Campbell's (NASDAQ:CPB) Given New $42.00 Price Target at Piper Sandler

Campbell's (NASDAQ:CPB - Get Free Report) had its price target lowered by equities researchers at Piper Sandler from $45.00 to $42.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Piper Sandler's target price indicates a potential upside of 27.08% from the stock's current price.

CPB has been the topic of a number of other research reports. Bank of America dropped their price objective on shares of Campbell's from $41.00 to $37.00 and set an "underperform" rating on the stock in a report on Wednesday. JPMorgan Chase & Co. downgraded Campbell's from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $48.00 to $37.00 in a research note on Thursday, March 6th. Consumer Edge reaffirmed an "equal weight" rating on shares of Campbell's in a research note on Monday, March 17th. Citigroup decreased their target price on Campbell's from $37.00 to $33.00 and set a "sell" rating for the company in a research report on Monday. Finally, Wells Fargo & Company dropped their price objective on Campbell's from $43.00 to $40.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 6th. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Campbell's has an average rating of "Hold" and an average price target of $42.80.

Campbell's Stock Down 3.1%

Shares of CPB traded down $1.06 during trading hours on Friday, hitting $33.05. The company had a trading volume of 1,354,481 shares, compared to its average volume of 2,819,015. The firm has a fifty day moving average price of $37.15 and a 200-day moving average price of $39.82. Campbell's has a 52-week low of $33.02 and a 52-week high of $52.81. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.50 and a current ratio of 0.91. The stock has a market capitalization of $9.86 billion, a price-to-earnings ratio of 18.08, a P/E/G ratio of 2.71 and a beta of 0.14.

Campbell's (NASDAQ:CPB - Get Free Report) last released its quarterly earnings data on Wednesday, March 5th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.73 by $0.01. Campbell's had a return on equity of 23.79% and a net margin of 5.57%. The company had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.74 billion. The firm's revenue was up 9.3% compared to the same quarter last year. On average, equities research analysts forecast that Campbell's will post 3.15 EPS for the current fiscal year.

Insider Buying and Selling at Campbell's

In other Campbell's news, EVP Charles A. Brawley III sold 2,498 shares of Campbell's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $40.03, for a total transaction of $99,994.94. Following the completion of the transaction, the executive vice president now owns 37,590 shares in the company, valued at approximately $1,504,727.70. This trade represents a 6.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 20.19% of the company's stock.

Institutional Investors Weigh In On Campbell's

A number of hedge funds and other institutional investors have recently made changes to their positions in CPB. Manchester Capital Management LLC grew its stake 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 acquiring an additional 637 shares during the period. NBC Securities Inc. acquired a new position in shares of Campbell's during the 1st quarter valued at about $31,000. Sherman Asset Management Inc. purchased a new stake in shares of Campbell's in the 4th quarter valued at approximately $36,000. Principal Securities Inc. grew its position in Campbell's by 45.5% in the fourth quarter. Principal Securities Inc. now owns 927 shares of the company's stock worth $39,000 after acquiring an additional 290 shares during the period. Finally, Geneos Wealth Management Inc. increased its position in shares of Campbell's by 333.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 975 shares of the company's stock worth $39,000 after purchasing an additional 750 shares during the last quarter. Institutional investors and hedge funds own 52.35% of the company's stock.

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.

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