Invesco Ltd. Grows Stock Position in The Campbell’s Company (NASDAQ:CPB)

Invesco Ltd. raised its stake in shares of The Campbell’s Company (NASDAQ:CPB) by 6.9% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 4,965,668 shares of the company’s stock after buying an additional 320,120 shares during the period. Invesco Ltd. owned about 1.67% of Campbell’s worth $198,229,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Koss Olinger Consulting LLC raised its stake in shares of Campbell’s by 3.4% during the 1st quarter. Koss Olinger Consulting LLC now owns 54,180 shares of the company’s stock valued at $2,163,000 after buying an additional 1,769 shares during the last quarter. National Bank of Canada FI raised its stake in shares of Campbell’s by 7.2% during the 1st quarter. National Bank of Canada FI now owns 100,904 shares of the company’s stock valued at $4,028,000 after buying an additional 6,739 shares during the last quarter. Citigroup Inc. raised its stake in shares of Campbell’s by 3.1% during the 1st quarter. Citigroup Inc. now owns 391,102 shares of the company’s stock valued at $15,613,000 after buying an additional 11,776 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Campbell’s during the 1st quarter valued at about $1,639,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Campbell’s by 1.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,815,240 shares of the company’s stock valued at $72,464,000 after buying an additional 27,759 shares during the last quarter. Hedge funds and other institutional investors own 52.35% of the company’s stock.

Analyst Ratings Changes

CPB has been the subject of several recent analyst reports. Bank of America cut their price target on Campbell’s from $37.00 to $33.00 and set an “underperform” rating for the company in a research note on Tuesday, June 3rd. Deutsche Bank Aktiengesellschaft cut their price target on Campbell’s from $43.00 to $39.00 and set a “hold” rating for the company in a research note on Wednesday, May 21st. DA Davidson cut their price target on Campbell’s from $39.00 to $34.00 and set a “neutral” rating for the company in a research note on Monday, June 9th. Citigroup cut their price target on Campbell’s from $33.00 to $32.00 and set a “sell” rating for the company in a research note on Tuesday, June 3rd. Finally, Wells Fargo & Company cut their price target on Campbell’s from $34.00 to $32.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 9th. Five research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $39.06.

Campbell’s Trading Up 1.4%

Shares of Campbell’s stock opened at $32.54 on Thursday. The Campbell’s Company has a 1-year low of $29.39 and a 1-year high of $52.81. The stock has a market cap of $9.70 billion, a P/E ratio of 21.55, a P/E/G ratio of 10.03 and a beta of 0.08. The stock’s 50 day simple moving average is $32.03 and its 200-day simple moving average is $35.70. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.78 and a quick ratio of 0.33.

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

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.