CCM Investment Group LLC Takes $338,000 Position in The Campbell's Company (NASDAQ:CPB)

Key Points

• CCM Investment Group LLC has acquired a new stake in The Campbell's Company (NASDAQ:CPB), purchasing 8,509 shares valued at approximately $338,000 during the first quarter.
• The company's latest quarterly earnings report showed an EPS of $0.73, exceeding analysts' expectations of $0.65, with revenue of $2.48 billion, marking a 4.5% increase from the previous year.
• Despite a solid earnings report, Campbell's stock has seen a decline of 1.4%, with several analysts recently lowering their price targets on the stock.

CCM Investment Group LLC purchased a new stake in shares of The Campbell's Company (NASDAQ:CPB - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 8,509 shares of the company's stock, valued at approximately $338,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CPB. World Investment Advisors bought a new position in Campbell's in the 1st quarter worth $410,000. Teacher Retirement System of Texas bought a new position in Campbell's in the 1st quarter worth $1,131,000. KBC Group NV raised its holdings in Campbell's by 182.0% in the 1st quarter. KBC Group NV now owns 498,216 shares of the company's stock worth $19,889,000 after purchasing an additional 321,520 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Campbell's by 13.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,865 shares of the company's stock worth $1,027,000 after purchasing an additional 3,010 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Campbell's by 24.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,366 shares of the company's stock worth $534,000 after purchasing an additional 2,614 shares during the period. 52.35% of the stock is owned by institutional investors.

Campbell's Stock Down 1.4%

CPB opened at $32.44 on Monday. 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 Campbell's Company has a 52 week low of $29.39 and a 52 week high of $52.81. The firm has a 50-day simple moving average of $32.15 and a two-hundred day simple moving average of $35.80. The company has a market capitalization of $9.67 billion, a PE ratio of 21.48, a price-to-earnings-growth ratio of 10.13 and a beta of 0.08.

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

Campbell's Dividend Announcement

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

Analyst Upgrades and Downgrades

CPB has been the topic of a number of recent research reports. Wells Fargo & Company decreased their target price on Campbell's from $34.00 to $32.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 9th. DA Davidson cut 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. Royal Bank Of Canada cut their price target on Campbell's from $44.00 to $38.00 and set a "sector perform" rating for the company in a research note on Tuesday, June 3rd. Piper Sandler reiterated a "neutral" rating and issued a $34.00 price target (down previously from $35.00) on shares of Campbell's in a research note on Thursday. Finally, UBS Group started coverage on Campbell's in a research note on Wednesday, April 23rd. They issued a "sell" rating and a $36.00 price target for the company. Five research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $39.06.

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.

Want to see what other hedge funds are holding CPB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Campbell's Company (NASDAQ:CPB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.