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

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

Several other research firms also recently commented on CPB. Piper Sandler lowered 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. Consumer Edge reiterated an "equal weight" rating on shares of Campbell's in a research report on Monday, March 17th. Argus cut shares of Campbell's from a "buy" rating to a "hold" rating in a research report on Friday, June 20th. Citigroup decreased their target price on shares of Campbell's from $33.00 to $32.00 and set a "sell" rating on the stock in a report on Tuesday, June 3rd. Finally, Stifel Nicolaus decreased their target price on shares of Campbell's from $40.00 to $38.00 and set a "hold" rating on the stock in a report on Tuesday, June 3rd. Five 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. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $40.00.

Campbell's Stock Down 1.0%

CPB traded down $0.30 during trading on Wednesday, hitting $30.74. The stock had a trading volume of 4,848,515 shares, compared to its average volume of 3,123,963. The stock has a 50 day simple moving average of $33.58 and a two-hundred day simple moving average of $37.15. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.33 and a current ratio of 0.78. Campbell's has a twelve month low of $30.22 and a twelve month high of $52.81. The company has a market capitalization of $9.16 billion, a PE ratio of 20.36, a PEG ratio of 8.99 and a beta of 0.08.

Campbell's (NASDAQ:CPB - Get Free Report) last announced its earnings results on Monday, June 2nd. The company reported $0.73 earnings per share (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 analyst estimates of $2.44 billion. Campbell's had a return on equity of 23.22% and a net margin of 4.44%. The firm's quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.75 EPS. On average, research analysts predict that Campbell's will post 3.15 earnings per share for the current year.

Campbell's Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 4th. Investors of record on Thursday, July 3rd will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 5.07%. The ex-dividend date is Thursday, July 3rd. Campbell's's dividend payout ratio is currently 103.31%.

Institutional Trading of Campbell's

Several hedge funds have recently made changes to their positions in CPB. DoubleLine ETF Adviser LP raised its position in shares of Campbell's by 2.8% in the fourth quarter. DoubleLine ETF Adviser LP now owns 11,640 shares of the company's stock valued at $487,000 after purchasing an additional 312 shares during the period. New England Asset Management Inc. boosted its position in shares of Campbell's by 0.6% during the 1st quarter. New England Asset Management Inc. now owns 64,690 shares of the company's stock valued at $2,582,000 after acquiring an additional 370 shares in the last quarter. Koss Olinger Consulting LLC raised its stake in Campbell's by 0.7% during the fourth quarter. Koss Olinger Consulting LLC now owns 52,411 shares of the company's stock worth $2,195,000 after acquiring an additional 380 shares in the last quarter. Howe & Rusling Inc. raised its holdings in shares of Campbell's by 3.5% in the first quarter. Howe & Rusling Inc. now owns 11,786 shares of the company's stock valued at $470,000 after buying an additional 400 shares during the last quarter. Finally, Personal CFO Solutions LLC increased its position in Campbell's by 5.5% in the 1st quarter. Personal CFO Solutions LLC now owns 8,077 shares of the company's stock valued at $322,000 after acquiring an additional 421 shares in the last quarter. Institutional investors and hedge funds own 52.35% of the company's stock.

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.