Piper Sandler Issues Pessimistic Forecast for Campbell’s (NASDAQ:CPB) Stock Price

Campbell’s (NASDAQ:CPB) had its price target cut by analysts at Piper Sandler from $41.00 to $35.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 13.05% from the stock’s current price.

Several other brokerages have also recently issued reports on CPB. Barclays dropped their target price on Campbell’s from $35.00 to $30.00 and set an “underweight” rating for the company in a report on Monday. Wells Fargo & Company dropped their target price on Campbell’s from $34.00 to $32.00 and set an “equal weight” rating for the company in a report on Wednesday, July 9th. DA Davidson dropped their target price on Campbell’s from $39.00 to $34.00 and set a “neutral” rating for the company in a report on Monday, June 9th. Morgan Stanley dropped their target price on Campbell’s from $40.00 to $35.00 and set an “equal weight” rating for the company in a report on Tuesday, June 3rd. Finally, Argus cut Campbell’s from a “buy” rating to a “hold” rating in a report on Friday, June 20th. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Campbell’s presently has a consensus rating of “Hold” and an average target price of $39.33.

Campbell’s Stock Up 1.8%

NASDAQ CPB opened at $30.96 on Tuesday. The business has a fifty day moving average price of $32.98 and a 200 day moving average price of $36.73. Campbell’s has a one year low of $29.39 and a one year high of $52.81. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.33 and a current ratio of 0.78. The company has a market cap of $9.23 billion, a P/E ratio of 20.50, a P/E/G ratio of 8.88 and a beta of 0.08.

Campbell’s (NASDAQ:CPB) last posted its quarterly earnings data on Monday, June 2nd. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.65 by $0.08. Campbell’s had a return on equity of 23.22% and a net margin of 4.44%. The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the prior year, the company earned $0.75 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year. Research analysts anticipate that Campbell’s will post 3.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Campbell’s

A number of hedge funds and other institutional investors have recently bought and sold shares of CPB. Manchester Capital Management LLC raised its position in Campbell’s by 923.2% in the 1st quarter. Manchester Capital Management LLC now owns 706 shares of the company’s stock valued at $28,000 after purchasing an additional 637 shares in the last quarter. ORG Partners LLC raised its position in Campbell’s by 77.3% in the 2nd quarter. ORG Partners LLC now owns 906 shares of the company’s stock valued at $29,000 after purchasing an additional 395 shares in the last quarter. NBC Securities Inc. acquired a new stake in Campbell’s in the 1st quarter valued at about $31,000. Geneos Wealth Management Inc. raised its position in Campbell’s by 333.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 975 shares of the company’s stock valued at $39,000 after purchasing an additional 750 shares in the last quarter. Finally, Riverview Trust Co acquired a new stake in Campbell’s in the 1st quarter valued at about $46,000. 52.35% of the stock is currently owned by hedge funds and other institutional investors.

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.