Prudential PLC Reduces Stock Holdings in The Campbell's Company (NASDAQ:CPB)

Key Points

• Prudential PLC significantly reduced its holdings in The Campbell's Company by 87.4%, selling 52,649 shares and now owning only 7,574 shares, valued at $302,000.
• Despite Prudential's decrease, other investors such as Resona Asset Management Co. Ltd. and Nuveen LLC increased their stakes, indicating ongoing interest from institutional investors in Campbell's stock.
• Campbell's recently reported earnings of $0.73 per share, surpassing expectations, and analysts maintain a mixed outlook with a consensus rating of "Hold" and an average target price of $39.06.

Prudential PLC reduced its position in The Campbell's Company (NASDAQ:CPB - Free Report) by 87.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,574 shares of the company's stock after selling 52,649 shares during the quarter. Prudential PLC's holdings in Campbell's were worth $302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of CPB. Resona Asset Management Co. Ltd. raised its position in shares of Campbell's by 6.3% in the first quarter. Resona Asset Management Co. Ltd. now owns 96,858 shares of the company's stock valued at $3,865,000 after purchasing an additional 5,743 shares during the period. Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new stake in Campbell's during the 1st quarter valued at $427,000. Public Sector Pension Investment Board raised its holdings in Campbell's by 8.1% during the 1st quarter. Public Sector Pension Investment Board now owns 26,922 shares of the company's stock valued at $1,075,000 after acquiring an additional 2,006 shares during the period. CCM Investment Group LLC purchased a new stake in shares of Campbell's during the first quarter worth $338,000. Finally, Nuveen LLC bought a new position in shares of Campbell's in the first quarter worth $65,588,000. 52.35% of the stock is owned by hedge funds and other institutional investors.

Campbell's Stock Up 0.3%

Shares of NASDAQ CPB opened at $32.51 on Friday. The stock has a market capitalization of $9.69 billion, a P/E ratio of 21.53, a PEG ratio of 10.16 and a beta of 0.08. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.78 and a quick ratio of 0.33. The Campbell's Company has a one year low of $29.39 and a one year high of $52.81. The firm's 50 day simple moving average is $31.95 and its two-hundred day simple moving average is $35.58.

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 for the quarter, topping 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 during the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the previous year, the firm posted $0.75 earnings per share. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. As a group, analysts expect that The Campbell's Company will post 3.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CPB has been the topic of a number of recent research reports. Barclays dropped their price objective on Campbell's from $35.00 to $30.00 and set an "underweight" rating on the stock in a report on Monday, July 14th. DA Davidson lowered their price target on shares of Campbell's from $39.00 to $34.00 and set a "neutral" rating on the stock in a report on Monday, June 9th. Evercore ISI reduced their price objective on shares of Campbell's from $46.00 to $41.00 and set an "in-line" rating for the company in a research note on Thursday, May 29th. Jefferies Financial Group lowered their target price on shares of Campbell's from $40.00 to $37.00 and set a "buy" rating on the stock in a research note on Wednesday, May 21st. Finally, Citigroup cut their price target on shares of Campbell's from $33.00 to $32.00 and set a "sell" rating for the company in a report on Tuesday, June 3rd. Five research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $39.06.

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.

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