Campbell's (NASDAQ:CPB) Price Target Lowered to $37.00 at Bank of America

Campbell's (NASDAQ:CPB - Get Free Report) had its target price dropped by research analysts at Bank of America from $41.00 to $37.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an "underperform" rating on the stock. Bank of America's target price points to a potential upside of 10.45% from the stock's current price.

Several other research analysts have also recently weighed in on CPB. Consumer Edge reissued an "equal weight" rating on shares of Campbell's in a report on Monday, March 17th. Jefferies Financial Group reduced their price objective on Campbell's from $42.00 to $40.00 and set a "hold" rating for the company in a research report on Wednesday, March 5th. Citigroup dropped their target price on shares of Campbell's from $37.00 to $33.00 and set a "sell" rating for the company in a research report on Monday, May 19th. Stifel Nicolaus decreased their target price on Campbell's from $47.00 to $40.00 and set a "hold" rating on the stock in a research report on Friday, January 24th. Finally, DA Davidson lowered their price objective on shares of Campbell's from $46.00 to $39.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $42.80.

Campbell's Stock Down 1.8%

Campbell's stock traded down $0.61 during mid-day trading on Wednesday, hitting $33.50. The company had a trading volume of 5,980,389 shares, compared to its average volume of 2,844,938. Campbell's has a 12 month low of $32.95 and a 12 month high of $52.81. The company has a market capitalization of $9.99 billion, a PE ratio of 18.31, a price-to-earnings-growth ratio of 2.71 and a beta of 0.14. The stock's 50 day moving average price is $37.04 and its two-hundred day moving average price is $39.64. The company has a current ratio of 0.91, a quick ratio of 0.50 and a debt-to-equity ratio of 1.74.

Campbell's (NASDAQ:CPB - Get Free Report) last issued its earnings results on Wednesday, March 5th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.01. Campbell's had a net margin of 5.57% and a return on equity of 23.79%. The firm had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.74 billion. The business's quarterly revenue was up 9.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Campbell's will post 3.15 earnings per share 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 the company's stock in a transaction on Monday, March 31st. The shares were 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 represents a 6.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 20.19% of the stock is owned by company insiders.

Hedge Funds Weigh In On Campbell's

Several hedge funds have recently added to or reduced their stakes in the business. Ballentine Partners LLC boosted its stake in shares of Campbell's by 2.8% during the 4th quarter. Ballentine Partners LLC now owns 9,646 shares of the company's stock worth $404,000 after purchasing an additional 262 shares during the last quarter. Principal Securities Inc. lifted its stake in shares of Campbell's by 45.5% during the fourth quarter. Principal Securities Inc. now owns 927 shares of the company's stock valued at $39,000 after buying an additional 290 shares during the period. SPC Financial Inc. lifted its stake in shares of Campbell's by 2.3% during the fourth quarter. SPC Financial Inc. now owns 13,575 shares of the company's stock valued at $569,000 after buying an additional 300 shares during the period. Ascent Wealth Partners LLC boosted its position in Campbell's by 1.5% during the fourth quarter. Ascent Wealth Partners LLC now owns 20,176 shares of the company's stock worth $845,000 after acquiring an additional 306 shares during the last quarter. Finally, DoubleLine ETF Adviser LP grew its stake in Campbell's by 2.8% in the 4th quarter. DoubleLine ETF Adviser LP now owns 11,640 shares of the company's stock worth $487,000 after acquiring an additional 312 shares during the period. 52.35% of the stock is currently owned by hedge funds and other 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.