CCM Investment Group LLC Takes 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 bought a new position in shares of The Campbell's Company (NASDAQ:CPB - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,509 shares of the company's stock, valued at approximately $338,000.

Several other hedge funds also recently made changes to their positions in CPB. Nuveen LLC bought a new position in Campbell's in the first quarter valued at approximately $65,588,000. Aigen Investment Management LP bought a new position in Campbell's in the first quarter valued at approximately $1,836,000. Invesco Ltd. increased its stake in Campbell's by 6.9% in the first quarter. Invesco Ltd. now owns 4,965,668 shares of the company's stock valued at $198,229,000 after acquiring an additional 320,120 shares during the last quarter. Koss Olinger Consulting LLC grew its stake in shares of Campbell's by 3.4% during the first quarter. Koss Olinger Consulting LLC now owns 54,180 shares of the company's stock worth $2,163,000 after buying an additional 1,769 shares during the last quarter. Finally, National Bank of Canada FI grew its stake in shares of Campbell's by 7.2% during the first quarter. National Bank of Canada FI now owns 100,904 shares of the company's stock worth $4,028,000 after buying an additional 6,739 shares during the last quarter. 52.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on CPB. Royal Bank Of Canada decreased their target price on shares of Campbell's from $44.00 to $38.00 and set a "sector perform" rating on the stock in a research note on Tuesday, June 3rd. Citigroup decreased 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 note on Tuesday, June 3rd. UBS Group began coverage on shares of Campbell's in a research note on Wednesday, April 23rd. They set a "sell" rating and a $36.00 target price on the stock. Piper Sandler reaffirmed a "neutral" rating and set a $34.00 target price (down previously from $35.00) on shares of Campbell's in a research note on Thursday, August 7th. Finally, Wells Fargo & Company decreased their target price on shares of Campbell's from $34.00 to $32.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 9th. Five investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Campbell's has a consensus rating of "Hold" and an average price target of $39.06.

Campbell's Trading Up 0.3%

CPB stock traded up $0.10 during midday trading on Friday, hitting $32.50. The stock had a trading volume of 1,771,118 shares, compared to its average volume of 4,115,057. The firm has a market cap of $9.69 billion, a P/E ratio of 21.52, a price-to-earnings-growth ratio of 10.17 and a beta of 0.08. The company has a current ratio of 0.78, a quick ratio of 0.33 and a debt-to-equity ratio of 1.57. The Campbell's Company has a 1-year low of $29.39 and a 1-year high of $52.81. The business has a fifty day moving average price of $31.99 and a two-hundred day moving average price of $35.65.

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 the consensus estimate of $0.65 by $0.08. Campbell's had a net margin of 4.44% and a return on equity of 23.22%. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the previous year, the business earned $0.75 earnings per share. Campbell's's revenue for the quarter was up 4.5% on a year-over-year basis. On average, sell-side analysts predict 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.