The Campbell’s Company $CPB Shares Sold by Panagora Asset Management Inc.

Panagora Asset Management Inc. lowered its position in shares of The Campbell’s Company (NASDAQ:CPB) by 78.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,475 shares of the company’s stock after selling 41,913 shares during the period. Panagora Asset Management Inc.’s holdings in Campbell’s were worth $352,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Federated Hermes Inc. boosted its position in shares of Campbell’s by 955.4% during the 1st quarter. Federated Hermes Inc. now owns 3,641 shares of the company’s stock worth $145,000 after acquiring an additional 3,296 shares in the last quarter. Blair William & Co. IL boosted its holdings in Campbell’s by 1.9% in the first quarter. Blair William & Co. IL now owns 43,260 shares of the company’s stock valued at $1,727,000 after purchasing an additional 787 shares in the last quarter. Atria Wealth Solutions Inc. increased its stake in Campbell’s by 13.1% in the first quarter. Atria Wealth Solutions Inc. now owns 7,487 shares of the company’s stock valued at $299,000 after purchasing an additional 866 shares during the last quarter. Vanguard Group Inc. raised its holdings in Campbell’s by 2.1% during the first quarter. Vanguard Group Inc. now owns 24,120,172 shares of the company’s stock worth $962,877,000 after purchasing an additional 494,567 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. purchased a new stake in shares of Campbell’s during the 1st quarter worth approximately $1,191,000. 52.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on CPB. Zacks Research raised shares of Campbell’s from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Morgan Stanley reduced their target price on Campbell’s from $33.00 to $30.00 and set an “equal weight” rating for the company in a report on Friday. DA Davidson set a $30.00 target price on Campbell’s in a research report on Monday, November 17th. JPMorgan Chase & Co. initiated coverage on Campbell’s in a research report on Wednesday, August 20th. They set a “neutral” rating and a $33.00 price target on the stock. Finally, TD Cowen boosted their price objective on Campbell’s from $29.00 to $31.00 and gave the company a “hold” rating in a research note on Thursday, September 4th. Two research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $34.29.

Campbell’s Stock Up 0.8%

Campbell’s stock opened at $29.60 on Friday. The stock has a 50 day moving average of $30.68 and a two-hundred day moving average of $31.90. The Campbell’s Company has a twelve month low of $29.15 and a twelve month high of $43.85. The stock has a market capitalization of $8.81 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 10.32 and a beta of -0.05. The company has a current ratio of 0.77, a quick ratio of 0.28 and a debt-to-equity ratio of 1.56.

Campbell’s (NASDAQ:CPB) last released its quarterly earnings results on Wednesday, September 3rd. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.57 by $0.05. Campbell’s had a return on equity of 22.95% and a net margin of 5.87%.The business had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same quarter in the prior year, the business earned $3.08 earnings per share. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, research analysts expect that The Campbell’s Company will post 3.15 earnings per share for the current year.

Campbell’s Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Thursday, January 8th will be given a dividend of $0.39 per share. The ex-dividend date is Thursday, January 8th. This represents a $1.56 dividend on an annualized basis and a yield of 5.3%. Campbell’s’s dividend payout ratio is presently 78.00%.

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.