The Campbell’s Company (NASDAQ:CPB) Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp lifted its stake in shares of The Campbell’s Company (NASDAQ:CPB) by 9.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,000 shares of the company’s stock after buying an additional 701 shares during the period. Fifth Third Bancorp’s holdings in Campbell’s were worth $319,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in Campbell’s by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 23,625,605 shares of the company’s stock valued at $989,440,000 after purchasing an additional 447,203 shares during the period. Beutel Goodman & Co Ltd. lifted its position in Campbell’s by 0.5% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 6,925,365 shares of the company’s stock valued at $290,034,000 after purchasing an additional 35,160 shares during the period. Geode Capital Management LLC lifted its position in Campbell’s by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 5,323,332 shares of the company’s stock valued at $222,420,000 after purchasing an additional 57,717 shares during the period. Brandywine Trust Co. lifted its position in Campbell’s by 1.8% during the fourth quarter. Brandywine Trust Co. now owns 4,867,984 shares of the company’s stock valued at $203,871,000 after purchasing an additional 84,778 shares during the period. Finally, Invesco Ltd. increased its holdings in Campbell’s by 38.2% in the fourth quarter. Invesco Ltd. now owns 4,645,548 shares of the company’s stock valued at $194,556,000 after buying an additional 1,282,957 shares in the last quarter. 52.35% of the stock is currently owned by institutional investors and hedge funds.

Campbell’s Stock Up 0.1%

CPB stock opened at $31.85 on Thursday. The stock has a market capitalization of $9.50 billion, a P/E ratio of 21.09, a P/E/G ratio of 9.28 and a beta of 0.11. The Campbell’s Company has a 52 week low of $31.58 and a 52 week high of $52.81. The firm has a 50-day simple moving average of $35.24 and a 200-day simple moving average of $38.32. The company has a quick ratio of 0.33, a current ratio of 0.78 and a debt-to-equity ratio of 1.57.

Campbell’s (NASDAQ:CPB) last posted its quarterly earnings results on Monday, June 2nd. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.08. The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.44 billion. Campbell’s had a net margin of 4.44% and a return on equity of 23.22%. Campbell’s’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.75 earnings per share. Equities analysts forecast that The Campbell’s Company will post 3.15 earnings per share for the current fiscal year.

Campbell’s Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Thursday, July 3rd. This represents a $1.56 dividend on an annualized basis and a yield of 4.90%. Campbell’s’s payout ratio is presently 103.31%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Piper Sandler cut their price objective on shares of Campbell’s from $45.00 to $42.00 and set an “overweight” rating for the company in a report on Friday, May 23rd. Wells Fargo & Company cut their price objective on shares of Campbell’s from $40.00 to $34.00 and set an “equal weight” rating for the company in a report on Friday, May 30th. DA Davidson cut their price objective on shares of Campbell’s from $39.00 to $34.00 and set a “neutral” rating for the company in a report on Monday, June 9th. BNP Paribas raised shares of Campbell’s to a “strong sell” rating in a report on Wednesday, February 26th. Finally, Stephens cut their price objective on shares of Campbell’s from $48.00 to $43.00 in a report on Wednesday, May 28th. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $40.11.

Insider Buying and Selling

In other Campbell’s news, EVP Charles A. Brawley III sold 2,498 shares of the business’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $40.03, for a total value of $99,994.94. Following the transaction, the executive vice president now directly owns 37,590 shares in the company, valued at $1,504,727.70. The trade was a 6.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 20.19% of the stock is currently owned by company insiders.

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.