Corebridge Financial Inc. Sells 1,307 Shares of The Campbell’s Company $CPB

Corebridge Financial Inc. lowered its position in shares of The Campbell’s Company (NASDAQ:CPB) by 2.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 45,174 shares of the company’s stock after selling 1,307 shares during the period. Corebridge Financial Inc.’s holdings in Campbell’s were worth $1,803,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Manchester Capital Management LLC grew its position in Campbell’s by 923.2% during the 1st quarter. Manchester Capital Management LLC now owns 706 shares of the company’s stock worth $28,000 after acquiring an additional 637 shares during the last quarter. NBC Securities Inc. bought a new stake in Campbell’s during the 1st quarter worth $31,000. Riverview Trust Co bought a new stake in shares of Campbell’s in the 1st quarter valued at about $46,000. Banque Cantonale Vaudoise bought a new stake in shares of Campbell’s in the 1st quarter valued at about $47,000. Finally, Curat Global LLC bought a new stake in shares of Campbell’s in the 1st quarter valued at about $58,000. Institutional investors own 52.35% of the company’s stock.

Campbell’s Stock Down 1.5%

CPB stock opened at $31.46 on Wednesday. The stock’s 50 day simple moving average is $31.85 and its 200 day simple moving average is $35.09. The Campbell’s Company has a fifty-two week low of $29.39 and a fifty-two week high of $52.81. 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 company has a market cap of $9.38 billion, a P/E ratio of 20.83, a price-to-earnings-growth ratio of 10.41 and a beta of 0.05.

Campbell’s (NASDAQ:CPB) last posted its quarterly earnings results on Monday, June 2nd. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $2.44 billion. During the same period in the prior year, the business earned $0.75 EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, research analysts expect that The Campbell’s Company will post 3.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CPB shares. Barclays reduced their price target on Campbell’s from $35.00 to $30.00 and set an “underweight” rating on the stock in a research report on Monday, July 14th. Stifel Nicolaus reduced their price target on Campbell’s from $38.00 to $34.00 and set a “hold” rating on the stock in a research report on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft reduced their price target on Campbell’s from $43.00 to $39.00 and set a “hold” rating on the stock in a research report on Wednesday, May 21st. JPMorgan Chase & Co. started coverage on Campbell’s in a research report on Wednesday, August 20th. They issued a “neutral” rating and a $33.00 price target on the stock. Finally, 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 research report on Wednesday, May 21st. Three equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company 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.