Citigroup Cuts Campbell's (NASDAQ:CPB) Price Target to $32.00

Campbell's (NASDAQ:CPB - Free Report) had its target price decreased by Citigroup from $33.00 to $32.00 in a research note released on Tuesday morning,Benzinga reports. Citigroup currently has a sell rating on the stock.

A number of other research firms have also recently commented on CPB. Deutsche Bank Aktiengesellschaft cut their target price on Campbell's from $43.00 to $39.00 and set a "hold" rating on the stock in a research note on Wednesday, May 21st. Stephens decreased their target price on Campbell's from $48.00 to $43.00 in a report on Wednesday, May 28th. JPMorgan Chase & Co. downgraded shares of Campbell's from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $48.00 to $37.00 in a report on Thursday, March 6th. Consumer Edge reiterated an "equal weight" rating on shares of Campbell's in a report on Monday, March 17th. Finally, 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 price target on the stock. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $40.39.

Campbell's Price Performance

Shares of CPB traded up $0.02 during midday trading on Tuesday, reaching $34.28. The stock had a trading volume of 4,324,900 shares, compared to its average volume of 2,912,637. The company's 50-day moving average is $36.31 and its 200 day moving average is $39.14. 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 has a 12-month low of $32.95 and a 12-month high of $52.81. The company has a market capitalization of $10.22 billion, a price-to-earnings ratio of 18.73, a price-to-earnings-growth ratio of 2.71 and a beta of 0.14.

Campbell's (NASDAQ:CPB - Get Free Report) last posted its 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. The company had revenue of $2.48 billion for the quarter, compared to analysts' expectations of $2.44 billion. Campbell's had a return on equity of 23.79% and a net margin of 5.57%. Campbell's's quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the firm earned $0.75 earnings per share. On average, equities analysts predict that Campbell's will post 3.15 EPS for the current fiscal year.

Campbell's Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 4th. Shareholders 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 4.55%. The ex-dividend date is Thursday, July 3rd. Campbell's's payout ratio is currently 90.17%.

Insider Transactions at Campbell's

In related news, EVP Charles A. Brawley III sold 2,498 shares of the firm's stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 37,590 shares of the company's stock, valued at $1,504,727.70. This trade represents a 6.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 20.19% of the stock is owned by insiders.

Institutional Trading of Campbell's

Hedge funds and other institutional investors have recently modified their holdings of the stock. Inspire Investing LLC increased its holdings in shares of Campbell's by 27.1% in the first quarter. Inspire Investing LLC now owns 7,835 shares of the company's stock worth $313,000 after acquiring an additional 1,669 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in Campbell's by 333.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 975 shares of the company's stock valued at $39,000 after acquiring an additional 750 shares during the period. SageView Advisory Group LLC bought a new stake in shares of Campbell's in the first quarter valued at about $205,000. Bayforest Capital Ltd acquired a new position in Campbell's in the 1st quarter valued at $354,000. Finally, Woodline Partners LP boosted its position in shares of Campbell's by 40.9% during the 1st quarter. Woodline Partners LP now owns 16,623 shares of the company's stock worth $664,000 after acquiring an additional 4,827 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.