Campbell's (NASDAQ:CPB) Price Target Lowered to $35.00 at Morgan Stanley

Campbell's (NASDAQ:CPB - Free Report) had its price target cut by Morgan Stanley from $40.00 to $35.00 in a research note released on Tuesday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities research analysts have also recently commented on CPB. Consumer Edge reissued an "equal weight" rating on shares of Campbell's in a research report on Monday, March 17th. DA Davidson dropped their target price on Campbell's from $46.00 to $39.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. Piper Sandler decreased their price target on Campbell's from $45.00 to $42.00 and set an "overweight" rating on the stock in a research note on Friday, May 23rd. Wells Fargo & Company lowered their target price on Campbell's from $40.00 to $34.00 and set an "equal weight" rating for the company in a research note on Friday, May 30th. Finally, Barclays lowered their target price on shares of Campbell's from $40.00 to $35.00 and set an "underweight" rating for the company in a report on Tuesday. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Campbell's has a consensus rating of "Hold" and a consensus target price of $40.39.

Campbell's Stock Up 0.1%

CPB traded up $0.02 during midday trading on Tuesday, reaching $34.28. The company's stock had a trading volume of 4,324,900 shares, compared to its average volume of 2,912,637. The stock's 50-day moving average is $36.31 and its 200-day moving average is $39.14. The firm has a market capitalization of $10.22 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 2.71 and a beta of 0.14. Campbell's has a 1 year low of $32.95 and a 1 year high of $52.81. 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 quarterly earnings results on Monday, June 2nd. The company reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.08. The business had revenue of $2.48 billion during 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%. The business's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.75 earnings per share. As a group, research analysts expect that Campbell's will post 3.15 EPS for the current year.

Campbell's Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 4th. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date is Thursday, July 3rd. Campbell's's dividend payout ratio is currently 90.17%.

Insider Transactions at Campbell's

In other Campbell's news, EVP Charles A. Brawley III sold 2,498 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 37,590 shares in the company, valued at $1,504,727.70. This represents a 6.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 20.19% of the company's stock.

Hedge Funds Weigh In On Campbell's

A number of hedge funds have recently made changes to their positions in CPB. Janney Montgomery Scott LLC raised its holdings in shares of Campbell's by 3.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 15,315 shares of the company's stock valued at $641,000 after purchasing an additional 486 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in Campbell's by 8.2% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 10,202 shares of the company's stock worth $427,000 after purchasing an additional 773 shares in the last quarter. DAVENPORT & Co LLC grew its holdings in shares of Campbell's by 49.8% during the fourth quarter. DAVENPORT & Co LLC now owns 9,749 shares of the company's stock valued at $408,000 after buying an additional 3,243 shares during the last quarter. Spire Wealth Management lifted its position in Campbell's by 29.6% during the fourth quarter. Spire Wealth Management now owns 1,406 shares of the company's stock valued at $59,000 after purchasing an additional 321 shares during the period. Finally, Brown Lisle Cummings Inc. grew its holdings in Campbell's by 13.3% during the fourth quarter. Brown Lisle Cummings Inc. now owns 22,817 shares of the company's stock valued at $956,000 after purchasing an additional 2,670 shares during the period. 52.35% of the stock is currently 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.