Oppenheimer & Co. Inc. Buys Shares of 6,360 The Campbell’s Company (NASDAQ:CPB)

Oppenheimer & Co. Inc. bought a new stake in The Campbell’s Company (NASDAQ:CPB) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,360 shares of the company’s stock, valued at approximately $254,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Brown Lisle Cummings Inc. lifted its stake in Campbell’s by 7.0% in the first quarter. Brown Lisle Cummings Inc. now owns 24,423 shares of the company’s stock valued at $975,000 after acquiring an additional 1,606 shares during the last quarter. TrueMark Investments LLC grew its holdings in Campbell’s by 1,178.3% during the first quarter. TrueMark Investments LLC now owns 135,042 shares of the company’s stock valued at $5,391,000 after purchasing an additional 124,478 shares during the last quarter. Jmac Enterprises LLC acquired a new position in Campbell’s during the first quarter valued at approximately $262,000. Cambridge Investment Research Advisors Inc. grew its holdings in Campbell’s by 4.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 35,634 shares of the company’s stock valued at $1,423,000 after purchasing an additional 1,532 shares during the last quarter. Finally, Intact Investment Management Inc. acquired a new position in Campbell’s during the first quarter valued at approximately $156,000. 52.35% of the stock is currently owned by institutional investors and hedge funds.

Campbell’s Stock Down 2.4%

Shares of CPB stock opened at $31.18 on Friday. The stock has a market cap of $9.30 billion, a P/E ratio of 20.65, a price-to-earnings-growth ratio of 9.32 and a beta of 0.08. The Campbell’s Company has a one year low of $30.47 and a one year high of $52.81. The stock has a fifty day moving average price of $33.88 and a 200 day moving average price of $37.41. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.78 and a quick ratio of 0.33.

Campbell’s (NASDAQ:CPB) last issued its 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 analysts’ expectations of $2.44 billion. Campbell’s had a return on equity of 23.22% and a net margin of 4.44%. Campbell’s’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the business earned $0.75 earnings per share. Analysts predict that The Campbell’s Company will post 3.15 earnings per share for the current year.

Campbell’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 4th. Investors of record on Thursday, July 3rd will be given a $0.39 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.56 annualized dividend and a yield of 5.00%. Campbell’s’s dividend payout ratio (DPR) is currently 103.31%.

Analyst Ratings Changes

Several equities analysts have commented on the company. Stephens lowered their price target on Campbell’s from $48.00 to $43.00 in a report on Wednesday, May 28th. Citigroup lowered their price target on Campbell’s from $33.00 to $32.00 and set a “sell” rating on the stock in a report on Tuesday, June 3rd. Piper Sandler lowered their price target on Campbell’s from $45.00 to $42.00 and set an “overweight” rating on the stock in a report on Friday, May 23rd. Barclays lowered 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. Finally, JPMorgan Chase & Co. downgraded Campbell’s from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $48.00 to $37.00 in a report on Thursday, March 6th. Five analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $40.11.

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.