Knights of Columbus Asset Advisors LLC Has $180,000 Stock Holdings in The Campbell's Company (NASDAQ:CPB)

Key Points

• Knights of Columbus Asset Advisors LLC has reduced its stake in The Campbell's Company by 91.7%, holding only 4,518 shares after selling 49,884 shares in the first quarter.
• Wall Street analysts have lowered their price targets for Campbell's, with Bank of America cutting theirs from $37.00 to $33.00 and assigning an "underperform" rating.
• The Campbell's Company declared a quarterly dividend of $0.39, which results in an annualized yield of 4.78%, despite a payout ratio exceeding 100%.

Knights of Columbus Asset Advisors LLC lowered its holdings in shares of The Campbell's Company (NASDAQ:CPB - Free Report) by 91.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,518 shares of the company's stock after selling 49,884 shares during the quarter. Knights of Columbus Asset Advisors LLC's holdings in Campbell's were worth $180,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Campbell's by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 23,625,605 shares of the company's stock worth $989,440,000 after acquiring an additional 447,203 shares during the period. Beutel Goodman & Co Ltd. increased its holdings in shares of Campbell's by 0.5% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 6,925,365 shares of the company's stock worth $290,034,000 after purchasing an additional 35,160 shares during the period. Geode Capital Management LLC increased its holdings in shares of Campbell's by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 5,323,332 shares of the company's stock worth $222,420,000 after purchasing an additional 57,717 shares during the period. Brandywine Trust Co. increased its holdings in shares of Campbell's by 1.8% during the 4th quarter. Brandywine Trust Co. now owns 4,867,984 shares of the company's stock worth $203,871,000 after purchasing an additional 84,778 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Campbell's by 38.2% during the 4th quarter. Invesco Ltd. now owns 4,645,548 shares of the company's stock worth $194,556,000 after purchasing an additional 1,282,957 shares during the period. Institutional investors own 52.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CPB shares. Stephens lowered their target price on shares of Campbell's from $48.00 to $43.00 in a research note on Wednesday, May 28th. Wells Fargo & Company lowered their target price on shares of Campbell's from $34.00 to $32.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 9th. Morgan Stanley lowered 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 research note on Tuesday, June 3rd. Jefferies Financial Group lowered their target price on shares of Campbell's from $40.00 to $37.00 and set a "buy" rating on the stock in a research note on Wednesday, May 21st. Finally, UBS Group initiated coverage on shares of Campbell's in a research note on Wednesday, April 23rd. They issued a "sell" rating and a $36.00 target price on the stock. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $39.11.

Campbell's Price Performance

Shares of CPB stock traded down $0.22 during trading hours on Wednesday, reaching $32.63. 2,677,232 shares of the company were exchanged, compared to its average volume of 4,041,362. The Campbell's Company has a fifty-two week low of $29.39 and a fifty-two week high of $52.81. The stock's fifty day moving average is $32.40 and its two-hundred day moving average is $36.17. The company has a market cap of $9.73 billion, a price-to-earnings ratio of 21.60, a P/E/G ratio of 9.41 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, beating 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 for the quarter, compared to analyst estimates of $2.44 billion. During the same period in the prior year, the business posted $0.75 earnings per share. Campbell's's revenue was up 4.5% compared to the same quarter last year. Sell-side analysts forecast that The Campbell's Company will post 3.15 earnings per share for the current fiscal year.

Campbell's Dividend Announcement

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 $0.39 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.56 annualized dividend and a yield of 4.78%. Campbell's's dividend payout ratio 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.