Assenagon Asset Management S.A. Buys 668 Shares of The Campbell’s Company (NASDAQ:CPB)

Assenagon Asset Management S.A. grew its stake in The Campbell’s Company (NASDAQ:CPB) by 5.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,999 shares of the company’s stock after purchasing an additional 668 shares during the period. Assenagon Asset Management S.A.’s holdings in Campbell’s were worth $559,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CPB. Two Sigma Advisers LP lifted its stake in shares of Campbell’s by 272.7% in the 4th quarter. Two Sigma Advisers LP now owns 2,243,300 shares of the company’s stock valued at $93,949,000 after purchasing an additional 1,641,400 shares during the last quarter. Man Group plc lifted its stake in shares of Campbell’s by 1,296.1% in the 4th quarter. Man Group plc now owns 1,407,161 shares of the company’s stock valued at $58,932,000 after purchasing an additional 1,306,372 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Campbell’s by 38.2% in the 4th quarter. Invesco Ltd. now owns 4,645,548 shares of the company’s stock valued at $194,556,000 after purchasing an additional 1,282,957 shares during the last quarter. Norges Bank bought a new stake in shares of Campbell’s in the 4th quarter valued at approximately $50,908,000. Finally, Raiffeisen Bank International AG bought a new stake in shares of Campbell’s in the 4th quarter valued at approximately $48,468,000. 52.35% of the stock is owned by institutional investors.

Insider Transactions at Campbell’s

In related news, EVP Charles A. Brawley III sold 2,498 shares of the business’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $40.03, for a total transaction of $99,994.94. Following the transaction, the executive vice president now directly owns 37,590 shares in the company, 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 through this link. Corporate insiders own 20.19% of the company’s stock.

Campbell’s Trading Up 0.1%

CPB opened at $31.85 on Friday. The company has a market capitalization of $9.50 billion, a P/E ratio of 21.09, a PEG ratio of 9.29 and a beta of 0.11. The company has a quick ratio of 0.33, a current ratio of 0.78 and a debt-to-equity ratio of 1.57. The Campbell’s Company has a 52 week low of $31.58 and a 52 week high of $52.81. The stock’s fifty day moving average is $35.12 and its two-hundred day moving average is $38.22.

Campbell’s (NASDAQ:CPB) last released its quarterly earnings results on Monday, June 2nd. The company reported $0.73 EPS for the quarter, topping the consensus estimate 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%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.75 EPS. Analysts forecast that The Campbell’s Company will post 3.15 earnings per share for the current year.

Campbell’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 4th. Stockholders of record on Thursday, July 3rd will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 4.90%. The ex-dividend date of this dividend is Thursday, July 3rd. Campbell’s’s payout ratio is 103.31%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CPB shares. Evercore ISI lowered their price objective 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. Stifel Nicolaus reduced their price target on Campbell’s from $40.00 to $38.00 and set a “hold” rating on the stock in a report on Tuesday, June 3rd. Royal Bank Of Canada reduced their price target on Campbell’s from $44.00 to $38.00 and set a “sector perform” rating on the stock in a report on Tuesday, June 3rd. Jefferies Financial Group reduced their price target on Campbell’s from $40.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday, May 21st. Finally, Barclays reduced their price target on Campbell’s from $40.00 to $35.00 and set an “underweight” rating on the stock in a report on Tuesday, June 3rd. Five investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $40.11.

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.