SG Americas Securities LLC Takes $860,000 Position in The Campbell’s Company (NASDAQ:CPB)

SG Americas Securities LLC bought a new stake in The Campbell’s Company (NASDAQ:CPB) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 21,551 shares of the company’s stock, valued at approximately $860,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Rhumbline Advisers increased its holdings in shares of Campbell’s by 2.0% in the fourth quarter. Rhumbline Advisers now owns 420,470 shares of the company’s stock valued at $17,609,000 after purchasing an additional 8,257 shares during the last quarter. Principal Securities Inc. increased its holdings in shares of Campbell’s by 45.5% in the fourth quarter. Principal Securities Inc. now owns 927 shares of the company’s stock valued at $39,000 after purchasing an additional 290 shares during the last quarter. Allworth Financial LP increased its holdings in shares of Campbell’s by 1,498.0% in the fourth quarter. Allworth Financial LP now owns 11,186 shares of the company’s stock valued at $428,000 after purchasing an additional 10,486 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Campbell’s by 2.6% in the fourth quarter. CIBC Asset Management Inc now owns 37,426 shares of the company’s stock valued at $1,567,000 after purchasing an additional 939 shares during the last quarter. Finally, Truist Financial Corp increased its stake in Campbell’s by 4.4% during the fourth quarter. Truist Financial Corp now owns 14,634 shares of the company’s stock worth $613,000 after acquiring an additional 615 shares during the last quarter. Hedge funds and other institutional investors own 52.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CPB shares. Barclays cut their target price on Campbell’s from $40.00 to $35.00 and set an “underweight” rating for the company in a research note on Tuesday, June 3rd. Evercore ISI cut their target price on Campbell’s from $46.00 to $41.00 and set an “in-line” rating for the company in a research note on Thursday, May 29th. JPMorgan Chase & Co. cut Campbell’s from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $48.00 to $37.00 in a research note on Thursday, March 6th. Stephens cut their target price on Campbell’s from $48.00 to $43.00 in a research note on Wednesday, May 28th. Finally, Jefferies Financial Group cut their target price on Campbell’s from $40.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday, May 21st. Five analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, Campbell’s has a consensus rating of “Hold” and an average price target of $40.11.

Campbell’s Trading Up 0.1%

NASDAQ:CPB opened at $31.85 on Thursday. The firm has a market cap of $9.50 billion, a PE ratio of 21.09, a price-to-earnings-growth ratio of 9.28 and a beta of 0.11. The stock has a fifty day moving average price of $35.24 and a 200 day moving average price of $38.32. The Campbell’s Company has a 12-month low of $31.58 and a 12-month high of $52.81. The company has a current ratio of 0.78, a quick ratio of 0.33 and a debt-to-equity ratio of 1.57.

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

Campbell’s Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 4th. Investors of record on Thursday, July 3rd will be issued a $0.39 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.56 dividend on an annualized basis and a yield of 4.90%. Campbell’s’s dividend payout ratio (DPR) is presently 103.31%.

Insider Activity at Campbell’s

In other Campbell’s news, EVP Charles A. Brawley III sold 2,498 shares of Campbell’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $40.03, for a total transaction 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 $1,504,727.70. The trade was a 6.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 20.19% of the stock is currently owned by company insiders.

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.