8,858 Shares in The Campbell's Company (NASDAQ:CPB) Acquired by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd purchased 8,858 shares of The Campbell's Company valued at approximately $354,000, indicating growing institutional interest in the stock.
• Analyst opinions are bearish, with multiple firms lowering their price targets for Campbell's stock, with a consensus rating of "Hold" and a target price of $39.11.
• The company recently announced a quarterly dividend of $0.39 per share, representing a 4.9% yield, while maintaining a high dividend payout ratio of 103.31%.

Bayforest Capital Ltd purchased a new stake in The Campbell's Company (NASDAQ:CPB - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 8,858 shares of the company's stock, valued at approximately $354,000.

Several other large investors have also modified their holdings of the business. Banque Cantonale Vaudoise bought a new position in shares of Campbell's during the 1st quarter worth approximately $47,000. Federated Hermes Inc. grew its position in Campbell's by 955.4% during the 1st quarter. Federated Hermes Inc. now owns 3,641 shares of the company's stock worth $145,000 after purchasing an additional 3,296 shares during the last quarter. Empirical Finance LLC grew its position in Campbell's by 8.0% during the 1st quarter. Empirical Finance LLC now owns 7,317 shares of the company's stock worth $292,000 after purchasing an additional 543 shares during the last quarter. Heartland Advisors Inc. purchased a new stake in Campbell's during the 1st quarter worth approximately $5,342,000. Finally, Assetmark Inc. grew its position in Campbell's by 58.9% during the 1st quarter. Assetmark Inc. now owns 6,118 shares of the company's stock worth $244,000 after purchasing an additional 2,267 shares during the last quarter. Institutional investors own 52.35% of the company's stock.

Campbell's Trading Up 1.4%

CPB stock traded up $0.45 during mid-day trading on Tuesday, hitting $32.74. 1,896,228 shares of the company were exchanged, compared to its average volume of 4,111,322. The company has a quick ratio of 0.33, a current ratio of 0.78 and a debt-to-equity ratio of 1.57. The firm has a market capitalization of $9.76 billion, a P/E ratio of 21.67, a PEG ratio of 10.05 and a beta of 0.08. The business has a fifty day simple moving average of $32.26 and a 200-day simple moving average of $35.97. The Campbell's Company has a 12-month low of $29.39 and a 12-month 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 the consensus estimate 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 net margin of 4.44% and a return on equity of 23.22%. Campbell's's revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.75 earnings per share. On average, equities research analysts predict that The Campbell's Company will post 3.15 earnings per share for the current fiscal year.

Campbell's Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 4th. Stockholders of record on Thursday, July 3rd were paid a $0.39 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $1.56 annualized dividend and a dividend yield of 4.8%. Campbell's's dividend payout ratio (DPR) is presently 103.31%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CPB shares. Citigroup dropped their target price on shares of Campbell's from $33.00 to $32.00 and set a "sell" rating on the stock in a research report on Tuesday, June 3rd. Morgan Stanley dropped their price objective on shares of Campbell's from $40.00 to $35.00 and set an "equal weight" rating on the stock in a report on Tuesday, June 3rd. Stifel Nicolaus decreased their target price on shares of Campbell's from $38.00 to $34.00 and set a "hold" rating for the company in a research note on Tuesday, July 29th. Evercore ISI reduced their price objective on shares of Campbell's from $46.00 to $41.00 and set an "in-line" rating for the company in a research report on Thursday, May 29th. Finally, Bank of America reduced their price objective on shares of Campbell's from $37.00 to $33.00 and set an "underperform" rating for the company in a research report on Tuesday, June 3rd. Five investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, Campbell's currently has a consensus rating of "Hold" and an average price target of $39.11.

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.