Allspring Global Investments Holdings LLC Sells 45,964 Shares of The Campbell's Company (NASDAQ:CPB)

Allspring Global Investments Holdings LLC decreased its stake in shares of The Campbell's Company (NASDAQ:CPB - Free Report) by 22.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 156,914 shares of the company's stock after selling 45,964 shares during the period. Allspring Global Investments Holdings LLC owned 0.05% of Campbell's worth $6,261,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CPB. QSM Asset Management Ltd grew its position in shares of Campbell's by 25.2% in the first quarter. QSM Asset Management Ltd now owns 198,539 shares of the company's stock valued at $8,029,000 after purchasing an additional 40,000 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Campbell's by 13.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,865 shares of the company's stock valued at $1,027,000 after purchasing an additional 3,010 shares during the period. Diversified Trust Co boosted its holdings in Campbell's by 12.4% in the first quarter. Diversified Trust Co now owns 98,482 shares of the company's stock valued at $3,931,000 after acquiring an additional 10,896 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its holdings in Campbell's by 14.7% in the first quarter. Creative Financial Designs Inc. ADV now owns 4,875 shares of the company's stock valued at $195,000 after acquiring an additional 623 shares during the last quarter. Finally, Value Partners Investments Inc. acquired a new position in Campbell's in the first quarter valued at $3,597,000. Hedge funds and other institutional investors own 52.35% of the company's stock.

Campbell's Price Performance

Shares of NASDAQ:CPB traded up $0.23 on Tuesday, reaching $31.04. 5,265,413 shares of the company traded hands, compared to its average volume of 3,117,053. The Campbell's Company has a fifty-two week low of $30.28 and a fifty-two week high of $52.81. The company's 50 day moving average is $33.58 and its 200-day moving average is $37.15. The stock has a market capitalization of $9.25 billion, a PE ratio of 20.56, a P/E/G ratio of 8.99 and a beta of 0.08. 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 released its earnings results on Monday, June 2nd. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.08. The company had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.44 billion. Campbell's had a return on equity of 23.22% and a net margin of 4.44%. The company's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.75 earnings per share. As a group, analysts anticipate that The Campbell's Company will post 3.15 earnings per share for the current fiscal year.

Campbell's Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 4th. Stockholders of record on Thursday, July 3rd will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date is Thursday, July 3rd. Campbell's's dividend payout ratio (DPR) is presently 103.31%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CPB. Consumer Edge reiterated an "equal weight" rating on shares of Campbell's in a report on Monday, March 17th. Deutsche Bank Aktiengesellschaft decreased their target price on Campbell's from $43.00 to $39.00 and set a "hold" rating for the company in a research report on Wednesday, May 21st. Stephens decreased their target price on Campbell's from $48.00 to $43.00 in a research report on Wednesday, May 28th. DA Davidson decreased their target price on Campbell's from $39.00 to $34.00 and set a "neutral" rating for the company in a research report on Monday, June 9th. Finally, Jefferies Financial Group cut their price target on Campbell's from $40.00 to $37.00 and set a "buy" rating on the stock in a research note on Wednesday, May 21st. Five equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $40.11.

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.