Korea Investment CORP Sells 66,019 Shares of The Campbell's Company $CPB

Key Points

• Korea Investment CORP reduced its holdings in The Campbell's Company by 41.8%, selling 66,019 shares and now owning 91,931 shares valued at approximately $3.67 million.
• The Campbell's Company reported earnings of $0.73 per share, exceeding estimates by $0.08, with revenue of $2.48 billion for the quarter, up 4.5% compared to the prior year.
• Analyst ratings vary, with three analysts rating it as a Buy while a majority rated it as Hold or Sell, reflecting a mixed outlook for investors.

Korea Investment CORP lowered its stake in The Campbell's Company (NASDAQ:CPB - Free Report) by 41.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,931 shares of the company's stock after selling 66,019 shares during the period. Korea Investment CORP's holdings in Campbell's were worth $3,670,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Manchester Capital Management LLC boosted its position in Campbell's by 923.2% in the first quarter. Manchester Capital Management LLC now owns 706 shares of the company's stock valued at $28,000 after buying an additional 637 shares in the last quarter. NBC Securities Inc. acquired a new stake in Campbell's in the first quarter valued at approximately $31,000. Riverview Trust Co acquired a new stake in Campbell's in the first quarter valued at approximately $46,000. Banque Cantonale Vaudoise bought a new position in shares of Campbell's during the first quarter valued at $47,000. Finally, Curat Global LLC bought a new position in shares of Campbell's during the first quarter valued at $58,000. Institutional investors and hedge funds own 52.35% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Royal Bank Of Canada dropped their price target on shares of Campbell's from $44.00 to $38.00 and set a "sector perform" rating for the company in a research note on Tuesday, June 3rd. Stifel Nicolaus dropped their price target on shares of Campbell's from $38.00 to $34.00 and set a "hold" rating for the company in a research note on Tuesday, July 29th. UBS Group dropped their price target on shares of Campbell's from $33.00 to $30.00 and set a "sell" rating for the company in a research note on Friday. DA Davidson dropped their price target on shares of Campbell's from $39.00 to $34.00 and set a "neutral" rating for the company in a research note on Monday, June 9th. Finally, Citigroup dropped their price target on shares of Campbell's from $33.00 to $32.00 and set a "sell" rating for the company in a research note on Tuesday, June 3rd. Three analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Reduce" and an average target price of $38.11.

Campbell's Stock Up 0.9%

CPB traded up $0.29 during midday trading on Friday, hitting $31.93. The company had a trading volume of 5,908,823 shares, compared to its average volume of 5,751,587. The Campbell's Company has a 52 week low of $29.39 and a 52 week 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. The company has a market capitalization of $9.52 billion, a price-to-earnings ratio of 21.15, a PEG ratio of 10.31 and a beta of 0.08. The stock's 50 day moving average price is $31.87 and its 200 day moving average price is $35.21.

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, beating analysts' consensus estimates of $0.65 by $0.08. The firm 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%. The business's revenue was up 4.5% on a year-over-year basis. During the same period last year, the company earned $0.75 earnings per share. Campbell's has set its FY 2025 guidance at 2.950-2.950 EPS. On average, research analysts anticipate that The Campbell's Company will post 3.15 earnings per share for the current fiscal year.

About Campbell's

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.