Campbell Soup (NASDAQ:CPB) PT Raised to $51.00 at Wells Fargo & Company

Campbell Soup (NASDAQ:CPB) had its target price increased by Wells Fargo & Company from $49.00 to $51.00 in a research note released on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Several other analysts have also issued reports on CPB. JPMorgan Chase & Co. upgraded shares of Campbell Soup from a neutral rating to an overweight rating and boosted their target price for the company from $45.00 to $52.00 in a research report on Wednesday, June 26th. StockNews.com lowered shares of Campbell Soup from a hold rating to a sell rating in a research report on Wednesday. Sanford C. Bernstein raised shares of Campbell Soup from an underperform rating to a market perform rating and lifted their price target for the company from $42.00 to $46.00 in a report on Wednesday, May 15th. TD Cowen lifted their price target on shares of Campbell Soup from $46.00 to $47.00 and gave the company a hold rating in a report on Wednesday, August 21st. Finally, Royal Bank of Canada reaffirmed a sector perform rating and set a $47.00 price target on shares of Campbell Soup in a report on Tuesday, August 27th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $48.92.

Campbell Soup Stock Performance

Shares of CPB stock opened at $51.09 on Wednesday. The company has a 50 day moving average price of $48.48 and a 200-day moving average price of $45.69. Campbell Soup has a 52 week low of $37.94 and a 52 week high of $52.81. The firm has a market capitalization of $15.25 billion, a PE ratio of 20.68, a P/E/G ratio of 3.09 and a beta of 0.18. The company has a quick ratio of 0.24, a current ratio of 0.61 and a debt-to-equity ratio of 1.52.

Campbell Soup (NASDAQ:CPB) last announced its earnings results on Thursday, August 29th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.01. The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. Campbell Soup had a net margin of 5.88% and a return on equity of 24.08%. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.50 earnings per share. As a group, equities research analysts expect that Campbell Soup will post 3.18 earnings per share for the current year.

Hedge Funds Weigh In On Campbell Soup

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mather Group LLC. bought a new position in shares of Campbell Soup during the first quarter worth $28,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Campbell Soup during the second quarter worth $32,000. Jones Financial Companies Lllp bought a new position in shares of Campbell Soup during the fourth quarter worth $31,000. Larson Financial Group LLC boosted its position in shares of Campbell Soup by 3,760.9% during the first quarter. Larson Financial Group LLC now owns 888 shares of the company’s stock worth $39,000 after acquiring an additional 865 shares during the last quarter. Finally, TruNorth Capital Management LLC bought a new position in shares of Campbell Soup during the second quarter worth $44,000. Institutional investors own 52.35% of the company’s stock.

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.