Bank of New York Mellon Corp Trims Position in The Campbell's Company (NASDAQ:CPB)

Bank of New York Mellon Corp reduced its position 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 Form 13F 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 about 1.23% of Campbell's worth $145,985,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. NBC Securities Inc. bought a new stake in Campbell's in the first quarter valued at approximately $31,000. Riverview Trust Co bought a new position in shares of Campbell's during the 1st quarter worth approximately $46,000. Physician Wealth Advisors Inc. bought a new position in shares of Campbell's during the 4th quarter worth approximately $47,000. Curat Global LLC bought a new position in shares of Campbell's during the 1st quarter worth approximately $58,000. Finally, Canada Post Corp Registered Pension Plan bought a new position in shares of Campbell's during the 4th quarter worth approximately $59,000. 52.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CPB. 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 report on Thursday, May 29th. Jefferies Financial Group cut their price target on Campbell's from $40.00 to $37.00 and set a "buy" rating on the stock in a report on Wednesday, May 21st. Stifel Nicolaus cut their target price on Campbell's from $40.00 to $38.00 and set a "hold" rating on the stock in a report on Tuesday, June 3rd. Barclays cut their target price on Campbell's from $40.00 to $35.00 and set an "underweight" rating on the stock in a report on Tuesday, June 3rd. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Campbell's from $43.00 to $39.00 and set a "hold" rating on the stock in a report on Wednesday, May 21st. Five research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $40.00.

Campbell's Stock Performance

Shares of Campbell's stock traded down $0.25 during trading hours on Thursday, hitting $30.49. 14,567,402 shares of the company's stock traded hands, compared to its average volume of 3,179,430. The company has a fifty day simple moving average of $33.35 and a 200-day simple moving average of $37.03. The Campbell's Company has a 12-month low of $29.43 and a 12-month high of $52.81. The stock has a market capitalization of $9.09 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 8.97 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 announced its quarterly earnings data on Monday, June 2nd. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.08. Campbell's had a return on equity of 23.22% and a net margin of 4.44%. The company had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter last year, the firm posted $0.75 EPS. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. Equities research analysts anticipate that The Campbell's Company will post 3.15 EPS for the current fiscal year.

Campbell's Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 4th. Investors of record on Thursday, July 3rd will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 5.12%. The ex-dividend date of this dividend is Thursday, July 3rd. Campbell's's dividend payout ratio (DPR) is currently 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.