Cerity Partners LLC Acquires 231,418 Shares of The Campbell's Company (NASDAQ:CPB)

Cerity Partners LLC increased its holdings in shares of The Campbell's Company (NASDAQ:CPB - Free Report) by 27.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,068,719 shares of the company's stock after acquiring an additional 231,418 shares during the period. Cerity Partners LLC owned about 0.36% of Campbell's worth $42,663,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. World Investment Advisors acquired a new stake in Campbell's in the first quarter valued at $410,000. Mirae Asset Global Investments Co. Ltd. raised its holdings 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 worth $1,027,000 after acquiring an additional 3,010 shares during the last quarter. KBC Group NV lifted its position in shares of Campbell's by 182.0% in the first quarter. KBC Group NV now owns 498,216 shares of the company's stock valued at $19,889,000 after acquiring an additional 321,520 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Campbell's by 24.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,366 shares of the company's stock valued at $534,000 after acquiring an additional 2,614 shares in the last quarter. Finally, Value Partners Investments Inc. acquired a new position in Campbell's in the first quarter valued at $3,597,000. 52.35% of the stock is owned by institutional investors.

Campbell's Price Performance

Shares of NASDAQ CPB traded down $0.30 during midday trading on Tuesday, reaching $30.41. 5,744,871 shares of the company were exchanged, compared to its average volume of 3,248,940. 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 stock has a market cap of $9.07 billion, a P/E ratio of 20.14, a PEG ratio of 9.12 and a beta of 0.08. The stock's 50-day moving average price is $33.26 and its 200-day moving average price is $36.89. The Campbell's Company has a one year low of $29.39 and a one year high of $52.81.

Campbell's (NASDAQ:CPB - Get Free Report) last posted its earnings results on Monday, June 2nd. The company reported $0.73 earnings per share 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 company had revenue of $2.48 billion during the quarter, compared to analysts' expectations of $2.44 billion. During the same period last year, the company posted $0.75 earnings per share. Campbell's's quarterly revenue was up 4.5% on a year-over-year basis. On average, sell-side 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 announced a quarterly dividend, which will be paid on Monday, August 4th. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.56 annualized dividend and a dividend yield of 5.13%. Campbell's's payout ratio is currently 103.31%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CPB. Morgan Stanley cut their target price on Campbell's from $40.00 to $35.00 and set an "equal weight" rating on the stock in a research report on Tuesday, June 3rd. Bank of America lowered their price target on Campbell's from $37.00 to $33.00 and set an "underperform" rating on the stock in a research report on Tuesday, June 3rd. Piper Sandler cut their price target on shares of Campbell's from $41.00 to $35.00 and set an "overweight" rating on the stock in a research report on Tuesday. Evercore ISI lowered their target price on shares of Campbell's from $46.00 to $41.00 and set an "in-line" rating for the company in a report on Thursday, May 29th. Finally, Royal Bank Of Canada cut their price objective on Campbell's from $44.00 to $38.00 and set a "sector perform" rating for the company in a report on Tuesday, June 3rd. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $39.33.

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.