JPMorgan Chase & Co. Raises Campbell Soup (NASDAQ:CPB) Price Target to $57.00

Campbell Soup (NASDAQ:CPB) had its price target raised by JPMorgan Chase & Co. from $55.00 to $57.00 in a research report sent to investors on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other research analysts have also recently issued reports on CPB. Sanford C. Bernstein raised shares of Campbell Soup from an underperform rating to a market perform rating and lifted their price objective for the company from $42.00 to $46.00 in a research note on Wednesday, May 15th. 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 research note on Monday, June 10th. Citigroup lifted their price objective on shares of Campbell Soup from $41.00 to $42.00 and gave the company a sell rating in a research note on Thursday, May 23rd. StockNews.com cut shares of Campbell Soup from a hold rating to a sell rating in a research note on Wednesday. Finally, TD Cowen lifted their price objective on shares of Campbell Soup from $46.00 to $47.00 and gave the company a hold rating in a research note on Wednesday, August 21st. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $48.92.

Campbell Soup Stock Up 2.6 %

Shares of CPB opened at $51.09 on Wednesday. Campbell Soup has a 12 month low of $37.94 and a 12 month high of $52.81. The firm’s 50 day moving average is $48.48 and its 200-day moving average is $45.69. The stock 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. The company has a current ratio of 0.61, a quick ratio of 0.24 and a debt-to-equity ratio of 1.52.

Campbell Soup (NASDAQ:CPB) last announced its earnings results on Thursday, August 29th. The company reported $0.63 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period last year, the firm earned $0.50 earnings per share. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. Equities research analysts forecast that Campbell Soup will post 3.18 EPS for the current year.

Hedge Funds Weigh In On Campbell Soup

A number of hedge funds have recently modified their holdings of CPB. Mather Group LLC. acquired a new position in shares of Campbell Soup during the first quarter worth $28,000. Jones Financial Companies Lllp acquired a new position in shares of Campbell Soup during the fourth quarter worth $31,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Campbell Soup during the second quarter worth $32,000. Larson Financial Group LLC lifted its holdings in shares of Campbell Soup by 3,760.9% during the first quarter. Larson Financial Group LLC now owns 888 shares of the company’s stock worth $39,000 after purchasing an additional 865 shares during the period. Finally, TruNorth Capital Management LLC acquired a new position in shares of Campbell Soup during the second quarter worth $44,000. 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.