Wells Fargo & Company Issues Pessimistic Forecast for Campbell Soup (NASDAQ:CPB) Stock Price

Campbell Soup (NASDAQ:CPB) had its price objective dropped by Wells Fargo & Company from $43.00 to $40.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential downside of 4.33% from the company’s previous close.

Several other research analysts have also issued reports on the company. Barclays decreased their target price on Campbell Soup from $49.00 to $46.00 and set an “underweight” rating for the company in a research report on Friday, December 6th. BNP Paribas raised Campbell Soup to a “strong sell” rating in a research report on Wednesday, February 26th. Stephens restated an “overweight” rating on shares of Campbell Soup in a research note on Wednesday, December 4th. Royal Bank of Canada restated a “sector perform” rating and issued a $51.00 price target on shares of Campbell Soup in a research note on Monday, December 2nd. Finally, DA Davidson restated a “neutral” rating and issued a $51.00 price target on shares of Campbell Soup in a research note on Wednesday, December 4th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. According to MarketBeat, Campbell Soup currently has a consensus rating of “Hold” and a consensus target price of $46.36.

Campbell Soup Trading Up 5.1 %

CPB opened at $41.81 on Thursday. Campbell Soup has a one year low of $36.92 and a one year high of $52.81. The firm has a market capitalization of $12.46 billion, a price-to-earnings ratio of 22.85, a PEG ratio of 2.71 and a beta of 0.19. The business has a 50 day simple moving average of $39.39 and a two-hundred day simple moving average of $44.36. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.91 and a quick ratio of 0.50.

Campbell Soup (NASDAQ:CPB) last announced its earnings results on Wednesday, March 5th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.01. Campbell Soup had a return on equity of 23.79% and a net margin of 5.57%. The firm had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.74 billion. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. Analysts predict that Campbell Soup will post 3.15 EPS for the current year.

Insider Buying and Selling at Campbell Soup

In other news, EVP Anthony Sanzio sold 2,000 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $41.90, for a total value of $83,800.00. Following the transaction, the executive vice president now directly owns 16,551 shares in the company, valued at $693,486.90. This trade represents a 10.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 20.19% of the company’s stock.

Hedge Funds Weigh In On Campbell Soup

A number of institutional investors and hedge funds have recently modified their holdings of CPB. Sherman Asset Management Inc. purchased a new position in shares of Campbell Soup in the 4th quarter worth $36,000. Ashton Thomas Securities LLC purchased a new position in shares of Campbell Soup in the 3rd quarter worth $39,000. Principal Securities Inc. boosted its stake in shares of Campbell Soup by 45.5% in 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 purchased a new position in shares of Campbell Soup in the 4th quarter worth $42,000. Finally, Quent Capital LLC boosted its stake in shares of Campbell Soup by 77.7% in 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 hedge funds and other institutional investors.

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.