Envestnet Asset Management Inc. Trims Stock Holdings in The Campbell's Company (NASDAQ:CPB)

Envestnet Asset Management Inc. lowered its stake in The Campbell's Company (NASDAQ:CPB - Free Report) by 14.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 119,000 shares of the company's stock after selling 20,028 shares during the period. Envestnet Asset Management Inc.'s holdings in Campbell's were worth $4,750,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. NBC Securities Inc. bought a new position in shares of Campbell's during the first quarter worth $31,000. Riverview Trust Co bought a new stake in Campbell's in the 1st quarter valued at $46,000. Physician Wealth Advisors Inc. bought a new stake in Campbell's in the 4th quarter valued at $47,000. Curat Global LLC bought a new stake in Campbell's in the 1st quarter valued at $58,000. Finally, Canada Post Corp Registered Pension Plan bought a new stake in Campbell's in the 4th quarter valued at $59,000. Institutional investors and hedge funds own 52.35% of the company's stock.

Campbell's Stock Down 0.3%

Shares of Campbell's stock traded down $0.10 during trading hours on Friday, reaching $32.66. The company's stock had a trading volume of 3,776,965 shares, compared to its average volume of 5,897,068. The Campbell's Company has a one year low of $29.39 and a one year high of $52.81. The company has a market capitalization of $9.74 billion, a P/E ratio of 21.63, a P/E/G ratio of 9.56 and a beta of 0.08. The stock's fifty day simple moving average is $32.58 and its two-hundred day simple moving average is $36.33. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.33 and a current ratio of 0.78.

Campbell's (NASDAQ:CPB - Get Free Report) last released its quarterly earnings results on Monday, June 2nd. The company reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.08. Campbell's had a net margin of 4.44% and a return on equity of 23.22%. The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same period last year, the firm earned $0.75 earnings per share. The firm's revenue was up 4.5% on a year-over-year basis. On average, research analysts forecast that The Campbell's Company will post 3.15 earnings per share for the current year.

Campbell's Dividend Announcement

The business 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. The ex-dividend date is Thursday, July 3rd. This represents a $1.56 dividend on an annualized basis and a yield of 4.78%. Campbell's's dividend payout ratio (DPR) is presently 103.31%.

Wall Street Analysts Forecast Growth

CPB has been the topic of several recent research reports. Stephens lowered their price target on shares of Campbell's from $48.00 to $43.00 in a research note on Wednesday, May 28th. Citigroup lowered their price objective on shares of Campbell's from $33.00 to $32.00 and set a "sell" rating on the stock in a research note on Tuesday, June 3rd. Piper Sandler decreased their price target on shares of Campbell's from $41.00 to $35.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 15th. Argus lowered shares of Campbell's from a "buy" rating to a "hold" rating in a research note on Friday, June 20th. Finally, Jefferies Financial Group cut their price objective on shares of Campbell's from $40.00 to $37.00 and set a "buy" rating for the company in a report on Wednesday, May 21st. Five research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Campbell's has an average rating of "Hold" and a consensus target price of $39.33.

Campbell's 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.