MetLife Investment Management LLC Lowers Position in The Campbell’s Company $CPB

MetLife Investment Management LLC cut its holdings in shares of The Campbell’s Company (NASDAQ:CPB) by 1.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 51,013 shares of the company’s stock after selling 895 shares during the quarter. MetLife Investment Management LLC’s holdings in Campbell’s were worth $2,036,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Norinchukin Bank The grew its holdings in shares of Campbell’s by 14.3% during the 1st quarter. Norinchukin Bank The now owns 9,697 shares of the company’s stock worth $387,000 after purchasing an additional 1,212 shares during the period. Credit Agricole S A lifted its stake in Campbell’s by 5.4% during the 1st quarter. Credit Agricole S A now owns 72,083 shares of the company’s stock worth $2,878,000 after acquiring an additional 3,685 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. lifted its stake in Campbell’s by 150.3% during the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 15,734 shares of the company’s stock worth $632,000 after acquiring an additional 9,449 shares in the last quarter. Quantbot Technologies LP lifted its stake in Campbell’s by 301.1% during the 1st quarter. Quantbot Technologies LP now owns 226,338 shares of the company’s stock worth $9,035,000 after acquiring an additional 169,908 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in Campbell’s by 26.2% during the 1st quarter. Wellington Management Group LLP now owns 48,600 shares of the company’s stock worth $1,940,000 after acquiring an additional 10,083 shares in the last quarter. 52.35% of the stock is currently owned by hedge funds and other institutional investors.

Campbell’s Stock Performance

Shares of CPB opened at $31.46 on Wednesday. The stock has a 50-day simple moving average of $31.85 and a 200-day simple moving average of $35.09. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.33 and a current ratio of 0.78. The stock has a market capitalization of $9.38 billion, a PE ratio of 20.83, a PEG ratio of 10.41 and a beta of 0.05. The Campbell’s Company has a 1 year low of $29.39 and a 1 year high of $52.81.

Campbell’s (NASDAQ:CPB) last announced its quarterly earnings data on Monday, June 2nd. The company reported $0.73 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter last year, the business posted $0.75 EPS. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, analysts predict that The Campbell’s Company will post 3.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Stephens decreased their target price on Campbell’s from $48.00 to $43.00 in a research note on Wednesday, May 28th. Deutsche Bank Aktiengesellschaft decreased their target price on Campbell’s from $43.00 to $39.00 and set a “hold” rating on the stock in a research note on Wednesday, May 21st. Evercore ISI decreased their target price on Campbell’s from $46.00 to $41.00 and set an “in-line” rating on the stock in a research note on Thursday, May 29th. Piper Sandler reissued a “neutral” rating and set a $34.00 target price (down previously from $35.00) on shares of Campbell’s in a research note on Thursday, August 7th. Finally, Jefferies Financial Group decreased their target price on Campbell’s from $40.00 to $37.00 and set a “buy” rating on the stock in a research note on Wednesday, May 21st. Three investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, Campbell’s currently has an average rating of “Reduce” and an average target price of $38.11.

Campbell’s Company 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.