Campbell Soup (NASDAQ:CPB) Raised to Overweight at Piper Sandler

Campbell Soup (NASDAQ:CPB) was upgraded by stock analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a report issued on Thursday, Marketbeat reports. The brokerage currently has a $56.00 price objective on the stock, up from their previous price objective of $47.00. Piper Sandler’s price objective would suggest a potential upside of 29.78% from the company’s current price.

A number of other research firms have also recently issued reports on CPB. Argus raised shares of Campbell Soup from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Friday, September 20th. StockNews.com raised shares of Campbell Soup from a “sell” rating to a “hold” rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. raised their price target on shares of Campbell Soup from $55.00 to $57.00 and gave the company an “overweight” rating in a research note on Wednesday, September 11th. Barclays boosted their price objective on Campbell Soup from $45.00 to $49.00 and gave the stock an “underweight” rating in a research note on Thursday, September 12th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $45.00 price target on shares of Campbell Soup in a research note on Tuesday, August 27th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Campbell Soup has a consensus rating of “Hold” and a consensus price target of $51.58.

Campbell Soup Stock Down 2.9 %

CPB opened at $43.15 on Thursday. The company has a fifty day moving average of $47.95 and a two-hundred day moving average of $47.05. The stock has a market capitalization of $12.84 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 2.64 and a beta of 0.19. Campbell Soup has a fifty-two week low of $39.65 and a fifty-two week high of $52.81. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.22 and a current ratio of 0.61.

Campbell Soup (NASDAQ:CPB) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.01. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. Campbell Soup had a return on equity of 24.08% and a net margin of 5.88%. Campbell Soup’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.50 EPS. On average, research analysts expect that Campbell Soup will post 3.2 earnings per share for the current year.

Institutional Trading of Campbell Soup

Several hedge funds have recently made changes to their positions in the company. M&G Plc purchased a new stake in Campbell Soup in the 2nd quarter valued at about $469,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Campbell Soup in the 1st quarter worth approximately $672,000. Swedbank AB purchased a new position in shares of Campbell Soup during the 1st quarter worth approximately $11,405,000. Dimensional Fund Advisors LP increased its holdings in Campbell Soup by 14.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,876,253 shares of the company’s stock valued at $129,971,000 after purchasing an additional 363,736 shares during the last quarter. Finally, MN Wealth Advisors LLC purchased a new stake in Campbell Soup in the third quarter valued at approximately $940,000. Hedge funds and other institutional investors own 52.35% of the company’s stock.

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.