Sumitomo Mitsui Trust Group Inc. Has $22.60 Million Stock Position in The Campbell’s Company (NASDAQ:CPB)

Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of The Campbell’s Company (NASDAQ:CPB) by 9.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 566,031 shares of the company’s stock after buying an additional 46,866 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.19% of Campbell’s worth $22,596,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. NBC Securities Inc. bought a new position in shares of Campbell’s in the first quarter valued at about $31,000. Physician Wealth Advisors Inc. bought a new position in shares of Campbell’s in the fourth quarter valued at about $47,000. Riverview Trust Co bought a new position in shares of Campbell’s in the first quarter valued at about $46,000. NewSquare Capital LLC bought a new position in shares of Campbell’s in the fourth quarter valued at about $51,000. Finally, Canada Post Corp Registered Pension Plan bought a new position in shares of Campbell’s in the fourth quarter valued at about $59,000. Institutional investors and hedge funds own 52.35% of the company’s stock.

Campbell’s Stock Down 2.4%

Shares of NASDAQ:CPB opened at $31.18 on Friday. The stock has a market cap of $9.30 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 9.32 and a beta of 0.08. 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 12-month low of $30.47 and a 12-month high of $52.81. The business’s 50 day moving average is $33.88 and its 200 day moving average is $37.41.

Campbell’s (NASDAQ:CPB) last posted its quarterly earnings data on Monday, June 2nd. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.08. Campbell’s had a return on equity of 23.22% and a net margin of 4.44%. The business had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter in the previous year, the firm earned $0.75 earnings per share. The business’s revenue was up 4.5% on a year-over-year basis. On average, sell-side analysts forecast that The Campbell’s Company will post 3.15 earnings per share for the current fiscal year.

Campbell’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 4th. Investors of record on Thursday, July 3rd will be paid a dividend of $0.39 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 5.00%. Campbell’s’s payout ratio is 103.31%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CPB. Citigroup cut their price target on Campbell’s from $33.00 to $32.00 and set a “sell” rating for the company in a report on Tuesday, June 3rd. Jefferies Financial Group cut their price target on Campbell’s from $40.00 to $37.00 and set a “buy” rating for the company in a report on Wednesday, May 21st. Argus cut Campbell’s from a “buy” rating to a “hold” rating in a report on Friday, June 20th. Evercore ISI dropped their price objective on Campbell’s from $46.00 to $41.00 and set an “in-line” rating for the company in a report on Thursday, May 29th. Finally, Piper Sandler dropped their price objective on Campbell’s from $45.00 to $42.00 and set an “overweight” rating for the company in a report on Friday, May 23rd. Five equities research 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. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target 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.