Campbell's (NASDAQ:CPB) Given New $34.00 Price Target at Wells Fargo & Company

Campbell's (NASDAQ:CPB - Free Report) had its price target cut by Wells Fargo & Company from $40.00 to $34.00 in a research report report published on Friday,Benzinga reports. They currently have an equal weight rating on the stock.

Other research analysts also recently issued research reports about the company. Jefferies Financial Group lowered their target price on Campbell's from $42.00 to $40.00 and set a "hold" rating on the stock in a report on Wednesday, March 5th. UBS Group began coverage on Campbell's in a report on Wednesday, April 23rd. They set a "sell" rating and a $36.00 price target for the company. Bank of America decreased their price target on Campbell's from $41.00 to $37.00 and set an "underperform" rating for the company in a research note on Wednesday, May 21st. JPMorgan Chase & Co. downgraded Campbell's from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $48.00 to $37.00 in a report on Thursday, March 6th. Finally, Citigroup dropped their target price on Campbell's from $37.00 to $33.00 and set a "sell" rating on the stock in a research note on Monday, May 19th. Five analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $42.40.

Campbell's Stock Performance

CPB stock remained flat at $34.17 during midday trading on Friday. The company's stock had a trading volume of 6,525,579 shares, compared to its average volume of 2,868,550. 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 $10.19 billion, a PE ratio of 18.67, a price-to-earnings-growth ratio of 2.71 and a beta of 0.14. The firm has a 50 day moving average price of $36.62 and a 200 day moving average price of $39.30.

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

Campbell's Dividend Announcement

The business 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 $0.39 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.57%. Campbell's's dividend payout ratio (DPR) is presently 90.17%.

Insider Activity

In other Campbell's news, EVP Charles A. Brawley III sold 2,498 shares of the company's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $40.03, for a total transaction of $99,994.94. Following the transaction, the executive vice president now directly owns 37,590 shares in the company, valued at $1,504,727.70. This represents a 6.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 20.19% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CPB. Vanguard Group Inc. raised its stake in Campbell's by 2.1% in the first quarter. Vanguard Group Inc. now owns 24,120,172 shares of the company's stock valued at $962,877,000 after buying an additional 494,567 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Campbell's by 6.1% in the 4th quarter. Van ECK Associates Corp now owns 9,247,213 shares of the company's stock valued at $387,273,000 after purchasing an additional 531,281 shares in the last quarter. Beutel Goodman & Co Ltd. boosted its stake in shares of Campbell's by 0.5% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 6,925,365 shares of the company's stock worth $290,034,000 after acquiring an additional 35,160 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Campbell's by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 5,323,332 shares of the company's stock worth $222,420,000 after acquiring an additional 57,717 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Campbell's by 6.9% in the 1st quarter. Invesco Ltd. now owns 4,965,668 shares of the company's stock valued at $198,229,000 after buying an additional 320,120 shares in the last quarter. 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.