Wells Fargo & Company Boosts Campbell Soup (NASDAQ:CPB) Price Target to $51.00

Campbell Soup (NASDAQ:CPB) had its target price increased by Wells Fargo & Company from $49.00 to $51.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 2.45% from the stock’s previous close.

A number of other analysts have also commented on the company. JPMorgan Chase & Co. raised Campbell Soup from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $45.00 to $52.00 in a research note on Wednesday, June 26th. Stifel Nicolaus reaffirmed a “hold” rating and set a $45.00 price target on shares of Campbell Soup in a research note on Tuesday, August 27th. Sanford C. Bernstein raised shares of Campbell Soup from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $42.00 to $46.00 in a research report on Wednesday, May 15th. TD Cowen lifted their target price on shares of Campbell Soup from $46.00 to $47.00 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $47.00 price target on shares of Campbell Soup in a research note on Tuesday, August 27th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $48.58.

Campbell Soup Price Performance

Shares of NASDAQ CPB opened at $49.78 on Wednesday. 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 company’s 50-day moving average price is $48.39 and its 200 day moving average price is $45.66. Campbell Soup has a 52 week low of $37.94 and a 52 week high of $52.81. The stock has a market cap of $14.86 billion, a price-to-earnings ratio of 20.15, a PEG ratio of 3.26 and a beta of 0.18.

Campbell Soup (NASDAQ:CPB) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. Campbell Soup had a net margin of 5.88% and a return on equity of 24.08%. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period last year, the company posted $0.50 EPS. The company’s revenue was up 10.9% on a year-over-year basis. As a group, research analysts forecast that Campbell Soup will post 3.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Campbell Soup

Several institutional investors and hedge funds have recently bought and sold shares of the stock. M&G Plc acquired a new stake in shares of Campbell Soup in the second quarter worth $469,000. Lingohr Asset Management GmbH acquired a new stake in shares of Campbell Soup in the fourth quarter worth $627,000. First Trust Advisors LP increased its position in shares of Campbell Soup by 6.5% in the fourth quarter. First Trust Advisors LP now owns 661,401 shares of the company’s stock worth $28,592,000 after acquiring an additional 40,504 shares in the last quarter. Stephens Inc. AR acquired a new stake in shares of Campbell Soup in the fourth quarter worth $1,211,000. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in Campbell Soup during the 4th quarter valued at $1,045,000. Institutional investors and hedge funds 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.