Campbell's' (CPB) "Neutral" Rating Reiterated at Piper Sandler

Key Points

• Piper Sandler has reiterated a neutral rating for Campbell's (NASDAQ:CPB) with a target price of $34.00, suggesting a potential upside of 3.99% from its current stock price.
• The company reported a 4.5% revenue increase year-over-year to $2.48 billion and surpassed earnings expectations with $0.73 EPS against a consensus estimate of $0.65.
• Currently, the stock holds a consensus rating of Hold from analysts, with five sell ratings, thirteen hold ratings, and three buy ratings noted.

Campbell's (NASDAQ:CPB - Get Free Report)'s stock had its "neutral" rating reissued by equities research analysts at Piper Sandler in a research note issued to investors on Thursday, Marketbeat Ratings reports. They presently have a $34.00 target price on the stock, down from their prior target price of $35.00. Piper Sandler's price objective points to a potential upside of 4.81% from the company's previous close.

CPB has been the topic of several other research reports. DA Davidson decreased their target price on Campbell's from $39.00 to $34.00 and set a "neutral" rating on the stock in a report on Monday, June 9th. Bank of America decreased their price objective on shares of Campbell's from $37.00 to $33.00 and set an "underperform" rating on the stock in a report on Tuesday, June 3rd. Morgan Stanley dropped their target price on shares of Campbell's from $40.00 to $35.00 and set an "equal weight" rating for the company in a research note on Tuesday, June 3rd. UBS Group began coverage on Campbell's in a research report on Wednesday, April 23rd. They issued a "sell" rating and a $36.00 price objective on the stock. Finally, Evercore ISI dropped their target price on Campbell's from $46.00 to $41.00 and set an "in-line" rating for the company in a research report on Thursday, May 29th. Five 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 stock currently has an average rating of "Hold" and a consensus price target of $39.06.

Campbell's Price Performance

CPB stock traded down $0.47 during trading on Thursday, hitting $32.44. 3,082,924 shares of the stock traded hands, compared to its average volume of 5,710,841. The stock has a market cap of $9.67 billion, a price-to-earnings ratio of 21.48, a P/E/G ratio of 10.28 and a beta of 0.08. Campbell's has a one year low of $29.39 and a one year high of $52.81. The company has a current ratio of 0.78, a quick ratio of 0.33 and a debt-to-equity ratio of 1.57. The company has a 50 day simple moving average of $32.15 and a 200 day simple moving average of $35.84.

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

Institutional Investors Weigh In On Campbell's

Several large investors have recently made changes to their positions in the stock. DoubleLine ETF Adviser LP grew its position 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 purchasing an additional 312 shares in the last quarter. New England Asset Management Inc. grew its position in shares of Campbell's by 0.6% in the first 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 last quarter. Farther Finance Advisors LLC grew its stake in shares of Campbell's by 22.4% in the second quarter. Farther Finance Advisors LLC now owns 2,102 shares of the company's stock valued at $64,000 after acquiring an additional 384 shares in the last quarter. SBI Securities Co. Ltd. increased its stake in Campbell's by 66.8% during the 2nd quarter. SBI Securities Co. Ltd. now owns 961 shares of the company's stock worth $29,000 after acquiring an additional 385 shares during the period. Finally, ORG Partners LLC increased its holdings 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 buying an additional 395 shares during the period. 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.