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

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

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DoubleLine ETF Adviser LP increased its position in shares of Campbell's by 2.8% during the fourth quarter. DoubleLine ETF Adviser LP now owns 11,640 shares of the company's stock worth $487,000 after acquiring an additional 312 shares during the period. GAMMA Investing LLC increased its position in shares of Campbell's by 6.6% during the first quarter. GAMMA Investing LLC now owns 8,064 shares of the company's stock worth $322,000 after acquiring an additional 496 shares during the period. Rodgers Brothers Inc. increased its position in shares of Campbell's by 1.8% during the fourth quarter. Rodgers Brothers Inc. now owns 28,000 shares of the company's stock worth $1,173,000 after acquiring an additional 504 shares during the period. Treasurer of the State of North Carolina increased its position in shares of Campbell's by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 84,422 shares of the company's stock worth $3,536,000 after acquiring an additional 530 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its position in shares of Campbell's by 53.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,562 shares of the company's stock worth $62,000 after acquiring an additional 541 shares during the period. 52.35% of the stock is owned by hedge funds and other institutional investors.

Campbell's Stock Performance

Shares of NASDAQ:CPB traded down $0.42 on Monday, hitting $32.24. 4,517,861 shares of the company were exchanged, compared to its average volume of 5,828,563. The Campbell's Company has a 1-year low of $29.39 and a 1-year high of $52.81. The stock's 50 day moving average price is $32.46 and its 200 day moving average price is $36.20. 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 firm has a market capitalization of $9.61 billion, a P/E ratio of 21.35, a price-to-earnings-growth ratio of 9.53 and a beta of 0.08.

Campbell's (NASDAQ:CPB - Get Free Report) last posted its quarterly earnings data on Monday, June 2nd. The company reported $0.73 EPS for the quarter, topping 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 business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the previous year, the firm posted $0.75 earnings per share. The business's revenue for the quarter was up 4.5% compared to the same quarter last year. Sell-side analysts predict that The Campbell's Company will post 3.15 EPS for the current year.

Campbell's Announces Dividend

The firm also recently announced 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 of this dividend is Thursday, July 3rd. This represents a $1.56 annualized dividend and a dividend yield of 4.84%. Campbell's's dividend payout ratio (DPR) is presently 103.31%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. DA Davidson dropped their price objective on shares of Campbell's from $39.00 to $34.00 and set a "neutral" rating on the stock in a research note on Monday, June 9th. Royal Bank Of Canada dropped their price objective on shares of Campbell's from $44.00 to $38.00 and set a "sector perform" rating on the stock in a research note on Tuesday, June 3rd. Bank of America dropped their price objective on shares of Campbell's from $37.00 to $33.00 and set an "underperform" rating on the stock in a research note on Tuesday, June 3rd. Barclays dropped their price objective on shares of Campbell's from $35.00 to $30.00 and set an "underweight" rating on the stock in a research note on Monday, July 14th. Finally, Evercore ISI dropped their price objective on shares of Campbell's from $46.00 to $41.00 and set an "in-line" rating on the stock in a research note on Thursday, May 29th. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average 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.