Savoir Faire Capital Management L.P. Cuts Stock Position in The Campbell's Company (NASDAQ:CPB)

Savoir Faire Capital Management L.P. reduced its stake in shares of The Campbell's Company (NASDAQ:CPB - Free Report) by 81.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 41,537 shares of the company's stock after selling 186,520 shares during the period. Savoir Faire Capital Management L.P.'s holdings in Campbell's were worth $1,658,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Two Sigma Advisers LP lifted its stake in Campbell's by 272.7% in the fourth quarter. Two Sigma Advisers LP now owns 2,243,300 shares of the company's stock worth $93,949,000 after purchasing an additional 1,641,400 shares during the last quarter. Man Group plc increased its position in shares of Campbell's by 1,296.1% in the fourth quarter. Man Group plc now owns 1,407,161 shares of the company's stock valued at $58,932,000 after acquiring an additional 1,306,372 shares during the period. Invesco Ltd. increased its position in shares of Campbell's by 38.2% in the fourth quarter. Invesco Ltd. now owns 4,645,548 shares of the company's stock valued at $194,556,000 after acquiring an additional 1,282,957 shares during the period. Norges Bank purchased a new position in shares of Campbell's in the fourth quarter valued at about $50,908,000. Finally, Raiffeisen Bank International AG purchased a new position in shares of Campbell's in the fourth quarter valued at about $48,468,000. 52.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CPB shares. Piper Sandler decreased their price objective on shares of Campbell's from $41.00 to $35.00 and set an "overweight" rating on the stock in a research report on Tuesday. DA Davidson reduced their price target on shares of Campbell's from $39.00 to $34.00 and set a "neutral" rating on the stock in a research report on Monday, June 9th. Bank of America reduced their price target on shares of Campbell's from $37.00 to $33.00 and set an "underperform" rating on the stock in a research report on Tuesday, June 3rd. Morgan Stanley reduced their price target on shares of Campbell's from $40.00 to $35.00 and set an "equal weight" rating on the stock in a research report on Tuesday, June 3rd. Finally, Stephens reduced their price target on shares of Campbell's from $48.00 to $43.00 in a research report on Wednesday, May 28th. Five analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $39.33.

Campbell's Price Performance

Shares of NASDAQ CPB traded down $0.32 during midday trading on Friday, reaching $30.98. The stock had a trading volume of 3,352,378 shares, compared to its average volume of 3,280,042. The stock has a 50-day moving average of $32.80 and a 200-day moving average of $36.55. 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 company has a market capitalization of $9.24 billion, a price-to-earnings ratio of 20.52, a price-to-earnings-growth ratio of 9.04 and a beta of 0.08. The Campbell's Company has a 12-month low of $29.39 and a 12-month high of $52.81.

Campbell's (NASDAQ:CPB - Get Free Report) last posted its earnings results on Monday, June 2nd. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.08. The company 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%. Campbell's's quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the company posted $0.75 earnings per share. As a group, research analysts anticipate that The Campbell's Company will post 3.15 EPS for the current fiscal year.

Campbell's Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 4th. Stockholders of record on Thursday, July 3rd will be issued a $0.39 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.56 annualized dividend and a dividend yield of 5.04%. Campbell's's dividend payout ratio (DPR) is presently 103.31%.

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.