Citigroup Inc. Acquires 11,776 Shares of The Campbell's Company $CPB

Citigroup Inc. raised its stake in shares of The Campbell's Company (NASDAQ:CPB - Free Report) by 3.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 391,102 shares of the company's stock after acquiring an additional 11,776 shares during the quarter. Citigroup Inc. owned approximately 0.13% of Campbell's worth $15,613,000 as of its most recent filing with the SEC.

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

Campbell's Stock Performance

NASDAQ CPB traded down $0.18 on Monday, reaching $32.33. The stock had a trading volume of 1,927,110 shares, compared to its average volume of 4,116,232. 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 firm has a fifty day moving average of $31.95 and a two-hundred day moving average of $35.55. The Campbell's Company has a 1-year low of $29.39 and a 1-year high of $52.81. The company has a market cap of $9.64 billion, a P/E ratio of 21.41, a price-to-earnings-growth ratio of 10.25 and a beta of 0.08.

Campbell's (NASDAQ:CPB - Get Free Report) last posted its quarterly earnings data on Monday, June 2nd. The company reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.08. Campbell's had a return on equity of 23.22% and a net margin of 4.44%. The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter last year, the company earned $0.75 EPS. The company's revenue was up 4.5% on a year-over-year basis. On average, equities research analysts anticipate that The Campbell's Company will post 3.15 EPS for the current year.

Wall Street Analysts Forecast Growth

CPB has been the topic of several recent analyst reports. Jefferies Financial Group cut their price objective on Campbell's from $40.00 to $37.00 and set a "buy" rating on the stock in a report on Wednesday, May 21st. Argus lowered Campbell's from a "buy" rating to a "hold" rating in a research report on Friday, June 20th. Piper Sandler reaffirmed a "neutral" rating and set a $34.00 price target (down previously from $35.00) on shares of Campbell's in a research report on Thursday, August 7th. Bank of America lowered their price target on Campbell's from $37.00 to $33.00 and set an "underperform" rating on the stock in a research report on Tuesday, June 3rd. Finally, UBS Group assumed coverage on Campbell's in a research report on Wednesday, April 23rd. They set a "sell" rating and a $36.00 price target on the stock. Five investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $38.89.

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.