Deutsche Bank AG Reduces Stake in The Campbell's Company (NASDAQ:CPB)

Key Points

• Deutsche Bank AG reduced its stake in The Campbell's Company by 0.8%, retaining approximately 0.89% ownership valued at $105.4 million after selling 22,562 shares in Q1.
• In the most recent quarter, Campbell's reported earnings of $0.73 per share, surpassing expectations, with revenue of $2.48 billion representing a 4.5% year-over-year increase.
• The company declared a quarterly dividend of $0.39 per share, yielding 4.8%, although it currently has a payout ratio of 103.31%.

Deutsche Bank AG lowered its stake in shares of The Campbell's Company (NASDAQ:CPB - Free Report) by 0.8% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 2,639,985 shares of the company's stock after selling 22,562 shares during the period. Deutsche Bank AG owned approximately 0.89% of Campbell's worth $105,388,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Manchester Capital Management LLC increased its position in shares of Campbell's by 923.2% during the first quarter. Manchester Capital Management LLC now owns 706 shares of the company's stock valued at $28,000 after acquiring an additional 637 shares during the last quarter. NBC Securities Inc. bought a new position in Campbell's in the 1st quarter valued at $31,000. Riverview Trust Co purchased a new stake in shares of Campbell's during the 1st quarter valued at $46,000. Banque Cantonale Vaudoise bought a new stake in shares of Campbell's during the 1st quarter worth $47,000. Finally, Curat Global LLC bought a new stake in shares of Campbell's during the 1st quarter worth $58,000. 52.35% of the stock is owned by institutional investors.

Campbell's Trading Down 0.5%

Campbell's stock traded down $0.15 during trading hours on Thursday, reaching $32.39. The company had a trading volume of 1,573,722 shares, compared to its average volume of 4,114,975. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.78 and a quick ratio of 0.33. The Campbell's Company has a 12-month low of $29.39 and a 12-month high of $52.81. The company has a 50-day moving average price of $32.03 and a 200 day moving average price of $35.70. The firm has a market cap of $9.66 billion, a price-to-earnings ratio of 21.45, a P/E/G ratio of 10.03 and a beta of 0.08.

Campbell's (NASDAQ:CPB - Get Free Report) last issued its 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. The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.44 billion. Campbell's had a net margin of 4.44% and a return on equity of 23.22%. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.75 earnings per share. Equities analysts forecast that The Campbell's Company will post 3.15 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CPB shares. Bank of America reduced their price target on shares of Campbell's from $37.00 to $33.00 and set an "underperform" rating for the company in a research report on Tuesday, June 3rd. Piper Sandler reiterated a "neutral" rating and set a $34.00 target price (down previously from $35.00) on shares of Campbell's in a research report on Thursday, August 7th. Argus cut Campbell's from a "buy" rating to a "hold" rating in a report on Friday, June 20th. UBS Group initiated coverage on Campbell's in a report on Wednesday, April 23rd. They set a "sell" rating and a $36.00 target price for the company. Finally, Wells Fargo & Company lowered their price target on shares of Campbell's from $34.00 to $32.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 9th. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Campbell's presently has an average rating of "Hold" and an average target price of $39.06.

Campbell's Company 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.