Wells Fargo & Company Cuts Campbell Soup (NASDAQ:CPB) Price Target to $40.00

Campbell Soup (NASDAQ:CPB) had its price target dropped by Wells Fargo & Company from $43.00 to $40.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 2.09% from the company’s previous close.

CPB has been the topic of several other reports. Piper Sandler upgraded Campbell Soup from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $47.00 to $56.00 in a report on Thursday, November 14th. Citigroup cut their price target on Campbell Soup from $44.00 to $41.00 and set a “sell” rating on the stock in a report on Thursday, December 5th. Bank of America cut their price target on Campbell Soup from $45.00 to $41.00 and set an “underperform” rating on the stock in a report on Thursday. Stifel Nicolaus cut their price target on Campbell Soup from $47.00 to $40.00 and set a “hold” rating on the stock in a report on Friday, January 24th. Finally, DA Davidson reiterated a “neutral” rating and issued a $51.00 price target on shares of Campbell Soup in a report on Wednesday, December 4th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Campbell Soup has an average rating of “Hold” and an average price target of $47.14.

Campbell Soup Price Performance

Shares of CPB stock opened at $39.18 on Thursday. The stock has a 50 day moving average price of $39.43 and a 200 day moving average price of $44.39. The firm has a market capitalization of $11.68 billion, a P/E ratio of 21.41, a P/E/G ratio of 2.71 and a beta of 0.19. Campbell Soup has a 52-week low of $36.92 and a 52-week high of $52.81. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.50 and a current ratio of 0.91.

Campbell Soup (NASDAQ:CPB) last released its quarterly earnings data on Wednesday, March 5th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.73 by $0.01. The company had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.74 billion. Campbell Soup had a return on equity of 23.79% and a net margin of 5.57%. The firm’s revenue was up 9.3% compared to the same quarter last year. As a group, sell-side analysts predict that Campbell Soup will post 3.15 earnings per share for the current year.

Insiders Place Their Bets

In other Campbell Soup news, EVP Anthony Sanzio sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $41.90, for a total transaction of $83,800.00. Following the completion of the sale, the executive vice president now directly owns 16,551 shares in the company, valued at approximately $693,486.90. The trade was a 10.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 20.19% of the stock is owned by company insiders.

Institutional Investors Weigh In On Campbell Soup

A number of large investors have recently made changes to their positions in the stock. Ballentine Partners LLC grew its position in shares of Campbell Soup by 2.8% in the fourth quarter. Ballentine Partners LLC now owns 9,646 shares of the company’s stock valued at $404,000 after purchasing an additional 262 shares in the last quarter. Principal Securities Inc. grew its position in shares of Campbell Soup by 45.5% in the fourth quarter. Principal Securities Inc. now owns 927 shares of the company’s stock valued at $39,000 after purchasing an additional 290 shares in the last quarter. SPC Financial Inc. grew its position in shares of Campbell Soup by 2.3% in the fourth quarter. SPC Financial Inc. now owns 13,575 shares of the company’s stock valued at $569,000 after purchasing an additional 300 shares in the last quarter. Ascent Wealth Partners LLC grew its position in shares of Campbell Soup by 1.5% in the fourth quarter. Ascent Wealth Partners LLC now owns 20,176 shares of the company’s stock valued at $845,000 after purchasing an additional 306 shares in the last quarter. Finally, DoubleLine ETF Adviser LP grew its position in shares of Campbell Soup 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 in the last quarter. 52.35% of the stock is currently owned by hedge funds and other institutional investors.

About Campbell Soup

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.