Gamco Investors INC. ET AL lessened its stake in The Campbell’s Company (NASDAQ:CPB – Free Report) by 11.8% during the fourth quarter, Holdings Channel reports. The firm owned 643,370 shares of the company’s stock after selling 85,861 shares during the period. Gamco Investors INC. ET AL’s holdings in Campbell’s were worth $17,931,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of CPB. Two Sigma Investments LP lifted its holdings in shares of Campbell’s by 534.8% in the third quarter. Two Sigma Investments LP now owns 4,937,170 shares of the company’s stock valued at $155,916,000 after purchasing an additional 4,159,398 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Campbell’s in the third quarter valued at approximately $77,940,000. Invesco Ltd. lifted its holdings in shares of Campbell’s by 42.6% in the third quarter. Invesco Ltd. now owns 7,995,733 shares of the company’s stock valued at $252,505,000 after purchasing an additional 2,387,575 shares in the last quarter. UBS Group AG lifted its holdings in shares of Campbell’s by 175.7% in the third quarter. UBS Group AG now owns 3,730,947 shares of the company’s stock valued at $117,823,000 after purchasing an additional 2,377,488 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Campbell’s by 287.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,377,390 shares of the company’s stock valued at $75,078,000 after purchasing an additional 1,763,870 shares in the last quarter. Institutional investors own 52.35% of the company’s stock.
Campbell’s Stock Performance
Shares of CPB opened at $20.34 on Tuesday. The firm has a market cap of $6.06 billion, a PE ratio of 11.11 and a beta of 0.01. The stock’s fifty day moving average price is $21.30 and its two-hundred day moving average price is $25.92. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.01 and a quick ratio of 0.51. The Campbell’s Company has a 1 year low of $19.76 and a 1 year high of $36.03.
Campbell’s Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Thursday, July 2nd will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date is Thursday, July 2nd. Campbell’s’s dividend payout ratio is presently 85.25%.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on CPB. Wells Fargo & Company lowered Campbell’s from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $20.00 to $18.00 in a report on Wednesday, April 8th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Campbell’s in a report on Thursday, April 2nd. Morgan Stanley dropped their price target on Campbell’s from $25.00 to $23.00 and set an “equal weight” rating on the stock in a report on Thursday, April 23rd. Zacks Research upgraded Campbell’s from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 12th. Finally, Barclays dropped their price target on Campbell’s from $23.00 to $21.00 and set an “underweight” rating on the stock in a report on Tuesday, April 14th. One analyst has rated the stock with a Buy rating, fourteen have given a Hold rating and seven have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $26.06.
Read Our Latest Stock Analysis on CPB
About Campbell’s
Campbell’s (NASDAQ: CPB) is a leading manufacturer of shelf-stable foods and beverages, best known for its iconic soups and broths. Headquartered in Camden, New Jersey, the company offers a diverse portfolio of products designed to meet consumer demand for convenient, affordable meals and snacks. Since its founding in 1869, Campbell’s has grown through a combination of organic innovation and strategic acquisitions to expand its presence in the food industry.
The company’s brand portfolio includes Campbell’s Condensed Soups, V8 juices, Prego pasta sauces, Swanson broths and stocks, Pace salsas and dips, and Pepperidge Farm baked snacks.
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