Campbell Soup (NASDAQ:CPB) Given New $37.00 Price Target at Citigroup

Campbell Soup (NASDAQ:CPB - Get Free Report) had its target price dropped by research analysts at Citigroup from $39.00 to $37.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a "sell" rating on the stock. Citigroup's price target would indicate a potential downside of 11.50% from the stock's previous close.

Several other analysts have also recently commented on the stock. Stifel Nicolaus dropped their target price on shares of Campbell Soup from $47.00 to $40.00 and set a "hold" rating for the company in a research report on Friday, January 24th. Piper Sandler upgraded shares of Campbell Soup from a "neutral" rating to an "overweight" rating and upped their target price for the company from $47.00 to $56.00 in a research report on Thursday, November 14th. Barclays dropped their target price on shares of Campbell Soup from $49.00 to $46.00 and set an "underweight" rating for the company in a research report on Friday, December 6th. Bank of America dropped their target price on shares of Campbell Soup from $45.00 to $41.00 and set an "underperform" rating for the company in a research report on Thursday. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $51.00 target price on shares of Campbell Soup in a research report on Monday, December 2nd. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $46.36.

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Campbell Soup Trading Up 5.1 %

CPB stock traded up $2.02 during trading on Thursday, hitting $41.81. The company had a trading volume of 6,629,049 shares, compared to its average volume of 2,566,800. The company has a quick ratio of 0.50, a current ratio of 0.91 and a debt-to-equity ratio of 1.74. The firm has a 50-day moving average price of $39.39 and a 200-day moving average price of $44.31. Campbell Soup has a 12 month low of $36.92 and a 12 month high of $52.81. The stock has a market cap of $12.47 billion, a price-to-earnings ratio of 22.85, a PEG ratio of 2.71 and a beta of 0.15.

Campbell Soup (NASDAQ:CPB - Get Free Report) last posted its quarterly earnings data 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 Soup had a net margin of 5.57% and a return on equity of 23.79%. The firm had revenue of $2.69 billion during the quarter, compared to analysts' expectations of $2.74 billion. The company's revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, analysts predict that Campbell Soup will post 3.15 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Anthony Sanzio sold 2,000 shares of the company's stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $41.90, for a total value of $83,800.00. Following the completion of the transaction, the executive vice president now directly owns 16,551 shares of the company's stock, valued at approximately $693,486.90. This represents a 10.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 20.19% of the company's stock.

Hedge Funds Weigh In On Campbell Soup

A number of large investors have recently modified their holdings of CPB. Sherman Asset Management Inc. acquired a new position in shares of Campbell Soup during the 4th quarter worth about $36,000. Ashton Thomas Securities LLC acquired a new position in shares of Campbell Soup during the 3rd quarter worth about $39,000. Principal Securities Inc. boosted its stake in shares of Campbell Soup by 45.5% during the 4th quarter. Principal Securities Inc. now owns 927 shares of the company's stock worth $39,000 after buying an additional 290 shares during the last quarter. Kentucky Trust Co acquired a new position in shares of Campbell Soup during the 4th quarter worth about $42,000. Finally, Quent Capital LLC boosted its stake in shares of Campbell Soup by 77.7% during the 4th quarter. Quent Capital LLC now owns 1,100 shares of the company's stock worth $46,000 after buying an additional 481 shares during the last quarter. 52.35% of the stock is currently owned by institutional investors and hedge funds.

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.