Citigroup Cuts Campbell Soup (NASDAQ:CPB) Price Target to $41.00

Campbell Soup (NASDAQ:CPB) had its price target reduced by research analysts at Citigroup from $44.00 to $41.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “sell” rating on the stock. Citigroup’s target price would suggest a potential downside of 3.69% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Argus raised shares of Campbell Soup from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a report on Friday, September 20th. Stifel Nicolaus cut their price target on shares of Campbell Soup from $50.00 to $47.00 and set a “hold” rating for the company in a report on Thursday. Barclays boosted their price target on shares of Campbell Soup from $45.00 to $49.00 and gave the stock an “underweight” rating in a report on Thursday, September 12th. StockNews.com raised shares of Campbell Soup from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. Finally, Sanford C. Bernstein raised shares of Campbell Soup from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $55.00 to $58.00 in a report on Monday, October 7th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $51.17.

Campbell Soup Stock Performance

Shares of CPB traded down $0.12 during trading hours on Thursday, hitting $42.57. The stock had a trading volume of 1,037,249 shares, compared to its average volume of 2,530,484. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.22 and a current ratio of 0.61. The firm has a 50-day moving average price of $46.49 and a 200 day moving average price of $47.00. Campbell Soup has a fifty-two week low of $40.26 and a fifty-two week high of $52.81. The firm has a market capitalization of $12.67 billion, a price-to-earnings ratio of 23.26, a PEG ratio of 2.62 and a beta of 0.18.

Institutional Investors Weigh In On Campbell Soup

A number of hedge funds have recently modified their holdings of CPB. LSV Asset Management grew its holdings in shares of Campbell Soup by 5,022.5% in the second quarter. LSV Asset Management now owns 2,438,300 shares of the company’s stock valued at $110,187,000 after purchasing an additional 2,390,700 shares during the period. Franklin Resources Inc. grew its holdings in shares of Campbell Soup by 1,593.8% in the third quarter. Franklin Resources Inc. now owns 1,904,440 shares of the company’s stock valued at $91,623,000 after purchasing an additional 1,792,005 shares during the period. Wulff Hansen & CO. grew its holdings in shares of Campbell Soup by 4,419.0% in the second quarter. Wulff Hansen & CO. now owns 732,530 shares of the company’s stock valued at $33,103,000 after purchasing an additional 716,320 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Campbell Soup by 88.2% in the third quarter. Victory Capital Management Inc. now owns 1,192,610 shares of the company’s stock valued at $58,342,000 after purchasing an additional 558,944 shares during the period. Finally, Armistice Capital LLC grew its holdings in shares of Campbell Soup by 94.0% in the second quarter. Armistice Capital LLC now owns 1,067,914 shares of the company’s stock valued at $48,259,000 after purchasing an additional 517,550 shares during the period. Hedge funds and other institutional investors 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.