Lazard Asset Management LLC Acquires Shares of 2,750,811 The Campbell's Company $CPB

Key Points

• Lazard Asset Management acquired 2.75 million Campbell’s shares worth approximately $61.3 million, giving it a 0.92% stake. Institutional investors collectively own 52.35% of the company.
• Analyst sentiment remains cautious: Campbell’s has an average “Reduce” rating and a $22 price target, with several firms recently lowering targets and maintaining underperform or sell-equivalent ratings.
• Campbell’s reported quarterly EPS of $0.50, ahead of the $0.48 consensus, but revenue fell 4.4% year over year to $2.37 billion. The company declared a $0.39 quarterly dividend, representing a 7.0% annualized yield.

Lazard Asset Management LLC bought a new position in shares of The Campbell's Company (NASDAQ:CPB - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,750,811 shares of the company's stock, valued at approximately $61,261,000. Lazard Asset Management LLC owned about 0.92% of Campbell's as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CPB. State Street Corp lifted its stake in shares of Campbell's by 1.3% in the second quarter. State Street Corp now owns 11,960,359 shares of the company's stock worth $366,585,000 after buying an additional 149,679 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Campbell's by 23.3% during the first quarter. Dimensional Fund Advisors LP now owns 10,239,231 shares of the company's stock worth $228,026,000 after acquiring an additional 1,933,814 shares during the last quarter. Invesco Ltd. grew its stake in Campbell's by 21.6% during the 4th quarter. Invesco Ltd. now owns 9,719,409 shares of the company's stock valued at $270,880,000 after acquiring an additional 1,723,676 shares in the last quarter. Two Sigma Investments LP grew its stake in Campbell's by 534.8% during the 3rd quarter. Two Sigma Investments LP now owns 4,937,170 shares of the company's stock valued at $155,916,000 after acquiring an additional 4,159,398 shares in the last quarter. Finally, UBS Group AG raised its holdings in Campbell's by 175.7% in the 3rd quarter. UBS Group AG now owns 3,730,947 shares of the company's stock valued at $117,823,000 after acquiring an additional 2,377,488 shares during the last quarter. Hedge funds and other institutional investors own 52.35% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on CPB. UBS Group decreased their target price on shares of Campbell's from $19.00 to $17.00 and set a "sell" rating on the stock in a research note on Tuesday, June 9th. BNP Paribas Exane dropped their price target on Campbell's from $22.00 to $19.00 and set an "underperform" rating for the company in a research report on Thursday, April 9th. Stephens cut Campbell's from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $28.00 to $21.00 in a report on Monday, June 1st. Sanford C. Bernstein reaffirmed an "underperform" rating and issued a $19.00 price target (down from $21.00) on shares of Campbell's in a report on Tuesday, June 9th. Finally, DA Davidson upgraded Campbell's to a "hold" rating in a research report on Monday, July 6th. Twelve equities research analysts have rated the stock with a Hold rating and eight have given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Reduce" and an average target price of $22.00.

Campbell's Price Performance

Campbell's stock opened at $22.37 on Tuesday. The Campbell's Company has a 12-month low of $19.56 and a 12-month high of $34.17. The stock has a market cap of $6.67 billion, a P/E ratio of 11.07 and a beta of 0.02. The company has a 50-day moving average price of $21.76 and a 200 day moving average price of $23.20. The company has a current ratio of 0.87, a quick ratio of 0.38 and a debt-to-equity ratio of 1.53.

Campbell's (NASDAQ:CPB - Get Free Report) last issued its earnings results on Monday, June 8th. The company reported $0.50 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.02. Campbell's had a net margin of 6.12% and a return on equity of 18.04%. The company had revenue of $2.37 billion for the quarter. During the same period last year, the firm earned $0.22 earnings per share. Campbell's's revenue for the quarter was down 4.4% on a year-over-year basis. Campbell's has set its FY 2026 guidance at 2.150-2.250 EPS. Sell-side analysts anticipate that The Campbell's Company will post 2.18 earnings per share for the current year.

Campbell's Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Thursday, July 2nd will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 7.0%. The ex-dividend date of this dividend is Thursday, July 2nd. Campbell's's payout ratio is presently 77.23%.

About Campbell's

Campbell's NASDAQ: CPB is a leading manufacturer of shelf-stable foods and beverages, best known for its iconic soups and broths. Headquartered in Camden, New Jersey, the company offers a diverse portfolio of products designed to meet consumer demand for convenient, affordable meals and snacks. Since its founding in 1869, Campbell's has grown through a combination of organic innovation and strategic acquisitions to expand its presence in the food industry.

The company's brand portfolio includes Campbell's Condensed Soups, V8 juices, Prego pasta sauces, Swanson broths and stocks, Pace salsas and dips, and Pepperidge Farm baked snacks.

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