Campbell's (NASDAQ:CPB) Reaches New 52-Week Low - Here's What Happened

Shares of The Campbell's Company (NASDAQ:CPB - Get Free Report) hit a new 52-week low during trading on Thursday . The company traded as low as $32.83 and last traded at $32.93, with a volume of 384951 shares. The stock had previously closed at $33.40.

Analysts Set New Price Targets

A number of brokerages have commented on CPB. BNP Paribas upgraded shares of Campbell's to a "strong sell" rating in a report on Wednesday, February 26th. Morgan Stanley cut their price objective on shares of Campbell's from $40.00 to $35.00 and set an "equal weight" rating on the stock in a report on Tuesday, June 3rd. JPMorgan Chase & Co. lowered shares of Campbell's from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $48.00 to $37.00 in a report on Thursday, March 6th. Wells Fargo & Company cut their price objective on shares of Campbell's from $40.00 to $34.00 and set an "equal weight" rating on the stock in a report on Friday, May 30th. Finally, Evercore ISI cut their price objective on shares of Campbell's from $46.00 to $41.00 and set an "in-line" rating on the stock in a report on Thursday, May 29th. Five 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's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $40.11.

Campbell's Trading Down 1.6%

The company has a current ratio of 0.91, a quick ratio of 0.50 and a debt-to-equity ratio of 1.74. The business's 50-day moving average is $35.59 and its two-hundred day moving average is $38.50. The firm has a market cap of $9.78 billion, a P/E ratio of 17.92, a P/E/G ratio of 2.71 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. Campbell's had a net margin of 5.57% and a return on equity of 23.79%. The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the prior year, the firm earned $0.75 EPS. The company's revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, analysts expect that The Campbell's Company will post 3.15 earnings per share for the current fiscal year.

Campbell's Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 4th. Investors of record on Thursday, July 3rd will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date is Thursday, July 3rd. Campbell's's dividend payout ratio is presently 103.31%.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Manchester Capital Management LLC grew its position in Campbell's by 923.2% in the 1st quarter. Manchester Capital Management LLC now owns 706 shares of the company's stock worth $28,000 after purchasing an additional 637 shares during the last quarter. NBC Securities Inc. acquired a new stake in shares of Campbell's in the 1st quarter worth approximately $31,000. Sherman Asset Management Inc. acquired a new stake in shares of Campbell's in the 4th quarter worth approximately $36,000. Principal Securities Inc. lifted its stake in shares of Campbell's by 45.5% in the 4th quarter. Principal Securities Inc. now owns 927 shares of the company's stock worth $39,000 after acquiring an additional 290 shares during the period. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Campbell's by 333.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 975 shares of the company's stock worth $39,000 after acquiring an additional 750 shares during the period. Institutional investors own 52.35% of the company's stock.

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.