Bank of America Has Lowered Expectations for Campbell's (NASDAQ:CPB) Stock Price

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Campbell's (NASDAQ:CPB - Get Free Report) had its target price dropped by equities researchers at Bank of America from $33.00 to $29.00 in a report released on Tuesday,Benzinga reports. The firm currently has an "underperform" rating on the stock. Bank of America's price objective points to a potential downside of 11.07% from the company's current price.

A number of other research analysts also recently issued reports on CPB. UBS Group began coverage on Campbell's in a report on Wednesday, April 23rd. They issued a "sell" rating and a $36.00 price target on the stock. Evercore ISI cut their price objective on Campbell's from $46.00 to $41.00 and set an "in-line" rating for the company in a research note on Thursday, May 29th. DA Davidson decreased their price target on Campbell's from $39.00 to $34.00 and set a "neutral" rating on the stock in a research note on Monday, June 9th. Royal Bank Of Canada dropped their price objective on Campbell's from $44.00 to $38.00 and set a "sector perform" rating on the stock in a report on Tuesday, June 3rd. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Campbell's from $43.00 to $39.00 and set a "hold" rating for the company in a research note on Wednesday, May 21st. Five research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $38.67.

Campbell's Stock Up 0.8%

NASDAQ CPB traded up $0.27 on Tuesday, reaching $32.61. The company had a trading volume of 586,619 shares, compared to its average volume of 4,115,594. Campbell's has a 52-week low of $29.39 and a 52-week high of $52.81. The stock has a market capitalization of $9.72 billion, a P/E ratio of 21.59, a P/E/G ratio of 10.25 and a beta of 0.08. The company's fifty day moving average is $31.91 and its 200 day moving average is $35.51. The company has a quick ratio of 0.33, a current ratio of 0.78 and a debt-to-equity ratio of 1.57.

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

Institutional Investors Weigh In On Campbell's

Several large investors have recently bought and sold shares of CPB. Nuveen LLC purchased a new position in Campbell's in the 1st quarter worth approximately $65,588,000. Two Sigma Advisers LP lifted its stake in shares of Campbell's by 272.7% during the 4th quarter. Two Sigma Advisers LP now owns 2,243,300 shares of the company's stock worth $93,949,000 after purchasing an additional 1,641,400 shares during the last quarter. Norges Bank purchased a new position in shares of Campbell's in the second quarter worth about $40,967,000. Man Group plc raised its stake in shares of Campbell's by 1,296.1% in the fourth quarter. Man Group plc now owns 1,407,161 shares of the company's stock worth $58,932,000 after purchasing an additional 1,306,372 shares during the last quarter. Finally, Raiffeisen Bank International AG acquired a new stake in shares of Campbell's in the fourth quarter worth approximately $48,468,000. 52.35% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.