Campbell’s (NASDAQ:CPB) Price Target Lowered to $29.00 at Bank of America

Campbell’s (NASDAQ:CPB) had its price target lowered by Bank of America from $33.00 to $29.00 in a report issued on Tuesday morning,Benzinga reports. The firm currently has an underperform rating on the stock.

Several other equities research analysts have also recently commented on CPB. Piper Sandler reaffirmed a “neutral” rating and issued a $34.00 price objective (down from $35.00) on shares of Campbell’s in a research report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft cut their price target on Campbell’s from $43.00 to $39.00 and set a “hold” rating on the stock in a report on Wednesday, May 21st. DA Davidson decreased their price objective on Campbell’s from $39.00 to $34.00 and set a “neutral” rating for the company in a report on Monday, June 9th. Royal Bank Of Canada dropped their target price on Campbell’s from $44.00 to $38.00 and set a “sector perform” rating on the stock in a research report on Tuesday, June 3rd. Finally, UBS Group initiated coverage on Campbell’s in a research report on Wednesday, April 23rd. They set a “sell” rating and a $36.00 price target for the company. Three equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, Campbell’s currently has an average rating of “Reduce” and a consensus price target of $38.67.

Campbell’s Trading Up 1.1%

NASDAQ:CPB opened at $32.69 on Tuesday. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.78 and a quick ratio of 0.33. The business’s 50-day simple moving average is $31.89 and its 200-day simple moving average is $35.49. Campbell’s has a fifty-two week low of $29.39 and a fifty-two week high of $52.81. The stock has a market capitalization of $9.75 billion, a PE ratio of 21.65, a price-to-earnings-growth ratio of 10.20 and a beta of 0.08.

Campbell’s (NASDAQ:CPB) last announced its 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. Campbell’s had a net margin of 4.44% and a return on equity of 23.22%. The firm had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same period last year, the company posted $0.75 EPS. The business’s quarterly revenue was up 4.5% on a year-over-year basis. Campbell’s has set its FY 2025 guidance at 2.950-2.950 EPS. Sell-side analysts expect that Campbell’s will post 3.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Campbell’s

Several hedge funds and other institutional investors have recently made changes to their positions in the company. DoubleLine ETF Adviser LP lifted its stake in Campbell’s by 2.8% in the fourth quarter. DoubleLine ETF Adviser LP now owns 11,640 shares of the company’s stock valued at $487,000 after acquiring an additional 312 shares during the last quarter. New England Asset Management Inc. raised its holdings in shares of Campbell’s by 0.6% in the 1st quarter. New England Asset Management Inc. now owns 64,690 shares of the company’s stock valued at $2,582,000 after purchasing an additional 370 shares during the period. J.W. Cole Advisors Inc. lifted its stake in Campbell’s by 1.9% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 19,920 shares of the company’s stock valued at $611,000 after purchasing an additional 375 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Campbell’s by 22.4% during the second quarter. Farther Finance Advisors LLC now owns 2,102 shares of the company’s stock worth $64,000 after purchasing an additional 384 shares during the period. Finally, SBI Securities Co. Ltd. increased its position in Campbell’s by 66.8% during the second quarter. SBI Securities Co. Ltd. now owns 961 shares of the company’s stock worth $29,000 after buying an additional 385 shares during the last quarter. 52.35% of the stock is owned by 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.