DA Davidson Reaffirms “Neutral” Rating for Campbell Soup (NASDAQ:CPB)

Campbell Soup (NASDAQ:CPB)‘s stock had its “neutral” rating reiterated by analysts at DA Davidson in a report issued on Wednesday,Benzinga reports. They currently have a $51.00 target price on the stock. DA Davidson’s price objective would indicate a potential upside of 19.63% from the stock’s previous close.

CPB has been the topic of a number of other research reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $51.00 price target on shares of Campbell Soup in a report on Monday. StockNews.com raised Campbell Soup from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. Piper Sandler raised Campbell Soup from a “neutral” rating to an “overweight” rating and upped their price target for the company from $47.00 to $56.00 in a report on Thursday, November 14th. TD Cowen lifted their price objective on Campbell Soup from $47.00 to $51.00 and gave the stock a “hold” rating in a report on Thursday, September 12th. Finally, Barclays upped their target price on shares of Campbell Soup from $45.00 to $49.00 and gave the company an “underweight” rating in a research note on Thursday, September 12th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, Campbell Soup has an average rating of “Hold” and an average price target of $51.17.

Campbell Soup Price Performance

Shares of NASDAQ:CPB opened at $42.63 on Wednesday. The business has a fifty day moving average price of $46.36 and a 200-day moving average price of $46.97. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.61 and a quick ratio of 0.22. The company has a market capitalization of $12.69 billion, a PE ratio of 23.30, a PEG ratio of 2.62 and a beta of 0.18. Campbell Soup has a 1-year low of $40.26 and a 1-year high of $52.81.

Hedge Funds Weigh In On Campbell Soup

A number of hedge funds have recently modified their holdings of the company. Cetera Advisors LLC raised its stake in Campbell Soup by 7.3% during the 1st quarter. Cetera Advisors LLC now owns 13,120 shares of the company’s stock valued at $583,000 after purchasing an additional 887 shares during the period. DNB Asset Management AS lifted its holdings in shares of Campbell Soup by 19.6% in the second quarter. DNB Asset Management AS now owns 41,354 shares of the company’s stock worth $1,869,000 after buying an additional 6,782 shares in the last quarter. Mather Group LLC. lifted its holdings in shares of Campbell Soup by 159.0% in the second quarter. Mather Group LLC. now owns 1,678 shares of the company’s stock worth $75,000 after buying an additional 1,030 shares in the last quarter. CWM LLC boosted its position in shares of Campbell Soup by 15.9% during the second quarter. CWM LLC now owns 4,976 shares of the company’s stock worth $225,000 after acquiring an additional 681 shares during the last quarter. Finally, Simplicity Wealth LLC purchased a new position in Campbell Soup during the second quarter valued at $214,000. 52.35% of the stock is currently owned by 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.