Bank of New York Mellon Corp Sells 581,051 Shares of The Campbell's Company (NASDAQ:CPB)

Bank of New York Mellon Corp trimmed its stake 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 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,656,941 shares of the company's stock after selling 581,051 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.23% of Campbell's worth $145,985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the business. World Investment Advisors purchased a new position in Campbell's during the first quarter valued at $410,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Campbell's by 13.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,865 shares of the company's stock valued at $1,027,000 after purchasing an additional 3,010 shares during the period. KBC Group NV boosted its stake in shares of Campbell's by 182.0% in the first quarter. KBC Group NV now owns 498,216 shares of the company's stock worth $19,889,000 after acquiring an additional 321,520 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of Campbell's by 24.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,366 shares of the company's stock worth $534,000 after buying an additional 2,614 shares in the last quarter. Finally, Value Partners Investments Inc. purchased a new stake in Campbell's during the first quarter valued at approximately $3,597,000. 52.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CPB. Piper Sandler decreased their price target on Campbell's from $45.00 to $42.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. Bank of America reduced their price target on Campbell's from $37.00 to $33.00 and set an "underperform" rating for the company in a report on Tuesday, June 3rd. Stifel Nicolaus cut their price objective on Campbell's from $40.00 to $38.00 and set a "hold" rating for the company in a research note on Tuesday, June 3rd. Deutsche Bank Aktiengesellschaft dropped their price target on Campbell's from $43.00 to $39.00 and set a "hold" rating for the company in a research report on Wednesday, May 21st. Finally, Jefferies Financial Group reduced their price objective on Campbell's from $40.00 to $37.00 and set a "buy" rating on the stock in a research note on Wednesday, May 21st. Five investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Campbell's currently has a consensus rating of "Hold" and an average price target of $40.00.

Campbell's Trading Up 2.5%

CPB stock traded up $0.75 during midday trading on Friday, hitting $31.24. The stock had a trading volume of 11,178,625 shares, compared to its average volume of 3,218,280. The Campbell's Company has a 12-month low of $29.39 and a 12-month high of $52.81. The company's 50-day moving average price is $33.26 and its 200 day moving average price is $36.92. The firm has a market cap of $9.31 billion, a PE ratio of 20.69, a price-to-earnings-growth ratio of 9.12 and a beta of 0.08. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.78 and a quick ratio of 0.33.

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. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.44 billion. Campbell's had a net margin of 4.44% and a return on equity of 23.22%. The business's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.75 EPS. On average, equities research analysts predict 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 declared 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. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.56 annualized dividend and a dividend yield of 4.99%. Campbell's's dividend payout ratio (DPR) 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.