The Campbell’s Company (NASDAQ:CPB) Holdings Lowered by Diligent Investors LLC

Diligent Investors LLC trimmed its stake in shares of The Campbell’s Company (NASDAQ:CPB) by 15.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,154 shares of the company’s stock after selling 4,258 shares during the quarter. Diligent Investors LLC’s holdings in Campbell’s were worth $924,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Hennion & Walsh Asset Management Inc. grew its stake in shares of Campbell’s by 10.2% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 32,059 shares of the company’s stock worth $1,280,000 after purchasing an additional 2,972 shares during the last quarter. NBC Securities Inc. acquired a new position in shares of Campbell’s in the 1st quarter worth approximately $31,000. Czech National Bank lifted its holdings in shares of Campbell’s by 6.0% during the first quarter. Czech National Bank now owns 45,161 shares of the company’s stock valued at $1,803,000 after purchasing an additional 2,571 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Campbell’s by 10.3% during the first quarter. Rhumbline Advisers now owns 463,785 shares of the company’s stock valued at $18,514,000 after purchasing an additional 43,315 shares during the last quarter. Finally, Summit Global Investments purchased a new stake in shares of Campbell’s during the first quarter valued at $3,573,000. 52.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Charles A. Brawley III sold 2,498 shares of Campbell’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $40.03, for a total value of $99,994.94. Following the completion of the sale, the executive vice president now owns 37,590 shares of the company’s stock, valued at approximately $1,504,727.70. This trade represents a 6.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 20.19% of the stock is currently owned by insiders.

Campbell’s Price Performance

Shares of CPB opened at $34.28 on Thursday. The Campbell’s Company has a 12-month low of $32.95 and a 12-month high of $52.81. The business’s fifty day moving average is $36.31 and its 200 day moving average is $39.14. The company has a quick ratio of 0.50, a current ratio of 0.91 and a debt-to-equity ratio of 1.74. The stock has a market cap of $10.22 billion, a P/E ratio of 18.73, a P/E/G ratio of 2.71 and a beta of 0.14.

Campbell’s (NASDAQ:CPB) last released its quarterly earnings results on Monday, June 2nd. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.08. The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.44 billion. Campbell’s had a return on equity of 23.79% and a net margin of 5.57%. Campbell’s’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.75 EPS. Sell-side analysts anticipate that The Campbell’s Company will post 3.15 earnings per share for the current fiscal year.

Campbell’s Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 4th. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 4.55%. The ex-dividend date of this dividend is Thursday, July 3rd. Campbell’s’s dividend payout ratio is presently 90.17%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Royal Bank of Canada dropped their target price on shares of Campbell’s from $44.00 to $38.00 and set a “sector perform” rating on the stock in a research report on Tuesday. Stephens decreased their target price on shares of Campbell’s from $48.00 to $43.00 in a research report on Wednesday, May 28th. Consumer Edge reaffirmed an “equal weight” rating on shares of Campbell’s in a report on Monday, March 17th. DA Davidson decreased their price objective on shares of Campbell’s from $46.00 to $39.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Finally, Wells Fargo & Company cut their target price on shares of Campbell’s from $40.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday, May 30th. Five research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $40.39.

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.