State of New Jersey Common Pension Fund D Cuts Stake in The Campbell's Company $CPB

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in The Campbell's Company by 19.4%, holding 58,110 shares valued at approximately $2.32 million after selling 13,988 shares in the first quarter.
• Campbell's reported a quarterly earnings per share of $0.73, exceeding the consensus estimate by $0.08, while revenue increased 4.5% year-over-year to $2.48 billion.
• Analysts have generally rated Campbell's stock negatively, with three buy ratings, twelve holds, and five sells, leading to an average target price of $38.44.

State of New Jersey Common Pension Fund D lessened its stake in shares of The Campbell's Company (NASDAQ:CPB - Free Report) by 19.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,110 shares of the company's stock after selling 13,988 shares during the period. State of New Jersey Common Pension Fund D's holdings in Campbell's were worth $2,320,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Campbell's by 2.1% in the first quarter. Vanguard Group Inc. now owns 24,120,172 shares of the company's stock worth $962,877,000 after buying an additional 494,567 shares in the last quarter. Invesco Ltd. increased its stake in Campbell's by 6.9% in the 1st quarter. Invesco Ltd. now owns 4,965,668 shares of the company's stock worth $198,229,000 after acquiring an additional 320,120 shares during the last quarter. Brandywine Trust Co. raised its holdings in shares of Campbell's by 1.8% during the 4th quarter. Brandywine Trust Co. now owns 4,867,984 shares of the company's stock worth $203,871,000 after acquiring an additional 84,778 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Campbell's by 15.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,030,627 shares of the company's stock worth $168,790,000 after acquiring an additional 550,210 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in shares of Campbell's by 56.9% during the 4th quarter. Deutsche Bank AG now owns 2,662,547 shares of the company's stock valued at $111,507,000 after acquiring an additional 966,044 shares during the last quarter. Hedge funds and other institutional investors own 52.35% of the company's stock.

Campbell's Trading Up 1.8%

Campbell's stock traded up $0.57 during mid-day trading on Friday, hitting $33.14. The company's stock had a trading volume of 5,113,223 shares, compared to its average volume of 4,945,395. 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 50 day moving average of $31.86 and a 200-day moving average of $35.37. The Campbell's Company has a one year low of $29.39 and a one year high of $52.81. The stock has a market cap of $9.88 billion, a PE ratio of 21.95, a P/E/G ratio of 10.80 and a beta of 0.08.

Campbell's (NASDAQ:CPB - Get Free Report) last released its 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. The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.44 billion. Campbell's had a return on equity of 23.22% and a net margin of 4.44%.The business's revenue for the quarter was up 4.5% compared to the same quarter last year. 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 EPS for the current year.

Analyst Ratings Changes

CPB has been the topic of several research reports. Jefferies Financial Group reduced their price target on shares of Campbell's from $40.00 to $37.00 and set a "buy" rating on the stock in a research report on Wednesday, May 21st. Morgan Stanley cut their target price on Campbell's from $35.00 to $32.00 and set an "equal weight" rating on the stock in a research report on Monday, August 18th. JPMorgan Chase & Co. started coverage on Campbell's in a report on Wednesday. They set a "neutral" rating and a $33.00 price target on the stock. Stifel Nicolaus dropped their price objective 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. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Campbell's from $43.00 to $39.00 and set a "hold" rating on the stock in a research report on Wednesday, May 21st. Three equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and five have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Reduce" and an average price target of $38.44.

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.