Campbell's (NASDAQ:CPB) Hits New 1-Year Low - Here's What Happened

The Campbell's Company (NASDAQ:CPB - Get Free Report) shares reached a new 52-week low on Wednesday . The stock traded as low as $31.58 and last traded at $32.05, with a volume of 87755 shares changing hands. The stock had previously closed at $31.82.

Analysts Set New Price Targets

A number of research analysts have weighed in on CPB shares. Wells Fargo & Company dropped their target price on shares of Campbell's from $40.00 to $34.00 and set an "equal weight" rating on the stock in a research note on Friday, May 30th. Stifel Nicolaus dropped their price objective on shares of Campbell's from $40.00 to $38.00 and set a "hold" rating on the stock in a report on Tuesday, June 3rd. Consumer Edge restated an "equal weight" rating on shares of Campbell's in a research note on Monday, March 17th. Barclays lowered their target price on shares of 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. lowered Campbell's from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $48.00 to $37.00 in a research note on Thursday, March 6th. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $40.11.

Campbell's Trading Up 0.9%

The stock has a 50 day moving average of $35.37 and a 200 day moving average of $38.36. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.78 and a quick ratio of 0.33. The firm has a market cap of $9.57 billion, a P/E ratio of 21.26, a PEG ratio of 9.41 and a beta of 0.11.

Campbell's (NASDAQ:CPB - Get Free Report) last announced its quarterly earnings data on Monday, June 2nd. The company reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.08. The company had revenue of $2.48 billion for 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 revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the firm posted $0.75 EPS. As a group, equities research analysts predict that The Campbell's Company will post 3.15 EPS for the current year.

Campbell's Dividend Announcement

The firm 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. This represents a $1.56 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date of this dividend is Thursday, July 3rd. Campbell's's payout ratio is presently 103.31%.

Insiders Place Their Bets

In other news, EVP Charles A. Brawley III sold 2,498 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $40.03, for a total value of $99,994.94. Following the transaction, the executive vice president now owns 37,590 shares in the company, valued at approximately $1,504,727.70. This trade represents a 6.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 20.19% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Campbell's

A number of large investors have recently made changes to their positions in CPB. Manchester Capital Management LLC lifted its stake in Campbell's by 923.2% in the first 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 period. NBC Securities Inc. bought a new stake in shares of Campbell's during the 1st quarter valued at about $31,000. Sherman Asset Management Inc. bought a new stake in Campbell's during the 4th quarter valued at approximately $36,000. Principal Securities Inc. grew its stake in Campbell's by 45.5% in the fourth quarter. Principal Securities Inc. now owns 927 shares of the company's stock worth $39,000 after purchasing an additional 290 shares during the period. Finally, Geneos Wealth Management Inc. raised its holdings in Campbell's by 333.3% in the first quarter. Geneos Wealth Management Inc. now owns 975 shares of the company's stock worth $39,000 after purchasing an additional 750 shares in the last quarter. 52.35% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.