The Campbell's Company (NASDAQ:CPB) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC grew its holdings in The Campbell's Company (NASDAQ:CPB - Free Report) by 4,153.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 321,915 shares of the company's stock after purchasing an additional 314,347 shares during the period. GAMMA Investing LLC owned approximately 0.11% of Campbell's worth $12,851,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CPB. Principal Securities Inc. lifted its stake in Campbell's by 45.5% during the fourth quarter. Principal Securities Inc. now owns 927 shares of the company's stock worth $39,000 after purchasing an additional 290 shares in the last quarter. SPC Financial Inc. raised its holdings in shares of Campbell's by 2.3% in the 4th quarter. SPC Financial Inc. now owns 13,575 shares of the company's stock valued at $569,000 after buying an additional 300 shares during the period. Ascent Wealth Partners LLC raised its holdings in shares of Campbell's by 1.5% in the 4th quarter. Ascent Wealth Partners LLC now owns 20,176 shares of the company's stock valued at $845,000 after buying an additional 306 shares during the period. DoubleLine ETF Adviser LP lifted its stake in Campbell's by 2.8% during the 4th quarter. DoubleLine ETF Adviser LP now owns 11,640 shares of the company's stock worth $487,000 after acquiring an additional 312 shares in the last quarter. Finally, Spire Wealth Management boosted its holdings in Campbell's by 29.6% during the 4th quarter. Spire Wealth Management now owns 1,406 shares of the company's stock valued at $59,000 after acquiring an additional 321 shares during the period. 52.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Charles A. Brawley III sold 2,498 shares of Campbell's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $40.03, for a total value of $99,994.94. Following the transaction, the executive vice president now directly owns 37,590 shares of the company's stock, valued at $1,504,727.70. The trade was a 6.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 20.19% of the company's stock.

Campbell's Stock Down 0.6%

CPB stock traded down $0.20 during midday trading on Tuesday, reaching $34.07. 7,214,112 shares of the company were exchanged, compared to its average volume of 2,920,098. The company has a market cap of $10.16 billion, a price-to-earnings ratio of 18.62, a price-to-earnings-growth ratio of 2.71 and a beta of 0.11. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.50 and a current ratio of 0.91. The Campbell's Company has a 1-year low of $32.95 and a 1-year high of $52.81. The stock's 50-day simple moving average is $35.87 and its 200 day simple moving average is $38.83.

Campbell's (NASDAQ:CPB - Get Free Report) last announced its quarterly earnings results on Monday, June 2nd. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.65 by $0.08. Campbell's had a net margin of 5.57% and a return on equity of 23.79%. The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same period last year, the business earned $0.75 EPS. Campbell's's revenue for the quarter was up 4.5% compared to the same quarter last year. On average, equities analysts forecast that The Campbell's Company will post 3.15 earnings per share for the current 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. This represents a $1.56 annualized dividend and a dividend yield of 4.58%. The ex-dividend date is Thursday, July 3rd. Campbell's's payout ratio is currently 103.31%.

Analyst Ratings Changes

A number of brokerages have issued reports on CPB. Deutsche Bank Aktiengesellschaft cut their price target on shares of Campbell's from $43.00 to $39.00 and set a "hold" rating on the stock in a research note on Wednesday, May 21st. Stifel Nicolaus lowered their target price on Campbell's from $40.00 to $38.00 and set a "hold" rating for the company in a research note on Tuesday, June 3rd. Bank of America cut their price target on Campbell's from $37.00 to $33.00 and set an "underperform" rating on the stock in a report on Tuesday, June 3rd. Piper Sandler decreased their price objective on Campbell's from $45.00 to $42.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. Finally, Consumer Edge reissued an "equal weight" rating on shares of Campbell's in a research report on Monday, March 17th. Five equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $40.11.

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.