NewEdge Advisors LLC Buys 145,967 Shares of The Campbell's Company $CPB

Key Points

• NewEdge Advisors increased its Campbell’s stake by 139.7%, purchasing 145,967 additional shares to own 250,443 shares valued at approximately $5.6 million. Institutional investors collectively own 52.35% of the company.
• Campbell’s reported quarterly revenue of $2.14 billion and EPS of $0.39, in line with estimates, but revenue declined 7.9% year over year and EPS fell from $0.62.
• The company declared a quarterly dividend of $0.25, equivalent to a 4.7% annualized yield, while analysts maintain a generally cautious view with a consensus “Reduce” rating and a $19.88 price target.

NewEdge Advisors LLC raised its position in shares of The Campbell's Company (NASDAQ:CPB - Free Report) by 139.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 250,443 shares of the company's stock after purchasing an additional 145,967 shares during the quarter. NewEdge Advisors LLC owned approximately 0.08% of Campbell's worth $5,577,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in shares of Campbell's by 23.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 10,239,231 shares of the company's stock valued at $228,026,000 after purchasing an additional 1,933,814 shares during the last quarter. California State Teachers Retirement System raised its stake in Campbell's by 2,093.8% during the second quarter. California State Teachers Retirement System now owns 4,981,665 shares of the company's stock worth $110,942,000 after buying an additional 4,754,582 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Campbell's in the second quarter valued at $79,090,000. First Trust Advisors LP lifted its holdings in Campbell's by 35.0% in the first quarter. First Trust Advisors LP now owns 2,820,793 shares of the company's stock valued at $62,819,000 after buying an additional 731,393 shares during the period. Finally, Lazard Asset Management LLC bought a new stake in Campbell's during the first quarter valued at $61,261,000. Institutional investors own 52.35% of the company's stock.

Campbell's Price Performance

Shares of NASDAQ CPB opened at $21.25 on Tuesday. The firm's 50-day moving average price is $22.53 and its 200-day moving average price is $22.05. The Campbell's Company has a 1-year low of $19.56 and a 1-year high of $34.17. The firm has a market capitalization of $6.34 billion, a P/E ratio of 16.22, a P/E/G ratio of 2.47 and a beta of 0.03. The company has a current ratio of 0.82, a quick ratio of 0.33 and a debt-to-equity ratio of 1.60.

Campbell's (NASDAQ:CPB - Get Free Report) last released its quarterly earnings data on Thursday, September 3rd. The company reported $0.39 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.39. Campbell's had a net margin of 4.04% and a return on equity of 16.44%. The company had revenue of $2.14 billion for the quarter. During the same period last year, the company earned $0.62 EPS. Campbell's's revenue for the quarter was down 7.9% compared to the same quarter last year. Campbell's has set its FY 2027 guidance at 1.650-1.800 EPS. Equities research analysts anticipate that The Campbell's Company will post 1.7 earnings per share for the current fiscal year.

Campbell's Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 1st will be issued a $0.25 dividend. The ex-dividend date is Thursday, October 1st. This represents a $1.00 annualized dividend and a yield of 4.7%. Campbell's's dividend payout ratio is presently 119.08%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CPB. Stifel Nicolaus increased their price target on Campbell's from $20.00 to $22.00 and gave the stock a "hold" rating in a report on Wednesday, July 22nd. UBS Group boosted their price objective on Campbell's from $18.00 to $19.00 and gave the company a "sell" rating in a research note on Friday, September 4th. Wall Street Zen lowered Campbell's from a "hold" rating to a "sell" rating in a research report on Saturday, September 5th. William Blair initiated coverage on Campbell's in a research note on Tuesday, June 23rd. They set a "market perform" rating for the company. Finally, Jefferies Financial Group lowered their target price on Campbell's from $22.00 to $20.00 and set a "hold" rating for the company in a report on Thursday, September 3rd. Twelve research analysts have rated the stock with a Hold rating and seven have assigned a Sell rating to the stock. According to data from MarketBeat.com, Campbell's presently has a consensus rating of "Reduce" and a consensus price target of $19.88.

About Campbell's

Campbell's NASDAQ: CPB is a branded food company that develops, produces and markets packaged meals, beverages and snacks. Its portfolio includes soups, sauces, pasta products, frozen meals, dips, crackers, cookies and yogurt.

The company's brands include Campbell's, Goldfish, Pepperidge Farm, V8, Prego, Pace, Swanson, Rao's, Michael Angelo's and noosa. Products are sold primarily through grocery stores, mass merchants, club stores, convenience stores, food-service distributors and e-commerce channels.

Founded in 1869 by Joseph A.

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