Bank of New York Mellon Corp Decreases Stock Holdings in The Campbell's Company (NASDAQ:CPB)

Bank of New York Mellon Corp trimmed its holdings in shares of The Campbell's Company (NASDAQ:CPB - Free Report) by 13.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,656,941 shares of the company's stock after selling 581,051 shares during the period. Bank of New York Mellon Corp owned approximately 1.23% of Campbell's worth $145,985,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Campbell's by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 23,625,605 shares of the company's stock valued at $989,440,000 after acquiring an additional 447,203 shares during the period. Beutel Goodman & Co Ltd. boosted its position in shares of Campbell's by 0.5% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 6,925,365 shares of the company's stock valued at $290,034,000 after buying an additional 35,160 shares during the period. Geode Capital Management LLC boosted its position in shares of Campbell's by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 5,323,332 shares of the company's stock valued at $222,420,000 after buying an additional 57,717 shares during the period. Brandywine Trust Co. boosted its holdings in shares of Campbell's by 1.8% in the fourth quarter. Brandywine Trust Co. now owns 4,867,984 shares of the company's stock valued at $203,871,000 after purchasing an additional 84,778 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Campbell's by 38.2% in the fourth quarter. Invesco Ltd. now owns 4,645,548 shares of the company's stock valued at $194,556,000 after purchasing an additional 1,282,957 shares during the period. 52.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CPB shares. Deutsche Bank Aktiengesellschaft lowered their target price on Campbell's from $43.00 to $39.00 and set a "hold" rating for the company in a report on Wednesday, May 21st. Argus downgraded Campbell's from a "buy" rating to a "hold" rating in a research report on Friday, June 20th. Evercore ISI cut their price target on Campbell's from $46.00 to $41.00 and set an "in-line" rating on the stock in a research report on Thursday, May 29th. Piper Sandler cut their price target on Campbell's from $45.00 to $42.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Finally, Consumer Edge reissued an "equal weight" rating on shares of Campbell's in a research note on Monday, March 17th. Five analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $40.00.

Campbell's Trading Up 2.5%

Campbell's stock traded up $0.75 during trading on Friday, hitting $31.24. The company had a trading volume of 11,178,199 shares, compared to its average volume of 3,211,298. The Campbell's Company has a 1-year low of $29.39 and a 1-year high of $52.81. The company has a current ratio of 0.78, a quick ratio of 0.33 and a debt-to-equity ratio of 1.57. The company's 50 day simple moving average is $33.35 and its 200-day simple moving average is $37.03. The stock has a market cap of $9.31 billion, a price-to-earnings ratio of 20.69, a price-to-earnings-growth ratio of 8.97 and a beta of 0.08.

Campbell's (NASDAQ:CPB - Get Free Report) last posted its earnings results on Monday, June 2nd. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.08. Campbell's had a net margin of 4.44% and a return on equity of 23.22%. The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter last year, the firm earned $0.75 EPS. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. As a group, analysts expect that The Campbell's Company will post 3.15 EPS for the current fiscal 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 given a $0.39 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.56 annualized dividend and a yield of 4.99%. Campbell's's dividend payout ratio is presently 103.31%.

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.