Campbell's (NASDAQ:CPB) Given New $35.00 Price Target at Piper Sandler

Campbell's (NASDAQ:CPB - Free Report) had its price target cut by Piper Sandler from $41.00 to $35.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts also recently weighed in on the company. Citigroup reduced their target price on Campbell's from $33.00 to $32.00 and set a "sell" rating on the stock in a report on Tuesday, June 3rd. Morgan Stanley reduced their target price on Campbell's from $40.00 to $35.00 and set an "equal weight" rating on the stock in a report on Tuesday, June 3rd. Wells Fargo & Company reduced their target price on Campbell's from $34.00 to $32.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 9th. Jefferies Financial Group reduced their target price on Campbell's from $40.00 to $37.00 and set a "buy" rating on the stock in a report on Wednesday, May 21st. Finally, DA Davidson cut 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. Five investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $39.33.

Campbell's Trading Down 1.0%

Shares of NASDAQ CPB traded down $0.32 during midday trading on Tuesday, reaching $30.98. The company had a trading volume of 3,352,378 shares, compared to its average volume of 3,271,098. Campbell's has a one year low of $29.39 and a one year high of $52.81. The company has a quick ratio of 0.33, a current ratio of 0.78 and a debt-to-equity ratio of 1.57. The firm's fifty day moving average price is $32.89 and its 200-day moving average price is $36.66. The stock has a market cap of $9.24 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 9.04 and a beta of 0.08.

Campbell's (NASDAQ:CPB - Get Free Report) last announced its quarterly 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. Campbell's had a return on equity of 23.22% and a net margin of 4.44%. The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the previous year, the business earned $0.75 EPS. Campbell's's revenue was up 4.5% compared to the same quarter last year. On average, equities research analysts anticipate that Campbell's will post 3.15 earnings per share for the current year.

Campbell's Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 4th. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.39 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.56 annualized dividend and a dividend yield of 5.04%. Campbell's's payout ratio is 103.31%.

Hedge Funds Weigh In On Campbell's

Several hedge funds and other institutional investors have recently modified their holdings of the company. Nuveen LLC bought a new stake in Campbell's during the first quarter valued at about $65,588,000. Two Sigma Advisers LP boosted its position in shares of Campbell's by 272.7% during the fourth quarter. Two Sigma Advisers LP now owns 2,243,300 shares of the company's stock valued at $93,949,000 after buying an additional 1,641,400 shares during the period. Man Group plc boosted its position in shares of Campbell's by 1,296.1% during the fourth quarter. Man Group plc now owns 1,407,161 shares of the company's stock valued at $58,932,000 after buying an additional 1,306,372 shares during the period. Invesco Ltd. boosted its position in shares of Campbell's by 38.2% during the fourth quarter. Invesco Ltd. now owns 4,645,548 shares of the company's stock valued at $194,556,000 after buying an additional 1,282,957 shares during the period. Finally, Norges Bank purchased a new position in shares of Campbell's during the fourth quarter valued at approximately $50,908,000. 52.35% of the stock is 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.