Tobam Sells 1,411 Shares of The Campbell’s Company (NASDAQ:CPB)

Tobam lessened its position in shares of The Campbell’s Company (NASDAQ:CPB) by 1.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 106,218 shares of the company’s stock after selling 1,411 shares during the period. Campbell’s makes up about 1.8% of Tobam’s holdings, making the stock its 14th biggest position. Tobam’s holdings in Campbell’s were worth $4,240,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Fifth Third Bancorp increased its holdings in Campbell’s by 9.6% during the 1st quarter. Fifth Third Bancorp now owns 8,000 shares of the company’s stock worth $319,000 after acquiring an additional 701 shares during the period. CX Institutional bought a new stake in Campbell’s during the 1st quarter worth approximately $79,000. Assenagon Asset Management S.A. increased its holdings in Campbell’s by 5.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 13,999 shares of the company’s stock worth $559,000 after acquiring an additional 668 shares during the period. Integrated Advisors Network LLC bought a new stake in Campbell’s during the 1st quarter worth approximately $262,000. Finally, SG Americas Securities LLC bought a new position in shares of Campbell’s in the 1st quarter worth $860,000. Institutional investors own 52.35% of the company’s stock.

Insider Transactions at Campbell’s

In other news, EVP Charles A. Brawley III sold 2,498 shares of the firm’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 completion of the sale, the executive vice president now directly owns 37,590 shares of the company’s stock, valued at approximately $1,504,727.70. This trade represents a 6.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 20.19% of the company’s stock.

Campbell’s Trading Down 0.2%

Shares of CPB opened at $33.32 on Friday. The stock has a market capitalization of $9.93 billion, a P/E ratio of 18.21, a PEG ratio of 2.71 and a beta of 0.11. The company has a quick ratio of 0.50, a current ratio of 0.91 and a debt-to-equity ratio of 1.74. The firm has a fifty day simple moving average of $35.67 and a two-hundred day simple moving average of $38.70. The Campbell’s Company has a twelve month low of $32.83 and a twelve month high of $52.81.

Campbell’s (NASDAQ:CPB) last announced its quarterly earnings results on Monday, June 2nd. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.08. The business had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.44 billion. Campbell’s had a net margin of 5.57% and a return on equity of 23.79%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.75 EPS. On average, research analysts anticipate that The Campbell’s Company will post 3.15 EPS for the current year.

Campbell’s Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 4th. Stockholders of record on Thursday, July 3rd will be given a $0.39 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.56 annualized dividend and a dividend yield of 4.68%. Campbell’s’s dividend payout ratio is 103.31%.

Analyst Upgrades and Downgrades

CPB has been the topic of a number of research analyst reports. Stephens decreased their price target on shares of Campbell’s from $48.00 to $43.00 in a report on Wednesday, May 28th. Royal Bank of Canada decreased their price target on shares of Campbell’s from $44.00 to $38.00 and set a “sector perform” rating on the stock in a report on Tuesday, June 3rd. UBS Group initiated coverage on shares of Campbell’s in a report on Wednesday, April 23rd. They issued a “sell” rating and a $36.00 price target on the stock. Jefferies Financial Group decreased their price target on shares of Campbell’s from $40.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday, May 21st. Finally, Piper Sandler decreased their price target on shares of Campbell’s from $45.00 to $42.00 and set an “overweight” rating on the stock in a report on Friday, May 23rd. Five research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Campbell’s has an average rating of “Hold” and an average price target of $40.11.

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.