The Campbell's Company $CPB Holdings Increased by Sterling Capital Management LLC

Key Points

• Sterling Capital Management increased its Campbell’s position by 2,830.6% to 174,840 shares, while institutional investors collectively owned 52.35% of the company.
• Campbell’s shares opened at $20.73, near the lower end of their 52-week range, after quarterly revenue fell 7.9% year over year to $2.14 billion; earnings of $0.39 per share matched estimates.
• The company cut its quarterly dividend to $0.25 per share from $0.39, resulting in a $1.00 annualized payout and a 4.8% yield. Analysts held a consensus “Reduce” rating with an average price target of $19.88.

Sterling Capital Management LLC raised its position in The Campbell's Company (NASDAQ:CPB - Free Report) by 2,830.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 174,840 shares of the company's stock after acquiring an additional 168,874 shares during the period. Sterling Capital Management LLC owned approximately 0.06% of Campbell's worth $3,467,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CPB. Dimensional Fund Advisors LP raised its holdings 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 purchasing an additional 1,933,814 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Campbell's in the 2nd quarter valued at approximately $79,090,000. First Trust Advisors LP boosted its holdings in Campbell's by 35.0% in the 1st quarter. First Trust Advisors LP now owns 2,820,793 shares of the company's stock valued at $62,819,000 after purchasing an additional 731,393 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in Campbell's in the 1st quarter valued at approximately $61,261,000. Finally, Hsbc Holdings PLC increased its position in Campbell's by 644.9% during the 1st quarter. Hsbc Holdings PLC now owns 1,864,119 shares of the company's stock worth $41,319,000 after purchasing an additional 1,613,873 shares during the period. Hedge funds and other institutional investors own 52.35% of the company's stock.

Campbell's Stock Down 2.5%

Shares of NASDAQ CPB opened at $20.73 on Friday. The stock has a market capitalization of $6.18 billion, a price-to-earnings ratio of 15.82, a price-to-earnings-growth ratio of 2.44 and a beta of 0.06. The Campbell's Company has a 52 week low of $18.60 and a 52 week high of $32.04. The firm has a 50-day moving average price of $21.09 and a 200 day moving average price of $21.40. The company has a quick ratio of 0.33, a current ratio of 0.82 and a debt-to-equity ratio of 1.60.

Campbell's (NASDAQ:CPB - Get Free Report) last issued its earnings results on Thursday, September 3rd. The company reported $0.39 earnings per share for the quarter, hitting the consensus estimate 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 quarter in the previous year, the company posted $0.62 earnings per share. The company's quarterly revenue 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 1.70 EPS for the current fiscal year.

Campbell's Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 1st will be issued a dividend of $0.25 per share. This is a drop from Campbell's's previous quarterly dividend of $0.39. This represents a $1.00 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Thursday, October 1st. Campbell's's payout ratio is presently 76.34%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CPB. Evercore set a $21.00 target price on Campbell's in a research note on Monday, September 14th. Wall Street Zen downgraded Campbell's from a "hold" rating to a "sell" rating in a research note on Saturday, September 5th. Zacks Research downgraded Campbell's from a "hold" rating to a "strong sell" rating in a research note on Wednesday, September 9th. DA Davidson reaffirmed a "neutral" rating and set a $20.00 price objective on shares of Campbell's in a report on Tuesday, September 8th. Finally, Stephens set a $20.00 price objective on Campbell's in a research report on Friday, August 28th. Twelve research analysts have rated the stock with a Hold rating and eight have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average price target of $19.88.

About Campbell's

Campbell's, formerly known as Campbell Soup Company, is a food and beverage company headquartered in Camden, New Jersey. Founded in 1869, the company develops, manufactures and markets branded packaged foods sold primarily through grocery stores, mass retailers, club stores, e-commerce channels and food-service outlets.

Its portfolio includes soups, broths, sauces, pasta meals, snacks and other convenient foods. Key brands include Campbell's, Prego, Swanson, Pepperidge Farm, Goldfish, Snyder's of Hanover, Late July, Cape Cod, Kettle Brand, Michael Angelo's and Rao's.

Campbell's serves consumers primarily in the United States and Canada, with products distributed through a broad retail and food-service network.

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