The Campbell’s Company (NASDAQ:CPB) Shares Acquired by Goldstone Financial Group LLC

Goldstone Financial Group LLC grew its holdings in The Campbell’s Company (NASDAQ:CPB) by 38.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,322 shares of the company’s stock after buying an additional 3,711 shares during the period. Goldstone Financial Group LLC’s holdings in Campbell’s were worth $532,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Everhart Financial Group Inc. raised its position in shares of Campbell’s by 64.9% in the first quarter. Everhart Financial Group Inc. now owns 13,492 shares of the company’s stock valued at $539,000 after buying an additional 5,312 shares during the last quarter. Fifth Third Bancorp increased its position in Campbell’s by 9.6% during the first quarter. Fifth Third Bancorp now owns 8,000 shares of the company’s stock worth $319,000 after purchasing an additional 701 shares during the last quarter. CX Institutional acquired a new stake in Campbell’s during the first quarter worth about $79,000. Assenagon Asset Management S.A. increased its position in Campbell’s by 5.0% during the first quarter. Assenagon Asset Management S.A. now owns 13,999 shares of the company’s stock worth $559,000 after purchasing an additional 668 shares during the last quarter. Finally, Integrated Advisors Network LLC acquired a new stake in Campbell’s during the first quarter worth about $262,000. 52.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. 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 research report on Friday, May 30th. Citigroup cut their price objective on shares of Campbell’s from $33.00 to $32.00 and set a “sell” rating for the company in a research report on Tuesday, June 3rd. Jefferies Financial Group cut their price objective on shares of Campbell’s from $40.00 to $37.00 and set a “buy” rating for the company in a research report on Wednesday, May 21st. JPMorgan Chase & Co. cut shares of Campbell’s from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $48.00 to $37.00 in a research report on Thursday, March 6th. Finally, Morgan Stanley cut their price objective on shares of Campbell’s from $40.00 to $35.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 3rd. 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $40.11.

Insider Activity

In related news, EVP Charles A. Brawley III sold 2,498 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $40.03, for a total value of $99,994.94. Following the sale, the executive vice president now owns 37,590 shares of the company’s stock, valued at $1,504,727.70. This trade represents a 6.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 20.19% of the company’s stock.

Campbell’s Trading Down 1.6%

NASDAQ CPB opened at $32.79 on Friday. The firm has a 50 day simple moving average of $35.59 and a 200-day simple moving average of $38.61. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.50 and a current ratio of 0.91. The Campbell’s Company has a one year low of $32.73 and a one year high of $52.81. The firm has a market cap of $9.78 billion, a price-to-earnings ratio of 17.92, a PEG ratio of 2.71 and a beta of 0.11.

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

Campbell’s Announces Dividend

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 paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 4.76%. The ex-dividend date of this dividend is Thursday, July 3rd. Campbell’s’s payout ratio is 103.31%.

About Campbell’s

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.