Campbell's (NASDAQ:CPB) Sees Unusually-High Trading Volume - Here's Why

Shares of The Campbell's Company (NASDAQ:CPB - Get Free Report) saw unusually-high trading volume on Thursday . Approximately 4,584,743 shares traded hands during mid-day trading, an increase of 46% from the previous session's volume of 3,134,870 shares.The stock last traded at $30.43 and had previously closed at $30.74.

Analyst Ratings Changes

CPB has been the subject of several recent research reports. DA Davidson reduced their price target on Campbell's from $39.00 to $34.00 and set a "neutral" rating for the company in a research note on Monday, June 9th. Morgan Stanley cut their target price on Campbell's from $40.00 to $35.00 and set an "equal weight" rating for the company in a research report on Tuesday, June 3rd. Jefferies Financial Group cut their target price on Campbell's from $40.00 to $37.00 and set a "buy" rating for the company in a research report on Wednesday, May 21st. Bank of America cut their target price on Campbell's from $37.00 to $33.00 and set an "underperform" rating for the company in a research report on Tuesday, June 3rd. Finally, Piper Sandler cut their target price on Campbell's from $45.00 to $42.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. Five equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $40.00.

Campbell's Trading Down 0.8%

The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.33 and a current ratio of 0.78. The firm has a market cap of $9.09 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 8.97 and a beta of 0.08. The business has a fifty day simple moving average of $33.35 and a 200-day simple moving average of $37.03.

Campbell's (NASDAQ:CPB - Get Free Report) last posted its earnings results on Monday, June 2nd. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.65 by $0.08. The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.44 billion. Campbell's had a return on equity of 23.22% and a net margin of 4.44%. The business's quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the company earned $0.75 earnings per share. As a group, equities analysts forecast that The Campbell's Company will post 3.15 earnings per share for the current fiscal year.

Campbell's Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 4th. Shareholders of record on Thursday, July 3rd will be given a $0.39 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.56 annualized dividend and a yield of 5.12%. Campbell's's dividend payout ratio is presently 103.31%.

Institutional Investors Weigh In On Campbell's

Several institutional investors and hedge funds have recently made changes to their positions in CPB. Nuveen LLC acquired a new stake in shares of Campbell's in the first quarter valued at about $65,588,000. Two Sigma Advisers LP increased its stake in shares of Campbell's by 272.7% in the fourth quarter. Two Sigma Advisers LP now owns 2,243,300 shares of the company's stock valued at $93,949,000 after buying an additional 1,641,400 shares during the period. Man Group plc increased its stake in shares of Campbell's by 1,296.1% in the fourth quarter. Man Group plc now owns 1,407,161 shares of the company's stock valued at $58,932,000 after buying an additional 1,306,372 shares during the period. Invesco Ltd. grew its stake in Campbell's by 38.2% during the fourth quarter. Invesco Ltd. now owns 4,645,548 shares of the company's stock worth $194,556,000 after purchasing an additional 1,282,957 shares during the period. Finally, Norges Bank acquired a new stake in Campbell's during the fourth quarter worth approximately $50,908,000. Institutional investors and hedge funds own 52.35% of the company's stock.

About Campbell's

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.