Royal Bank of Canada Boosts Campbell Soup (NASDAQ:CPB) Price Target to $51.00

Campbell Soup (NASDAQ:CPB) had its price target raised by Royal Bank of Canada from $47.00 to $51.00 in a report issued on Friday morning, Benzinga reports. The firm currently has a sector perform rating on the stock.

CPB has been the subject of a number of other research reports. JPMorgan Chase & Co. increased their target price on Campbell Soup from $55.00 to $57.00 and gave the stock an overweight rating in a report on Wednesday, September 11th. TD Cowen lifted their target price on Campbell Soup from $47.00 to $51.00 and gave the company a hold rating in a research report on Thursday. Citigroup upped their price target on Campbell Soup from $41.00 to $42.00 and gave the stock a sell rating in a research report on Thursday, May 23rd. DA Davidson lifted their price objective on shares of Campbell Soup from $47.00 to $49.00 and gave the company a buy rating in a report on Monday, June 10th. Finally, Barclays increased their target price on shares of Campbell Soup from $45.00 to $49.00 and gave the stock an underweight rating in a report on Thursday. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Campbell Soup currently has an average rating of Hold and a consensus target price of $48.92.

Campbell Soup Price Performance

Shares of CPB opened at $51.09 on Friday. The stock has a 50 day simple moving average of $48.60 and a 200 day simple moving average of $45.78. Campbell Soup has a 52-week low of $37.94 and a 52-week high of $52.81. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.24 and a current ratio of 0.61. The firm has a market capitalization of $15.25 billion, a PE ratio of 20.68, a P/E/G ratio of 3.09 and a beta of 0.18.

Campbell Soup (NASDAQ:CPB) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.01. Campbell Soup had a net margin of 5.88% and a return on equity of 24.08%. The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the prior year, the company earned $0.50 earnings per share. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. Sell-side analysts predict that Campbell Soup will post 3.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Campbell Soup

Several hedge funds have recently bought and sold shares of CPB. Mather Group LLC. bought a new position in Campbell Soup during the first quarter worth about $28,000. Jones Financial Companies Lllp acquired a new position in shares of Campbell Soup during the 4th quarter worth approximately $31,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Campbell Soup during the second quarter worth approximately $32,000. Larson Financial Group LLC increased its stake in Campbell Soup by 3,760.9% during 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. Finally, TruNorth Capital Management LLC bought a new stake in shares of Campbell Soup during the 2nd quarter valued at $44,000. 52.35% of the stock is currently owned by institutional investors and hedge funds.

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.