Franklin Resources Inc. Sells 93,033 Shares of The Campbell’s Company $CPB

Franklin Resources Inc. lowered its position in The Campbell’s Company (NASDAQ:CPB) by 65.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,060 shares of the company’s stock after selling 93,033 shares during the quarter. Franklin Resources Inc.’s holdings in Campbell’s were worth $1,534,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Neo Ivy Capital Management acquired a new stake in Campbell’s in the 2nd quarter valued at about $399,000. Entropy Technologies LP bought a new stake in Campbell’s in the second quarter valued at approximately $2,408,000. Magnetar Financial LLC acquired a new stake in shares of Campbell’s in the second quarter valued at approximately $625,000. Swiss National Bank boosted its stake in shares of Campbell’s by 6.8% during the 2nd quarter. Swiss National Bank now owns 583,500 shares of the company’s stock worth $17,884,000 after acquiring an additional 37,000 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Campbell’s during the 2nd quarter worth approximately $971,000. 52.35% of the stock is currently owned by institutional investors and hedge funds.

Campbell’s Price Performance

NASDAQ:CPB opened at $29.36 on Friday. The Campbell’s Company has a 52 week low of $29.15 and a 52 week high of $43.85. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.28 and a current ratio of 0.77. The firm’s 50-day simple moving average is $30.73 and its 200 day simple moving average is $31.97. The firm has a market cap of $8.74 billion, a price-to-earnings ratio of 14.68, a P/E/G ratio of 10.40 and a beta of -0.05.

Campbell’s (NASDAQ:CPB) last announced its earnings results on Wednesday, September 3rd. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.05. Campbell’s had a net margin of 5.87% and a return on equity of 22.95%. The firm had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same quarter in the prior year, the business posted $3.08 EPS. The business’s revenue was up 1.2% compared to the same quarter last year. As a group, sell-side analysts predict that The Campbell’s Company will post 3.15 earnings per share for the current year.

Campbell’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Thursday, January 8th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Thursday, January 8th. This represents a $1.56 annualized dividend and a yield of 5.3%. Campbell’s’s payout ratio is currently 78.00%.

Wall Street Analysts Forecast Growth

CPB has been the subject of a number of research analyst reports. Bank of America lifted their price objective on shares of Campbell’s from $29.00 to $30.00 and gave the stock an “underperform” rating in a research report on Thursday, September 4th. Sanford C. Bernstein raised their target price on shares of Campbell’s from $38.00 to $39.00 and gave the stock an “outperform” rating in a research note on Thursday, September 4th. Morgan Stanley upped their price target on shares of Campbell’s from $32.00 to $33.00 and gave the company an “equal weight” rating in a research note on Friday, September 5th. Weiss Ratings reissued a “hold (c-)” rating on shares of Campbell’s in a report on Wednesday, October 8th. Finally, Piper Sandler restated a “neutral” rating and set a $34.00 price objective (down previously from $35.00) on shares of Campbell’s in a report on Thursday, August 7th. Two research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $34.47.

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.