Bank of America Has Lowered Expectations for Campbell Soup (NASDAQ:CPB) Stock Price

Campbell Soup (NASDAQ:CPB) had its price objective dropped by analysts at Bank of America from $45.00 to $41.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “underperform” rating on the stock. Bank of America‘s price objective would indicate a potential upside of 4.65% from the company’s previous close.

CPB has been the subject of a number of other research reports. DA Davidson reaffirmed a “neutral” rating and issued a $51.00 target price on shares of Campbell Soup in a research report on Wednesday, December 4th. Piper Sandler upgraded Campbell Soup from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $47.00 to $56.00 in a research note on Thursday, November 14th. Wells Fargo & Company reduced their price objective on Campbell Soup from $45.00 to $43.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. JPMorgan Chase & Co. downgraded Campbell Soup from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $48.00 to $37.00 in a report on Thursday. Finally, BNP Paribas upgraded Campbell Soup to a “strong sell” rating in a research note on Wednesday, February 26th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Campbell Soup has an average rating of “Hold” and an average target price of $47.36.

Campbell Soup Stock Performance

CPB stock opened at $39.18 on Thursday. 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 Soup has a 12-month low of $36.92 and a 12-month high of $52.81. The stock has a market capitalization of $11.68 billion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 2.71 and a beta of 0.19. The stock’s 50 day simple moving average is $39.43 and its 200 day simple moving average is $44.39.

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

Insider Buying and Selling at Campbell Soup

In related news, EVP Anthony Sanzio sold 2,000 shares of Campbell Soup 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 sale, the executive vice president now owns 16,551 shares of the company’s stock, valued at approximately $693,486.90. This trade represents a 10.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 20.19% of the company’s stock.

Institutional Investors Weigh In On Campbell Soup

A number of institutional investors have recently added to or reduced their stakes in CPB. Siemens Fonds Invest GmbH purchased a new position in shares of Campbell Soup in the fourth quarter worth $135,000. QSM Asset Management Ltd bought a new stake in Campbell Soup in the 4th quarter valued at $6,556,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Campbell Soup during the 4th quarter valued at about $10,462,000. Forum Financial Management LP purchased a new position in shares of Campbell Soup during the fourth quarter valued at about $264,000. Finally, Voloridge Investment Management LLC bought a new stake in shares of Campbell Soup in the fourth quarter worth about $18,172,000. 52.35% of the stock is owned by hedge funds and other institutional investors.

Campbell Soup Company Profile

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.