Campbell Soup (NYSE:CPB) Upgraded to Market Perform at Sanford C. Bernstein

Campbell Soup (NYSE:CPBGet Free Report) was upgraded by investment analysts at Sanford C. Bernstein from an “underperform” rating to a “market perform” rating in a research note issued on Wednesday, FinViz reports. The brokerage presently has a $46.00 price objective on the stock, up from their prior price objective of $42.00. Sanford C. Bernstein’s price target would suggest a potential downside of 0.02% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Piper Sandler reiterated a “neutral” rating and issued a $47.00 price objective on shares of Campbell Soup in a research note on Tuesday, March 26th. Evercore ISI started coverage on shares of Campbell Soup in a research note on Wednesday, March 13th. They issued an “in-line” rating and a $49.00 target price for the company. JPMorgan Chase & Co. boosted their target price on shares of Campbell Soup from $47.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. DA Davidson started coverage on shares of Campbell Soup in a report on Friday, March 1st. They set a “buy” rating and a $48.00 price target on the stock. Finally, Citigroup assumed coverage on shares of Campbell Soup in a report on Thursday, February 1st. They issued a “sell” rating and a $41.00 price objective for the company. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $46.35.

Read Our Latest Stock Analysis on Campbell Soup

Campbell Soup Price Performance

CPB opened at $46.01 on Wednesday. The firm has a market capitalization of $13.72 billion, a P/E ratio of 17.97, a PEG ratio of 3.02 and a beta of 0.23. The stock has a fifty day moving average of $44.06 and a 200-day moving average of $43.07. The company has a quick ratio of 0.43, a current ratio of 1.01 and a debt-to-equity ratio of 1.17. Campbell Soup has a 12-month low of $37.94 and a 12-month high of $54.40.

Campbell Soup (NYSE:CPBGet Free Report) last announced its quarterly earnings data on Wednesday, March 6th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.03. Campbell Soup had a return on equity of 23.18% and a net margin of 8.26%. The firm had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the prior year, the business earned $0.80 EPS. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. Equities analysts forecast that Campbell Soup will post 3.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Campbell Soup

A number of institutional investors and hedge funds have recently bought and sold shares of CPB. Massmutual Trust Co. FSB ADV increased its holdings in shares of Campbell Soup by 165.7% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the company’s stock worth $28,000 after purchasing an additional 406 shares during the period. Mather Group LLC. acquired a new stake in Campbell Soup during the first quarter worth about $28,000. Jones Financial Companies Lllp bought a new position in Campbell Soup during the fourth quarter valued at about $31,000. Allworth Financial LP raised its holdings in Campbell Soup by 110.0% in the 3rd quarter. Allworth Financial LP now owns 819 shares of the company’s stock valued at $34,000 after acquiring an additional 429 shares in the last quarter. Finally, Larson Financial Group LLC lifted its position in shares of Campbell Soup by 3,760.9% in the 1st quarter. Larson Financial Group LLC now owns 888 shares of the company’s stock worth $39,000 after acquiring an additional 865 shares during the period. Institutional investors own 52.35% of the company’s stock.

About Campbell Soup

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Campbell Soup (NYSE:CPB)

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