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

Campbell's (NASDAQ:CPB - Get Free Report) had its price target reduced by Bank of America from $41.00 to $37.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "underperform" rating on the stock. Bank of America's price objective points to a potential upside of 5.72% from the stock's current price.

Several other equities analysts have also recently weighed in on the stock. Consumer Edge reiterated an "equal weight" rating on shares of Campbell's in a research report on Monday, March 17th. Morgan Stanley started coverage on Campbell's in a report on Monday, March 24th. They issued an "equal weight" rating and a $40.00 target price on the stock. JPMorgan Chase & Co. cut shares of Campbell's from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $48.00 to $37.00 in a report on Thursday, March 6th. Jefferies Financial Group lowered their price objective on shares of Campbell's from $42.00 to $40.00 and set a "hold" rating on the stock in a research report on Wednesday, March 5th. Finally, BNP Paribas upgraded shares of Campbell's to a "strong sell" rating in a research note on Wednesday, February 26th. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $43.73.

Campbell's Price Performance

Shares of CPB traded down $0.69 during midday trading on Wednesday, reaching $35.00. The stock had a trading volume of 835,588 shares, compared to its average volume of 2,804,996. The firm's 50 day moving average price is $37.33 and its 200-day moving average price is $39.94. Campbell's has a 52 week low of $34.27 and a 52 week high of $52.81. The company has a market capitalization of $10.44 billion, a P/E ratio of 19.13, a P/E/G ratio of 2.71 and a beta of 0.14. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.91 and a quick ratio of 0.50.

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

Insider Buying and Selling

In other Campbell's news, EVP Charles A. Brawley III sold 2,498 shares of Campbell's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $40.03, for a total value of $99,994.94. Following the transaction, the executive vice president now directly owns 37,590 shares of the company's stock, valued at $1,504,727.70. The trade was a 6.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 20.19% of the company's stock.

Institutional Trading of Campbell's

A number of hedge funds have recently bought and sold shares of CPB. Assenagon Asset Management S.A. lifted its position in Campbell's by 5.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 13,331 shares of the company's stock worth $558,000 after purchasing an additional 703 shares during the period. HB Wealth Management LLC raised its holdings in shares of Campbell's by 4.3% in the 4th quarter. HB Wealth Management LLC now owns 7,718 shares of the company's stock worth $323,000 after buying an additional 319 shares in the last quarter. Ameritas Advisory Services LLC lifted its position in shares of Campbell's by 14.9% during the 4th quarter. Ameritas Advisory Services LLC now owns 5,285 shares of the company's stock worth $221,000 after buying an additional 686 shares during the period. Ballentine Partners LLC boosted its stake in Campbell's by 2.8% in the 4th quarter. Ballentine Partners LLC now owns 9,646 shares of the company's stock valued at $404,000 after buying an additional 262 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in Campbell's by 17.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 34,247 shares of the company's stock valued at $1,434,000 after buying an additional 5,123 shares in the last quarter. 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.

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