Gateway Investment Advisers LLC Makes New $496,000 Investment in The Campbell's Company (NASDAQ:CPB)

Gateway Investment Advisers LLC purchased a new position in The Campbell's Company (NASDAQ:CPB - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 12,430 shares of the company's stock, valued at approximately $496,000.

A number of other hedge funds have also bought and sold shares of CPB. Two Sigma Advisers LP lifted its holdings in Campbell's by 272.7% in the fourth quarter. Two Sigma Advisers LP now owns 2,243,300 shares of the company's stock worth $93,949,000 after acquiring an additional 1,641,400 shares during the last quarter. Man Group plc lifted its holdings in Campbell's by 1,296.1% in the fourth quarter. Man Group plc now owns 1,407,161 shares of the company's stock worth $58,932,000 after acquiring an additional 1,306,372 shares during the last quarter. Invesco Ltd. lifted its holdings in Campbell's by 38.2% in the fourth quarter. Invesco Ltd. now owns 4,645,548 shares of the company's stock worth $194,556,000 after acquiring an additional 1,282,957 shares during the last quarter. Norges Bank bought a new position in Campbell's in the fourth quarter worth about $50,908,000. Finally, Raiffeisen Bank International AG bought a new position in Campbell's in the fourth quarter worth about $48,468,000. 52.35% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Campbell's news, EVP Charles A. Brawley III sold 2,498 shares of Campbell's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $40.03, for a total value of $99,994.94. Following the transaction, the executive vice president now owns 37,590 shares in the company, valued at approximately $1,504,727.70. The trade was a 6.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 20.19% of the stock is currently owned by company insiders.

Campbell's Price Performance

NASDAQ:CPB traded down $0.53 during midday trading on Friday, hitting $32.79. 4,834,677 shares of the stock were exchanged, compared to its average volume of 2,943,459. The Campbell's Company has a one year low of $32.74 and a one year high of $52.81. The company has a market capitalization of $9.78 billion, a price-to-earnings ratio of 17.92, a P/E/G ratio of 2.71 and a beta of 0.11. The business has a 50-day moving average price of $35.59 and a two-hundred day moving average price of $38.61. The company has a current ratio of 0.91, a quick ratio of 0.50 and a debt-to-equity ratio of 1.74.

Campbell's (NASDAQ:CPB - Get Free Report) last announced its earnings results 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 return on equity of 23.79% and a net margin of 5.57%. The firm had revenue of $2.48 billion for the quarter, compared to analysts' expectations of $2.44 billion. During the same quarter in the previous year, the company earned $0.75 earnings per share. The firm's quarterly revenue 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 4th. Shareholders of record on Thursday, July 3rd will be given a $0.39 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.56 annualized dividend and a yield of 4.76%. Campbell's's dividend payout ratio (DPR) is 103.31%.

Wall Street Analyst Weigh In

CPB has been the topic of a number of recent research reports. Royal Bank of Canada cut their target price on shares of Campbell's from $44.00 to $38.00 and set a "sector perform" rating on the stock in a report on Tuesday, June 3rd. Morgan Stanley cut their target price on shares of Campbell's from $40.00 to $35.00 and set an "equal weight" rating on the stock in a report on Tuesday, June 3rd. Jefferies Financial Group cut their target price on shares of Campbell's from $40.00 to $37.00 and set a "buy" rating on the stock in a report on Wednesday, May 21st. DA Davidson cut their target price on shares of Campbell's from $39.00 to $34.00 and set a "neutral" rating on the stock in a report on Monday. Finally, 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. Five analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $40.11.

About Campbell's

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.