. Invesco Ltd. now owns 4,965,668 shares of the company’s stock valued at $198,229,000 after buying an additional 320,120 shares in the last quarter. Finally, Brandywine Trust Co. boosted its holdings in shares of Campbell’s by 1.8% during the 4th quarter. Brandywine Trust Co. now owns 4,867,984 shares of the company’s stock valued at $203,871,000 after buying an additional 84,778 shares in the last quarter. 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.