Summit Global Investments Invests $3.57 Million in The Campbell's Company (NASDAQ:CPB)

Summit Global Investments acquired a new stake in The Campbell's Company (NASDAQ:CPB - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 89,506 shares of the company's stock, valued at approximately $3,573,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sherman Asset Management Inc. bought a new position in Campbell's in the 4th quarter valued at approximately $36,000. Principal Securities Inc. lifted its position in Campbell's by 45.5% in the 4th quarter. Principal Securities Inc. now owns 927 shares of the company's stock valued at $39,000 after acquiring an additional 290 shares in the last quarter. Kentucky Trust Co bought a new position in Campbell's in the 4th quarter valued at approximately $42,000. Quent Capital LLC lifted its position in Campbell's by 77.7% in the 4th quarter. Quent Capital LLC now owns 1,100 shares of the company's stock valued at $46,000 after acquiring an additional 481 shares in the last quarter. Finally, Stonebridge Financial Group LLC bought a new position in Campbell's in the 4th quarter valued at approximately $47,000. 52.35% of the stock is owned by institutional investors.

Insider Buying and Selling at Campbell's

In other 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 sale, the executive vice president now directly owns 37,590 shares of the company's stock, valued at approximately $1,504,727.70. The trade was a 6.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 20.19% of the company's stock.

Campbell's Price Performance

NASDAQ:CPB remained flat at $34.17 on Friday. The company's stock had a trading volume of 6,525,579 shares, compared to its average volume of 2,868,550. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.50 and a current ratio of 0.91. The stock's 50 day moving average is $36.62 and its 200-day moving average is $39.30. The stock has a market capitalization of $10.19 billion, a price-to-earnings ratio of 18.67, a PEG ratio of 2.71 and a beta of 0.14. The Campbell's Company has a twelve month low of $32.95 and a twelve month high of $52.81.

Campbell's (NASDAQ:CPB - Get Free Report) last posted its quarterly earnings results on Wednesday, March 5th. The company reported $0.74 EPS for the quarter, beating analysts' consensus estimates of $0.73 by $0.01. The business had revenue of $2.69 billion for the quarter, compared to analysts' expectations of $2.74 billion. Campbell's had a return on equity of 23.79% and a net margin of 5.57%. The firm's quarterly revenue was up 9.3% on a year-over-year basis. On average, equities analysts anticipate that The Campbell's Company will post 3.15 earnings per share for the current year.

Campbell's Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 4th. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.56 dividend on an annualized basis and a yield of 4.57%. Campbell's's dividend payout ratio is presently 90.17%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CPB shares. DA Davidson dropped their price target on Campbell's from $46.00 to $39.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. UBS Group started coverage on Campbell's in a research note on Wednesday, April 23rd. They issued a "sell" rating and a $36.00 price target on the stock. JPMorgan Chase & Co. downgraded Campbell's from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $48.00 to $37.00 in a research note on Thursday, March 6th. Royal Bank of Canada dropped their price target on Campbell's from $51.00 to $44.00 and set a "sector perform" rating on the stock in a research note on Thursday, March 6th. Finally, BNP Paribas upgraded Campbell's to a "strong sell" rating in a research note on Wednesday, February 26th. Five analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $42.40.

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.