Headlands Technologies LLC Buys Shares of 41,046 The Campbell's Company (NASDAQ:CPB)

Key Points

• Headlands Technologies LLC has acquired a new stake in The Campbell's Company, purchasing 41,046 shares valued at approximately $1,639,000.
• Campbell's reported a quarterly EPS of $0.73, exceeding analyst estimates of $0.65, with revenue of $2.48 billion for the quarter.
• The company recently declared a quarterly dividend of $0.39 per share, with an annualized dividend yield of 4.7% despite a payout ratio of 103.31%.

Headlands Technologies LLC purchased a new position in The Campbell's Company (NASDAQ:CPB - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 41,046 shares of the company's stock, valued at approximately $1,639,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its position in shares of Campbell's by 1.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,815,240 shares of the company's stock worth $72,464,000 after purchasing an additional 27,759 shares in the last quarter. ASR Vermogensbeheer N.V. bought a new stake in shares of Campbell's during the first quarter valued at approximately $1,191,000. Jensen Investment Management Inc. increased its position in shares of Campbell's by 2.4% during the first quarter. Jensen Investment Management Inc. now owns 132,568 shares of the company's stock valued at $5,292,000 after acquiring an additional 3,140 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Campbell's by 2.1% during the first quarter. Vanguard Group Inc. now owns 24,120,172 shares of the company's stock valued at $962,877,000 after acquiring an additional 494,567 shares in the last quarter. Finally, Atria Wealth Solutions Inc. increased its position in shares of Campbell's by 13.1% during the first quarter. Atria Wealth Solutions Inc. now owns 7,487 shares of the company's stock valued at $299,000 after acquiring an additional 866 shares in the last quarter. 52.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CPB has been the subject of a number of research analyst reports. Morgan Stanley cut their target price on shares of Campbell's from $40.00 to $35.00 and set an "equal weight" rating for the company in a research report on Tuesday, June 3rd. UBS Group initiated coverage on shares of Campbell's in a research report on Wednesday, April 23rd. They issued a "sell" rating and a $36.00 target price for the company. Royal Bank Of Canada cut their target price on shares of Campbell's from $44.00 to $38.00 and set a "sector perform" rating for the company in a research report on Tuesday, June 3rd. Evercore ISI cut 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 research report on Thursday, May 29th. Finally, DA Davidson cut their target price on shares of Campbell's from $39.00 to $34.00 and set a "neutral" rating for the company in a research report on Monday, June 9th. Five research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Campbell's presently has a consensus rating of "Hold" and an average target price of $39.06.

Campbell's Stock Up 0.4%

CPB traded up $0.13 during trading on Tuesday, hitting $32.24. The stock had a trading volume of 1,754,670 shares, compared to its average volume of 4,112,340. The company has a market capitalization of $9.61 billion, a PE ratio of 21.34, a PEG ratio of 10.13 and a beta of 0.08. The Campbell's Company has a twelve month low of $29.39 and a twelve month high of $52.81. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.33 and a current ratio of 0.78. The stock has a 50 day simple moving average of $32.11 and a two-hundred day simple moving average of $35.75.

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

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.