JPMorgan Chase & Co. Raises Campbell Soup (NASDAQ:CPB) Price Target to $57.00

Campbell Soup (NASDAQ:CPB - Get Free Report) had its price target boosted by equities research analysts at JPMorgan Chase & Co. from $55.00 to $57.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 16.00% from the company's previous close.

Several other analysts have also weighed in on CPB. Stifel Nicolaus reaffirmed a "hold" rating and set a $45.00 price objective on shares of Campbell Soup in a report on Tuesday, August 27th. Sanford C. Bernstein raised Campbell Soup from an "underperform" rating to a "market perform" rating and boosted their price objective for the stock from $42.00 to $46.00 in a research note on Wednesday, May 15th. DA Davidson raised their target price on Campbell Soup from $47.00 to $49.00 and gave the company a "buy" rating in a research note on Monday, June 10th. Citigroup lifted their price target on Campbell Soup from $41.00 to $42.00 and gave the company a "sell" rating in a report on Thursday, May 23rd. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $47.00 price objective on shares of Campbell Soup in a report on Tuesday, August 27th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $48.18.

Campbell Soup Stock Performance

CPB stock traded down $1.96 during midday trading on Wednesday, hitting $49.14. The stock had a trading volume of 4,040,348 shares, compared to its average volume of 2,651,246. Campbell Soup has a 52 week low of $37.94 and a 52 week high of $52.81. The company has a current ratio of 0.61, a quick ratio of 0.24 and a debt-to-equity ratio of 1.52. The stock has a 50-day simple moving average of $48.30 and a 200 day simple moving average of $45.64. The firm has a market capitalization of $14.67 billion, a price-to-earnings ratio of 19.82, a P/E/G ratio of 3.26 and a beta of 0.18.

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

Hedge Funds Weigh In On Campbell Soup

Institutional investors have recently modified their holdings of the stock. Norges Bank bought a new stake in shares of Campbell Soup in the 4th quarter valued at $125,689,000. LSV Asset Management increased its holdings in shares of Campbell Soup by 5,022.5% in the second quarter. LSV Asset Management now owns 2,438,300 shares of the company's stock worth $110,187,000 after acquiring an additional 2,390,700 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Campbell Soup by 16.6% during the first quarter. Van ECK Associates Corp now owns 8,548,557 shares of the company's stock worth $379,983,000 after purchasing an additional 1,219,301 shares during the period. Wulff Hansen & CO. lifted its holdings in shares of Campbell Soup by 4,419.0% during the 2nd quarter. Wulff Hansen & CO. now owns 732,530 shares of the company's stock valued at $33,103,000 after purchasing an additional 716,320 shares in the last quarter. Finally, AMF Tjanstepension AB acquired a new position in shares of Campbell Soup in the 1st quarter valued at approximately $30,128,000. 52.35% of the stock is currently owned by institutional investors and hedge funds.

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.