Ameriprise Financial Inc. Lowers Stock Position in The Campbell's Company (NASDAQ:CPB)

Ameriprise Financial Inc. lessened its stake in The Campbell's Company (NASDAQ:CPB - Free Report) by 27.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 171,107 shares of the company's stock after selling 63,288 shares during the quarter. Ameriprise Financial Inc. owned 0.06% of Campbell's worth $7,166,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Invesco Ltd. raised its holdings in shares of Campbell's by 38.2% during the fourth quarter. Invesco Ltd. now owns 4,645,548 shares of the company's stock valued at $194,556,000 after acquiring an additional 1,282,957 shares during the last quarter. Norges Bank purchased a new stake in shares of Campbell's in the fourth quarter valued at approximately $50,908,000. Cerity Partners LLC grew its position in shares of Campbell's by 294.4% in the fourth quarter. Cerity Partners LLC now owns 837,301 shares of the company's stock valued at $35,115,000 after purchasing an additional 625,010 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Campbell's by 15.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,030,627 shares of the company's stock worth $168,790,000 after acquiring an additional 550,210 shares during the period. Finally, Van ECK Associates Corp grew its position in Campbell's by 6.1% in the fourth quarter. Van ECK Associates Corp now owns 9,247,213 shares of the company's stock worth $387,273,000 after acquiring an additional 531,281 shares during the period. Institutional investors and hedge funds own 52.35% of the company's stock.

Campbell's Stock Up 2.1%

Campbell's stock traded up $0.71 during midday trading on Tuesday, reaching $34.21. The company's stock had a trading volume of 1,857,238 shares, compared to its average volume of 2,841,336. The business has a 50-day simple moving average of $36.94 and a 200-day simple moving average of $39.56. 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 Campbell's Company has a fifty-two week low of $32.95 and a fifty-two week high of $52.81. The company has a market cap of $10.20 billion, a P/E ratio of 18.71, a P/E/G ratio of 2.71 and a beta of 0.14.

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

Campbell's Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date of this dividend is Thursday, July 3rd. Campbell's's dividend payout ratio (DPR) is currently 90.17%.

Insider Transactions at Campbell's

In related news, EVP Charles A. Brawley III sold 2,498 shares of the firm's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $40.03, for a total transaction of $99,994.94. Following the transaction, the executive vice president now owns 37,590 shares of the company's stock, valued at $1,504,727.70. This trade represents a 6.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 20.19% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CPB. Bank of America lowered their price objective on Campbell's from $41.00 to $37.00 and set an "underperform" rating for the company in a research report on Wednesday, May 21st. Consumer Edge reiterated an "equal weight" rating on shares of Campbell's in a research report on Monday, March 17th. Citigroup lowered their price objective on Campbell's from $37.00 to $33.00 and set a "sell" rating for the company in a research report on Monday, May 19th. BNP Paribas upgraded Campbell's to a "strong sell" rating in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company lowered their price target on Campbell's from $43.00 to $40.00 and set an "equal weight" rating for the company in a research report on Thursday, March 6th. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Campbell's has an average rating of "Hold" and a consensus target price of $42.80.

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.