DekaBank Deutsche Girozentrale Cuts Stock Holdings in The Campbell’s Company (NASDAQ:CPB)

DekaBank Deutsche Girozentrale trimmed its position in shares of The Campbell’s Company (NASDAQ:CPB) by 6.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 222,338 shares of the company’s stock after selling 15,214 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.07% of Campbell’s worth $8,742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of CPB. NBC Securities Inc. purchased a new position in shares of Campbell’s in the 1st quarter worth about $31,000. Riverview Trust Co purchased a new position in shares of Campbell’s in the 1st quarter worth about $46,000. Physician Wealth Advisors Inc. purchased a new position in shares of Campbell’s in the 4th quarter worth about $47,000. Curat Global LLC purchased a new position in shares of Campbell’s in the 1st quarter worth about $58,000. Finally, Canada Post Corp Registered Pension Plan purchased a new position in shares of Campbell’s in the 4th quarter worth about $59,000. 52.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Barclays cut their price target on shares of Campbell’s from $40.00 to $35.00 and set an “underweight” rating on the stock in a report on Tuesday, June 3rd. Stephens cut their price target on shares of Campbell’s from $48.00 to $43.00 in a report on Wednesday, May 28th. Piper Sandler lowered their price objective on Campbell’s from $45.00 to $42.00 and set an “overweight” rating on the stock in a research note on Friday, May 23rd. Stifel Nicolaus lowered their price objective on Campbell’s from $40.00 to $38.00 and set a “hold” rating on the stock in a research note on Tuesday, June 3rd. Finally, Morgan Stanley lowered their price objective on Campbell’s from $40.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 3rd. Five equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $40.00.

Campbell’s Stock Up 2.5%

CPB stock opened at $31.24 on Friday. 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’s 50 day moving average is $33.26 and its 200 day moving average is $36.96. The stock has a market cap of $9.31 billion, a price-to-earnings ratio of 20.69, a price-to-earnings-growth ratio of 8.90 and a beta of 0.08. The Campbell’s Company has a 1-year low of $29.39 and a 1-year high of $52.81.

Campbell’s (NASDAQ:CPB) last posted its quarterly earnings data on Monday, June 2nd. The company reported $0.73 earnings per share 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 analysts’ expectations of $2.44 billion. Campbell’s had a net margin of 4.44% and a return on equity of 23.22%. Campbell’s’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.75 earnings per share. Sell-side analysts predict that The Campbell’s Company will post 3.15 EPS for the current fiscal year.

Campbell’s Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 4th. Shareholders of record on Thursday, July 3rd will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 4.99%. The ex-dividend date of this dividend is Thursday, July 3rd. Campbell’s’s dividend payout ratio is currently 103.31%.

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.