Raiffeisen Bank International AG Decreases Position in The Campbell's Company (NASDAQ:CPB)

Key Points

• Raiffeisen Bank International AG reduced its stake in The Campbell's Company by 2.6% in Q1, now owning over 1.14 million shares valued at approximately $45.3 million.
• Equities analysts have lowered their price targets for Campbell's, with DA Davidson and Bank of America setting targets at $34.00 and $33.00 respectively, reflecting a cautious outlook.
• The company's most recent quarterly earnings report showed earnings per share of $0.73, exceeding estimates and a revenue of $2.48 billion, indicating a year-over-year growth of 4.5%.

Raiffeisen Bank International AG reduced its stake in The Campbell's Company (NASDAQ:CPB - Free Report) by 2.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,140,161 shares of the company's stock after selling 30,000 shares during the period. Raiffeisen Bank International AG owned 0.38% of Campbell's worth $45,287,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CPB. Manchester Capital Management LLC raised its holdings in shares of Campbell's by 923.2% in the 1st quarter. Manchester Capital Management LLC now owns 706 shares of the company's stock worth $28,000 after acquiring an additional 637 shares during the last quarter. NBC Securities Inc. acquired a new stake in shares of Campbell's in the 1st quarter worth about $31,000. Riverview Trust Co purchased a new stake in Campbell's in the 1st quarter valued at about $46,000. Banque Cantonale Vaudoise purchased a new stake in Campbell's in the 1st quarter valued at about $47,000. Finally, Curat Global LLC purchased a new stake in Campbell's in the 1st quarter valued at about $58,000. Institutional investors and hedge funds own 52.35% of the company's stock.

Campbell's Price Performance

Shares of Campbell's stock traded up $0.34 on Tuesday, hitting $32.63. 713,450 shares of the company traded hands, compared to its average volume of 4,103,341. The firm's 50-day simple moving average is $32.26 and its 200 day simple moving average is $35.97. The company has a current ratio of 0.78, a quick ratio of 0.33 and a debt-to-equity ratio of 1.57. The company has a market cap of $9.73 billion, a P/E ratio of 21.60, a P/E/G ratio of 10.05 and a beta of 0.08. The Campbell's Company has a 12-month low of $29.39 and a 12-month high of $52.81.

Campbell's (NASDAQ:CPB - Get Free Report) last posted its quarterly earnings data on Monday, June 2nd. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.08. The firm had revenue of $2.48 billion for 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 quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the company posted $0.75 EPS. Analysts expect that The Campbell's Company will post 3.15 earnings per share for the current fiscal year.

Campbell's Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 4th. Stockholders of record on Thursday, July 3rd were given a dividend of $0.39 per share. The ex-dividend date was Thursday, July 3rd. This represents a $1.56 annualized dividend and a dividend yield of 4.8%. Campbell's's dividend payout ratio (DPR) is 103.31%.

Analyst Ratings Changes

Several research firms have commented on CPB. Bank of America decreased their price objective on shares of Campbell's from $37.00 to $33.00 and set an "underperform" rating for the company in a research note on Tuesday, June 3rd. UBS Group started coverage on shares of Campbell's in a research report on Wednesday, April 23rd. They set a "sell" rating and a $36.00 target price for the company. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Campbell's from $43.00 to $39.00 and set a "hold" rating for the company in a research report on Wednesday, May 21st. Jefferies Financial Group cut their price objective on shares of Campbell's from $40.00 to $37.00 and set a "buy" rating for the company in a report on Wednesday, May 21st. Finally, Wells Fargo & Company cut their price objective on shares of Campbell's from $34.00 to $32.00 and set an "equal weight" rating for the company in a report on Wednesday, July 9th. Five equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $39.11.

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.