Morgan Stanley Issues Pessimistic Forecast for Campbell’s (NASDAQ:CPB) Stock Price

Campbell’s (NASDAQ:CPB) had its price target lowered by Morgan Stanley from $40.00 to $35.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 2.10% from the company’s previous close.

Several other research analysts have also issued reports on CPB. Piper Sandler cut their price target on Campbell’s from $45.00 to $42.00 and set an “overweight” rating on the stock in a report on Friday, May 23rd. DA Davidson lowered their price objective on Campbell’s from $46.00 to $39.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. UBS Group started coverage on Campbell’s in a research note on Wednesday, April 23rd. They issued a “sell” rating and a $36.00 price objective for the company. Evercore ISI lowered their price objective on Campbell’s from $46.00 to $41.00 and set an “in-line” rating for the company in a research note on Thursday, May 29th. Finally, Citigroup lowered their price objective on Campbell’s from $33.00 to $32.00 and set a “sell” rating for the company in a research note on Tuesday. Five investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $40.39.

Campbell’s Trading Up 0.1%

Shares of CPB stock opened at $34.28 on Tuesday. The stock has a market cap of $10.22 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 2.71 and a beta of 0.14. The stock has a 50-day moving average of $36.31 and a 200-day moving average of $39.14. 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’s has a 1-year low of $32.95 and a 1-year high of $52.81.

Campbell’s (NASDAQ:CPB) last announced its earnings results on Monday, June 2nd. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.65 by $0.08. Campbell’s had a return on equity of 23.79% and a net margin of 5.57%. The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the prior year, the company earned $0.75 EPS. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, equities research analysts forecast that Campbell’s will post 3.15 earnings per share for the current year.

Insider Activity

In related news, EVP Charles A. Brawley III sold 2,498 shares of the business’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $40.03, for a total transaction of $99,994.94. Following the completion of the transaction, the executive vice president now directly owns 37,590 shares in the company, valued at $1,504,727.70. The trade was a 6.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 20.19% of the stock is owned by company insiders.

Hedge Funds Weigh In On Campbell’s

A number of large investors have recently modified their holdings of CPB. Manchester Capital Management LLC grew its stake in shares of Campbell’s by 923.2% during the first quarter. Manchester Capital Management LLC now owns 706 shares of the company’s stock valued at $28,000 after buying an additional 637 shares during the last quarter. NBC Securities Inc. bought a new stake in shares of Campbell’s in the 1st quarter valued at about $31,000. Sherman Asset Management Inc. bought a new stake in shares of Campbell’s in the 4th quarter valued at about $36,000. Principal Securities Inc. lifted its stake in shares of Campbell’s by 45.5% in the 4th quarter. Principal Securities Inc. now owns 927 shares of the company’s stock valued at $39,000 after acquiring an additional 290 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Campbell’s by 333.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 975 shares of the company’s stock valued at $39,000 after acquiring an additional 750 shares during the last quarter. 52.35% of the stock is owned by hedge funds and other institutional investors.

About Campbell’s

The Campbell’s Company, formerly known as 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.