Campbell Soup (NASDAQ:CPB) Downgraded to Neutral Rating by JPMorgan Chase & Co.

Campbell Soup (NASDAQ:CPB) was downgraded by equities researchers at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued to investors on Thursday,Briefing.com Automated Import reports. They presently have a $37.00 price objective on the stock, down from their prior price objective of $48.00. JPMorgan Chase & Co.‘s target price points to a potential downside of 5.56% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Jefferies Financial Group cut their price target on shares of Campbell Soup from $42.00 to $40.00 and set a “hold” rating on the stock in a report on Wednesday. DA Davidson reissued a “neutral” rating and issued a $51.00 target price on shares of Campbell Soup in a research report on Wednesday, December 4th. Piper Sandler upgraded Campbell Soup from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $47.00 to $56.00 in a research note on Thursday, November 14th. Wells Fargo & Company reduced their price objective on Campbell Soup from $45.00 to $43.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $51.00 target price on shares of Campbell Soup in a research report on Monday, December 2nd. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Campbell Soup currently has a consensus rating of “Hold” and an average price target of $47.85.

Campbell Soup Stock Performance

CPB stock opened at $39.18 on Thursday. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.91 and a quick ratio of 0.50. Campbell Soup has a 1-year low of $36.92 and a 1-year high of $52.81. The business has a 50-day moving average price of $39.48 and a 200 day moving average price of $44.43. The company has a market capitalization of $11.68 billion, a P/E ratio of 21.41, a PEG ratio of 2.71 and a beta of 0.19.

Campbell Soup (NASDAQ:CPB) last released its quarterly earnings data on Wednesday, March 5th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The firm had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.74 billion. Campbell Soup had a net margin of 5.57% and a return on equity of 23.79%. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. As a group, equities research analysts forecast that Campbell Soup will post 3.15 EPS for the current fiscal year.

Insider Transactions at Campbell Soup

In other news, EVP Anthony Sanzio sold 2,000 shares of Campbell Soup stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $41.90, for a total value of $83,800.00. Following the completion of the sale, the executive vice president now directly owns 16,551 shares of the company’s stock, valued at approximately $693,486.90. The trade was a 10.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 20.19% of the company’s stock.

Hedge Funds Weigh In On Campbell Soup

Several institutional investors have recently bought and sold shares of the company. Siemens Fonds Invest GmbH acquired a new stake in Campbell Soup during the 4th quarter worth approximately $135,000. QSM Asset Management Ltd purchased a new position in Campbell Soup in the fourth quarter valued at approximately $6,556,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Campbell Soup during the fourth quarter worth approximately $10,462,000. Forum Financial Management LP purchased a new stake in shares of Campbell Soup during the 4th quarter worth approximately $264,000. Finally, Voloridge Investment Management LLC acquired a new position in shares of Campbell Soup in the 4th quarter valued at $18,172,000. 52.35% of the stock is owned by institutional investors and hedge funds.

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.