Campbell's (NASDAQ:CPB) Sets New 1-Year Low - Here's What Happened

Shares of The Campbell's Company (NASDAQ:CPB - Get Free Report) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $32.95 and last traded at $33.70, with a volume of 5980389 shares changing hands. The stock had previously closed at $34.11.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. BNP Paribas upgraded Campbell's to a "strong sell" rating in a report on Wednesday, February 26th. DA Davidson cut their target price on shares of Campbell's from $46.00 to $39.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Piper Sandler decreased their price target on shares of Campbell's from $45.00 to $42.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. UBS Group began coverage on shares of Campbell's in a report on Wednesday, April 23rd. They set a "sell" rating and a $36.00 price objective on the stock. Finally, Royal Bank of Canada reduced their target price on Campbell's from $51.00 to $44.00 and set a "sector perform" rating for the company in a research note on Thursday, March 6th. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $42.40.

Campbell's Price Performance

The company's 50-day simple moving average is $36.62 and its two-hundred day simple moving average is $39.34. The firm has a market cap of $10.19 billion, a PE ratio of 18.67, a PEG ratio of 2.71 and a beta of 0.14. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.50 and a current ratio of 0.91.

Campbell's (NASDAQ:CPB - Get Free Report) last posted its earnings results on Wednesday, March 5th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.01. Campbell's had a return on equity of 23.79% and a net margin of 5.57%. The company had revenue of $2.69 billion for the quarter, compared to analysts' expectations of $2.74 billion. The firm's revenue was up 9.3% compared to the same quarter last year. On average, analysts predict that The Campbell's Company will post 3.15 earnings per share for the current fiscal year.

Campbell's Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 4th. Stockholders of record on Thursday, July 3rd will be given a $0.39 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.56 annualized dividend and a dividend yield of 4.57%. Campbell's's dividend payout ratio is 90.17%.

Insider Activity

In other Campbell's news, EVP Charles A. Brawley III sold 2,498 shares of the company's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $40.03, for a total value of $99,994.94. Following the sale, the executive vice president now owns 37,590 shares in the company, valued at approximately $1,504,727.70. This represents a 6.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 20.19% of the company's stock.

Institutional Trading of Campbell's

A number of hedge funds have recently made changes to their positions in CPB. Principal Securities Inc. raised its stake in Campbell's by 45.5% during the fourth quarter. Principal Securities Inc. now owns 927 shares of the company's stock valued at $39,000 after buying an additional 290 shares during the last quarter. SPC Financial Inc. raised its position in shares of Campbell's by 2.3% in the 4th quarter. SPC Financial Inc. now owns 13,575 shares of the company's stock worth $569,000 after purchasing an additional 300 shares during the last quarter. Ascent Wealth Partners LLC boosted its stake in Campbell's by 1.5% in the 4th quarter. Ascent Wealth Partners LLC now owns 20,176 shares of the company's stock worth $845,000 after purchasing an additional 306 shares in the last quarter. DoubleLine ETF Adviser LP grew its position in Campbell's by 2.8% during the 4th quarter. DoubleLine ETF Adviser LP now owns 11,640 shares of the company's stock valued at $487,000 after purchasing an additional 312 shares during the last quarter. Finally, Spire Wealth Management grew its position in Campbell's by 29.6% during the 4th quarter. Spire Wealth Management now owns 1,406 shares of the company's stock valued at $59,000 after purchasing an additional 321 shares during the last quarter. 52.35% of the stock is owned by institutional investors.

Campbell's Company Profile

The Campbell's Company, formerly known as 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.