Aigen Investment Management LP Invests $1.84 Million in The Campbell's Company (NASDAQ:CPB)

Key Points

• Aigen Investment Management LP acquired 45,984 shares of The Campbell's Company (NASDAQ:CPB) worth approximately $1.8 million in the 1st quarter.
• The company reported earnings of $0.73 EPS for the latest quarter, exceeding expectations and showing a year-over-year revenue increase of 4.5%.
• Campbell's announced a quarterly dividend of $0.39 per share, representing an annual yield of 4.8%, though the company's payout ratio is notably high at 103.31%.

Aigen Investment Management LP bought a new position in The Campbell's Company (NASDAQ:CPB - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 45,984 shares of the company's stock, valued at approximately $1,836,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Manchester Capital Management LLC raised its stake in shares of Campbell's by 923.2% in the 1st quarter. Manchester Capital Management LLC now owns 706 shares of the company's stock valued at $28,000 after buying an additional 637 shares in the last quarter. NBC Securities Inc. bought a new position in Campbell's during the 1st quarter worth approximately $31,000. Riverview Trust Co bought a new position in Campbell's in the first quarter valued at approximately $46,000. Banque Cantonale Vaudoise acquired a new stake in shares of Campbell's in the first quarter valued at approximately $47,000. Finally, Curat Global LLC acquired a new position in Campbell's during the first quarter worth $58,000. 52.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CPB. Wells Fargo & Company reduced their target price on shares of Campbell's from $34.00 to $32.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 9th. Argus downgraded shares of Campbell's from a "buy" rating to a "hold" rating in a research report on Friday, June 20th. UBS Group started coverage on Campbell's in a report on Wednesday, April 23rd. They issued a "sell" rating and a $36.00 target price on the stock. Citigroup dropped their price objective on Campbell's from $33.00 to $32.00 and set a "sell" rating on the stock in a research note on Tuesday, June 3rd. Finally, Morgan Stanley decreased 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. Five research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $39.06.

Campbell's Price Performance

Campbell's stock traded down $0.01 during mid-day trading on Tuesday, hitting $32.10. 5,058,010 shares of the company were exchanged, compared to its average volume of 5,173,887. The company has a market capitalization of $9.57 billion, a P/E ratio of 21.26, a PEG ratio of 10.03 and a beta of 0.08. The business's 50 day simple moving average is $32.06 and its two-hundred day simple moving average is $35.73. The Campbell's Company has a 12-month low of $29.39 and a 12-month high of $52.81. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.78 and a quick ratio of 0.33.

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

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.