USS Investment Management Ltd Sells 39,904 Shares of The Campbell's Company (NASDAQ:CPB)

USS Investment Management Ltd cut its stake in The Campbell's Company (NASDAQ:CPB - Free Report) by 29.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 95,203 shares of the company's stock after selling 39,904 shares during the quarter. USS Investment Management Ltd's holdings in Campbell's were worth $3,988,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of CPB. Two Sigma Advisers LP increased its stake in shares of Campbell's by 272.7% in the fourth quarter. Two Sigma Advisers LP now owns 2,243,300 shares of the company's stock worth $93,949,000 after acquiring an additional 1,641,400 shares during the last quarter. Man Group plc increased its stake in shares of Campbell's by 1,296.1% in the fourth quarter. Man Group plc now owns 1,407,161 shares of the company's stock worth $58,932,000 after acquiring an additional 1,306,372 shares during the last quarter. Invesco Ltd. increased its stake in shares of Campbell's by 38.2% in the fourth quarter. Invesco Ltd. now owns 4,645,548 shares of the company's stock worth $194,556,000 after acquiring an additional 1,282,957 shares during the last quarter. Norges Bank acquired a new position in shares of Campbell's in the fourth quarter worth $50,908,000. Finally, Raiffeisen Bank International AG acquired a new position in shares of Campbell's in the fourth quarter worth $48,468,000. 52.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CPB shares. Wells Fargo & Company dropped their price target on shares of Campbell's from $43.00 to $40.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 6th. UBS Group assumed coverage on Campbell's in a report on Wednesday, April 23rd. They set a "sell" rating and a $36.00 target price on the stock. Citigroup cut their target price on Campbell's from $37.00 to $33.00 and set a "sell" rating on the stock in a report on Monday, May 19th. BNP Paribas upgraded Campbell's to a "strong sell" rating in a report on Wednesday, February 26th. Finally, Piper Sandler cut their target price on Campbell's from $45.00 to $42.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, Campbell's currently has a consensus rating of "Hold" and a consensus target price of $42.80.

Campbell's Stock Performance

Shares of NASDAQ:CPB traded down $0.29 during midday trading on Wednesday, hitting $34.05. The company's stock had a trading volume of 681,497 shares, compared to its average volume of 2,841,724. The stock has a market capitalization of $10.15 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 2.71 and a beta of 0.14. The stock's 50 day simple moving average is $36.87 and its 200 day simple moving average is $39.52. The Campbell's Company has a fifty-two week low of $32.95 and a fifty-two week high of $52.81. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.50 and a current ratio of 0.91.

Campbell's (NASDAQ:CPB - Get Free Report) last released its earnings results on Wednesday, March 5th. The company reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.01. Campbell's had a return on equity of 23.79% and a net margin of 5.57%. The business had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.74 billion. Campbell's's revenue for the quarter was up 9.3% on a year-over-year basis. As a group, research analysts anticipate that The Campbell's Company will post 3.15 earnings per share for the current year.

Campbell's Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 4th. Investors of record on Thursday, July 3rd will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date of this dividend is Thursday, July 3rd. Campbell's's dividend payout ratio (DPR) is presently 90.17%.

Insider Buying and Selling

In related news, EVP Charles A. Brawley III sold 2,498 shares of Campbell's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $40.03, for a total transaction of $99,994.94. Following the sale, the executive vice president now directly owns 37,590 shares of the company's stock, valued at $1,504,727.70. This trade represents a 6.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 20.19% of the stock is owned by company insiders.

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.