Value Partners Investments Inc. Buys New Position in The Campbell's Company (NASDAQ:CPB)

Value Partners Investments Inc. bought a new stake in The Campbell's Company (NASDAQ:CPB - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 90,000 shares of the company's stock, valued at approximately $3,597,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Principal Securities Inc. raised its position in Campbell's by 45.5% in the fourth quarter. Principal Securities Inc. now owns 927 shares of the company's stock valued at $39,000 after purchasing an additional 290 shares during the period. SPC Financial Inc. raised its position in Campbell's by 2.3% in the fourth quarter. SPC Financial Inc. now owns 13,575 shares of the company's stock valued at $569,000 after purchasing an additional 300 shares during the period. DoubleLine ETF Adviser LP raised its holdings in shares of Campbell's by 2.8% in the 4th quarter. DoubleLine ETF Adviser LP now owns 11,640 shares of the company's stock valued at $487,000 after buying an additional 312 shares during the period. Koss Olinger Consulting LLC raised its holdings in shares of Campbell's by 0.7% in the 4th quarter. Koss Olinger Consulting LLC now owns 52,411 shares of the company's stock valued at $2,195,000 after buying an additional 380 shares during the period. Finally, Horizon Investments LLC raised its holdings in shares of Campbell's by 18.2% in the 4th quarter. Horizon Investments LLC now owns 3,160 shares of the company's stock valued at $131,000 after buying an additional 487 shares during the period. Hedge funds and other institutional investors own 52.35% of the company's stock.

Analysts Set New Price Targets

CPB has been the topic of several research analyst reports. Citigroup cut their price objective on Campbell's from $33.00 to $32.00 and set a "sell" rating on the stock in a report on Tuesday, June 3rd. Piper Sandler cut their price objective on Campbell's from $45.00 to $42.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. JPMorgan Chase & Co. downgraded Campbell's from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $48.00 to $37.00 in a report on Thursday, March 6th. Stifel Nicolaus cut their price objective on Campbell's from $40.00 to $38.00 and set a "hold" rating on the stock in a report on Tuesday, June 3rd. Finally, DA Davidson cut their price objective on Campbell's from $39.00 to $34.00 and set a "neutral" rating on the stock in a report on Monday, June 9th. Five 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 MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $40.11.

Campbell's Stock Down 0.5%

NASDAQ CPB traded down $0.17 during trading hours on Friday, hitting $30.79. 5,145,114 shares of the company were exchanged, compared to its average volume of 3,047,414. The company has a 50 day moving average of $34.37 and a two-hundred day moving average of $37.65. The company has a quick ratio of 0.33, a current ratio of 0.78 and a debt-to-equity ratio of 1.57. The Campbell's Company has a 52-week low of $30.61 and a 52-week high of $52.81. The firm has a market cap of $9.18 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 8.99 and a beta of 0.11.

Campbell's (NASDAQ:CPB - Get Free Report) last released its quarterly earnings data on Monday, June 2nd. The company reported $0.73 EPS for the quarter, beating 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 business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the prior year, the business posted $0.75 EPS. The business's revenue for the quarter was up 4.5% on a year-over-year basis. Equities research analysts anticipate that The Campbell's Company will post 3.15 earnings per share for the current year.

Campbell's Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Thursday, July 3rd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 5.07%. Campbell's's payout ratio is currently 103.31%.

Insider Activity

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

Campbell's 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.