Campbell's (NASDAQ:CPB) Given New $33.00 Price Target at Bank of America

Campbell's (NASDAQ:CPB - Free Report) had its price objective reduced by Bank of America from $37.00 to $33.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an underperform rating on the stock.

CPB has been the topic of a number of other reports. UBS Group began coverage on Campbell's in a report on Wednesday, April 23rd. They issued a "sell" rating and a $36.00 price objective on the stock. JPMorgan Chase & Co. downgraded shares of Campbell's from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $48.00 to $37.00 in a research note on Thursday, March 6th. Piper Sandler dropped their price objective on shares of Campbell's from $45.00 to $42.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. Morgan Stanley initiated coverage on shares of Campbell's in a report on Monday, March 24th. They issued an "equal weight" rating and a $40.00 price objective for the company. Finally, Wells Fargo & Company decreased their target price on shares of Campbell's from $40.00 to $34.00 and set an "equal weight" rating on the stock in a research report on Friday, May 30th. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Campbell's currently has an average rating of "Hold" and a consensus target price of $40.39.

Campbell's Stock Performance

Campbell's stock traded up $0.02 during trading hours on Tuesday, hitting $34.28. The company had a trading volume of 4,324,900 shares, compared to its average volume of 2,912,637. The firm has a 50-day moving average of $36.31 and a 200 day moving average of $39.14. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.91 and a quick ratio of 0.50. The firm has a market cap of $10.22 billion, a PE ratio of 18.73, a PEG ratio of 2.71 and a beta of 0.14. Campbell's has a one year low of $32.95 and a one year high of $52.81.

Campbell's (NASDAQ:CPB - Get Free Report) last posted its earnings results on Monday, June 2nd. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.65 by $0.08. The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.44 billion. Campbell's had a return on equity of 23.79% and a net margin of 5.57%. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.75 earnings per share. On average, sell-side analysts expect that Campbell's will post 3.15 earnings per share for the current year.

Campbell's Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 4th. Investors of record on Thursday, July 3rd will be given 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 4.55%. Campbell's's dividend payout ratio is currently 90.17%.

Insider Activity at Campbell's

In other news, EVP Charles A. Brawley III sold 2,498 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $40.03, for a total value of $99,994.94. Following the completion of the transaction, the executive vice president now owns 37,590 shares of the company's stock, valued at approximately $1,504,727.70. This represents a 6.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 20.19% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Campbell's

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Handelsbanken Fonder AB boosted its position in Campbell's by 161.8% in the fourth quarter. Handelsbanken Fonder AB now owns 186,277 shares of the company's stock valued at $7,801,000 after buying an additional 115,122 shares in the last quarter. ING Groep NV bought a new position in shares of Campbell's in the 4th quarter valued at $1,062,000. Hussman Strategic Advisors Inc. lifted its stake in shares of Campbell's by 133.3% in the 4th quarter. Hussman Strategic Advisors Inc. now owns 147,000 shares of the company's stock valued at $6,156,000 after acquiring an additional 84,000 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Campbell's by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,787,481 shares of the company's stock valued at $74,860,000 after acquiring an additional 21,849 shares in the last quarter. Finally, Deutsche Bank AG grew its position in Campbell's by 56.9% during the 4th quarter. Deutsche Bank AG now owns 2,662,547 shares of the company's stock worth $111,507,000 after acquiring an additional 966,044 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.