The Campbell's Company (NASDAQ:CPB) Shares Purchased by QSM Asset Management Ltd

QSM Asset Management Ltd grew its stake in shares of The Campbell's Company (NASDAQ:CPB - Free Report) by 25.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 198,539 shares of the company's stock after buying an additional 40,000 shares during the period. Campbell's accounts for 6.0% of QSM Asset Management Ltd's investment portfolio, making the stock its 8th biggest position. QSM Asset Management Ltd owned approximately 0.07% of Campbell's worth $8,029,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its stake 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 in the last quarter. Diversified Trust Co lifted its stake in shares of Campbell's by 12.4% in the first quarter. Diversified Trust Co now owns 98,482 shares of the company's stock worth $3,931,000 after acquiring an additional 10,896 shares in the last quarter. Creative Financial Designs Inc. ADV lifted its stake in shares of Campbell's by 14.7% in the first quarter. Creative Financial Designs Inc. ADV now owns 4,875 shares of the company's stock worth $195,000 after acquiring an additional 623 shares in the last quarter. Value Partners Investments Inc. acquired a new position in shares of Campbell's in the first quarter worth about $3,597,000. Finally, Golden State Wealth Management LLC lifted its stake in shares of Campbell's by 101.6% in the first quarter. Golden State Wealth Management LLC now owns 3,226 shares of the company's stock worth $129,000 after acquiring an additional 1,626 shares in the last quarter. Hedge funds and other institutional investors own 52.35% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on CPB. Piper Sandler cut their price target on Campbell's from $45.00 to $42.00 and set an "overweight" rating on the stock in a research note on Friday, May 23rd. Argus lowered Campbell's from a "buy" rating to a "hold" rating in a report on Friday, June 20th. Evercore ISI lowered their price objective on Campbell's from $46.00 to $41.00 and set an "in-line" rating for the company in a report on Thursday, May 29th. UBS Group started coverage on Campbell's in a report on Wednesday, April 23rd. They issued a "sell" rating and a $36.00 price objective for the company. Finally, Morgan Stanley lowered their price objective on Campbell's from $40.00 to $35.00 and set an "equal weight" rating for the company in a report on Tuesday, June 3rd. Five research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $40.11.

Campbell's Stock Performance

Shares of NASDAQ:CPB traded down $0.17 during trading on Friday, hitting $30.79. 5,145,114 shares of the company traded hands, compared to its average volume of 3,047,414. The stock has a market capitalization of $9.18 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 8.99 and a beta of 0.11. The business's fifty day moving average is $34.37 and its 200-day moving average is $37.69. The Campbell's Company has a one year low of $30.61 and a one year high of $52.81. The company has a quick ratio of 0.33, a current ratio of 0.78 and a debt-to-equity ratio of 1.57.

Campbell's (NASDAQ:CPB - Get Free Report) last issued its quarterly earnings data 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. Campbell's had a return on equity of 23.22% and a net margin of 4.44%. The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same period in the prior year, the company posted $0.75 EPS. The business's revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, equities analysts predict that The Campbell's Company will post 3.15 earnings per share for the current fiscal year.

Campbell's Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 4th. Investors of record on Thursday, July 3rd will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 5.07%. The ex-dividend date is Thursday, July 3rd. Campbell's's dividend payout ratio (DPR) is 103.31%.

Insider Buying and Selling

In other Campbell's news, EVP Charles A. Brawley III sold 2,498 shares of the company's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $40.03, for a total value of $99,994.94. Following the completion of the sale, the executive vice president now directly owns 37,590 shares in the company, valued at $1,504,727.70. This represents a 6.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 20.19% of the company's stock.

Campbell's 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.