Allspring Global Investments Holdings LLC Reduces Stake in The Campbell's Company (NASDAQ:CPB)

Allspring Global Investments Holdings LLC trimmed its stake in shares of The Campbell's Company (NASDAQ:CPB - Free Report) by 22.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,914 shares of the company's stock after selling 45,964 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.05% of Campbell's worth $6,261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in CPB. QSM Asset Management Ltd grew its stake in 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 acquiring an additional 40,000 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in 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 acquiring an additional 3,010 shares during the period. Diversified Trust Co grew its stake 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 period. Creative Financial Designs Inc. ADV grew its stake 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 period. Finally, Value Partners Investments Inc. acquired a new stake in Campbell's in the first quarter valued at approximately $3,597,000. Institutional investors and hedge funds own 52.35% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on CPB shares. Stifel Nicolaus reduced their price objective on Campbell's from $40.00 to $38.00 and set a "hold" rating for the company in a research note on Tuesday, June 3rd. Royal Bank Of Canada dropped their target price on Campbell's from $44.00 to $38.00 and set a "sector perform" rating on the stock in a report on Tuesday, June 3rd. Argus lowered Campbell's from a "buy" rating to a "hold" rating in a report on Friday, June 20th. Deutsche Bank Aktiengesellschaft dropped their target price on Campbell's from $43.00 to $39.00 and set a "hold" rating on the stock in a report on Wednesday, May 21st. Finally, UBS Group started coverage on Campbell's in a report on Wednesday, April 23rd. They set a "sell" rating and a $36.00 price target on the stock. Five equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Campbell's presently has an average rating of "Hold" and a consensus target price of $40.00.

Campbell's Price Performance

NASDAQ CPB traded down $0.53 during trading on Wednesday, reaching $30.51. The company's stock had a trading volume of 2,442,403 shares, compared to its average volume of 3,114,779. The stock has a market capitalization of $9.10 billion, a PE ratio of 20.20, 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. The firm has a fifty day moving average of $33.58 and a 200 day moving average of $37.15. The Campbell's Company has a one year low of $30.22 and a one year high of $52.81.

Campbell's (NASDAQ:CPB - Get Free Report) last announced its earnings results on Monday, June 2nd. The company reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.08. The business had revenue of $2.48 billion for 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 quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.75 EPS. Analysts expect that The Campbell's Company will post 3.15 EPS for the current fiscal year.

Campbell's Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 4th. Investors of record on Thursday, July 3rd will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 5.11%. The ex-dividend date is Thursday, July 3rd. Campbell's's dividend payout ratio is presently 103.31%.

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.