Bessemer Group Inc. Cuts Stock Position in The Campbell's Company (NASDAQ:CPB)

Bessemer Group Inc. decreased its stake in The Campbell's Company (NASDAQ:CPB - Free Report) by 82.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,163 shares of the company's stock after selling 100,843 shares during the quarter. Bessemer Group Inc.'s holdings in Campbell's were worth $885,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in Campbell's by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,787,481 shares of the company's stock worth $74,860,000 after acquiring an additional 21,849 shares during the last quarter. TrueMark Investments LLC lifted its stake in shares of Campbell's by 1,178.3% in the 1st quarter. TrueMark Investments LLC now owns 135,042 shares of the company's stock valued at $5,391,000 after purchasing an additional 124,478 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Campbell's in the 1st quarter worth approximately $860,000. Deutsche Bank AG boosted its holdings in shares of Campbell's by 56.9% in the 4th quarter. Deutsche Bank AG now owns 2,662,547 shares of the company's stock worth $111,507,000 after purchasing an additional 966,044 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Campbell's during the 4th quarter valued at approximately $21,312,000. Institutional investors own 52.35% of the company's stock.

Campbell's Stock Down 2.4%

Shares of CPB traded down $0.76 during midday trading on Friday, reaching $31.18. 3,264,142 shares of the stock were exchanged, compared to its average volume of 3,092,318. The company has a market capitalization of $9.30 billion, a P/E ratio of 20.65, a PEG ratio of 9.12 and a beta of 0.08. 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 Campbell's Company has a 52 week low of $30.47 and a 52 week high of $52.81. The company's 50 day moving average is $33.78 and its two-hundred day moving average is $37.33.

Campbell's (NASDAQ:CPB - Get Free Report) last issued its earnings results on Monday, June 2nd. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.08. The company had revenue of $2.48 billion for the quarter, compared to analysts' expectations of $2.44 billion. Campbell's had a net margin of 4.44% and a return on equity of 23.22%. The firm's quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.75 EPS. On average, sell-side 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 disclosed a quarterly dividend, which will be paid on Monday, August 4th. Investors of record on Thursday, July 3rd will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 5.00%. The ex-dividend date is Thursday, July 3rd. Campbell's's payout ratio is 103.31%.

Analyst Ratings Changes

A number of brokerages recently issued reports on CPB. Evercore ISI lowered their price target on Campbell's from $46.00 to $41.00 and set an "in-line" rating for the company in a research report on Thursday, May 29th. Jefferies Financial Group dropped their price target on shares of Campbell's from $40.00 to $37.00 and set a "buy" rating for the company in a research note on Wednesday, May 21st. Bank of America cut their price target on shares of Campbell's from $37.00 to $33.00 and set an "underperform" rating on the stock in a report on Tuesday, June 3rd. Barclays reduced their price objective on shares of Campbell's from $40.00 to $35.00 and set an "underweight" rating on the stock in a research report on Tuesday, June 3rd. Finally, Stifel Nicolaus dropped their target price on Campbell's from $40.00 to $38.00 and set a "hold" rating for the company in a research report on Tuesday, June 3rd. Five investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $40.11.

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.