Wells Fargo & Company Lowers Campbell's (NASDAQ:CPB) Price Target to $32.00

Campbell's (NASDAQ:CPB - Free Report) had its price objective decreased by Wells Fargo & Company from $34.00 to $32.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other equities research analysts also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Campbell's from $43.00 to $39.00 and set a "hold" rating on the stock in a research note on Wednesday, May 21st. Bank of America dropped their target price on shares of Campbell's from $37.00 to $33.00 and set an "underperform" rating for the company in a research report on Tuesday, June 3rd. UBS Group began coverage on shares of Campbell's in a research report on Wednesday, April 23rd. They issued a "sell" rating and a $36.00 target price for the company. Consumer Edge reissued an "equal weight" rating on shares of Campbell's in a research report on Monday, March 17th. Finally, Argus downgraded shares of Campbell's from a "buy" rating to a "hold" rating in a research report on Friday, June 20th. 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. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $40.00.

Campbell's Trading Up 2.5%

Shares of CPB stock traded up $0.75 during mid-day trading on Wednesday, reaching $31.24. The company's stock had a trading volume of 11,178,625 shares, compared to its average volume of 3,218,280. The company's 50 day simple moving average is $33.26 and its 200-day simple moving average is $36.92. Campbell's has a 12-month low of $29.39 and a 12-month 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 has a market capitalization of $9.31 billion, a PE ratio of 20.69, a price-to-earnings-growth ratio of 9.12 and a beta of 0.08.

Campbell's (NASDAQ:CPB - Get Free Report) last released its quarterly earnings results on Monday, June 2nd. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.08. Campbell's had a net margin of 4.44% and a return on equity of 23.22%. The firm 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 firm posted $0.75 EPS. The firm's quarterly revenue was up 4.5% on a year-over-year basis. On average, research analysts predict that Campbell's will post 3.15 EPS for the current fiscal year.

Campbell's Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 4th. Investors of record on Thursday, July 3rd will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 4.99%. The ex-dividend date is Thursday, July 3rd. Campbell's's dividend payout ratio is currently 103.31%.

Hedge Funds Weigh In On Campbell's

Several large investors have recently bought and sold shares of CPB. Assetmark Inc. raised its stake in shares of Campbell's by 111.7% in the 4th quarter. Assetmark Inc. now owns 3,851 shares of the company's stock valued at $161,000 after buying an additional 2,032 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Campbell's in the 4th quarter worth about $1,664,000. Raymond James Financial Inc. bought a new stake in shares of Campbell's in the 4th quarter worth about $21,312,000. Amundi grew its holdings in shares of Campbell's by 23.9% in the 4th quarter. Amundi now owns 1,958,238 shares of the company's stock worth $76,823,000 after purchasing an additional 377,307 shares during the last quarter. Finally, AlphaQuest LLC bought a new stake in shares of Campbell's in the 4th quarter worth about $207,000. 52.35% of the stock is currently owned by institutional investors and hedge funds.

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.