Hsbc Holdings PLC boosted its stake in shares of The Campbell’s Company (NASDAQ:CPB – Free Report) by 644.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,864,119 shares of the company’s stock after buying an additional 1,613,873 shares during the period. Hsbc Holdings PLC’s holdings in Campbell’s were worth $41,319,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the company. State Street Corp boosted its holdings in shares of Campbell’s by 1.3% in the second quarter. State Street Corp now owns 11,960,359 shares of the company’s stock worth $366,585,000 after buying an additional 149,679 shares during the period. Invesco Ltd. raised its holdings in shares of Campbell’s by 21.6% during the fourth quarter. Invesco Ltd. now owns 9,719,409 shares of the company’s stock valued at $270,880,000 after acquiring an additional 1,723,676 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Campbell’s by 26.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,305,417 shares of the company’s stock valued at $231,477,000 after acquiring an additional 1,758,460 shares in the last quarter. Two Sigma Investments LP lifted its position in shares of Campbell’s by 534.8% in the 3rd quarter. Two Sigma Investments LP now owns 4,937,170 shares of the company’s stock valued at $155,916,000 after acquiring an additional 4,159,398 shares in the last quarter. Finally, UBS Group AG boosted its stake in Campbell’s by 175.7% in the 3rd quarter. UBS Group AG now owns 3,730,947 shares of the company’s stock worth $117,823,000 after purchasing an additional 2,377,488 shares during the period. 52.35% of the stock is owned by hedge funds and other institutional investors.
Campbell’s Stock Up 0.0%
Campbell’s stock opened at $22.09 on Tuesday. The firm has a market cap of $6.59 billion, a PE ratio of 10.94 and a beta of 0.02. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.38 and a current ratio of 0.87. The firm’s 50 day moving average price is $21.59 and its two-hundred day moving average price is $23.40. The Campbell’s Company has a twelve month low of $19.56 and a twelve month high of $34.17.
Campbell’s Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Thursday, July 2nd will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 7.1%. The ex-dividend date is Thursday, July 2nd. Campbell’s’s dividend payout ratio (DPR) is currently 77.23%.
Analyst Upgrades and Downgrades
Several research firms have weighed in on CPB. Barclays lowered their price objective on shares of Campbell’s from $21.00 to $19.00 and set an “underweight” rating on the stock in a research report on Monday, June 8th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Campbell’s in a research report on Tuesday, June 30th. Stephens downgraded Campbell’s from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $28.00 to $21.00 in a report on Monday, June 1st. Bank of America dropped their price target on Campbell’s from $20.00 to $18.00 and set an “underperform” rating on the stock in a research report on Tuesday, June 9th. Finally, Zacks Research downgraded Campbell’s from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 10th. Twelve research analysts have rated the stock with a Hold rating and eight have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $21.88.
Get Our Latest Analysis on Campbell’s
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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