The Campbell's Company (NASDAQ:CPB) Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC decreased its stake in The Campbell's Company (NASDAQ:CPB - Free Report) by 53.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,983 shares of the company's stock after selling 25,401 shares during the quarter. Manning & Napier Advisors LLC's holdings in Campbell's were worth $878,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. NBC Securities Inc. purchased a new position in Campbell's in the 1st quarter valued at $31,000. Sherman Asset Management Inc. purchased a new position in shares of Campbell's in the fourth quarter worth about $36,000. Principal Securities Inc. lifted its stake in shares of Campbell's by 45.5% in the fourth quarter. Principal Securities Inc. now owns 927 shares of the company's stock worth $39,000 after buying an additional 290 shares in the last quarter. Physician Wealth Advisors Inc. purchased a new stake in Campbell's during the 4th quarter valued at about $47,000. Finally, Riverview Trust Co acquired a new stake in Campbell's in the 1st quarter valued at about $46,000. Hedge funds and other institutional investors own 52.35% of the company's stock.

Campbell's Stock Down 3.0%

Shares of CPB stock traded down $0.96 during trading hours on Wednesday, reaching $31.21. 4,640,871 shares of the stock were exchanged, compared to its average volume of 3,031,097. The business's fifty day moving average is $34.74 and its two-hundred day moving average is $37.94. The firm has a market capitalization of $9.30 billion, a P/E ratio of 20.68, a P/E/G ratio of 9.33 and a beta of 0.11. The Campbell's Company has a 12-month low of $31.19 and a 12-month high of $52.81. 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 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.08. The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.44 billion. Campbell's had a net margin of 4.44% and a return on equity of 23.22%. The company's quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.75 EPS. As a group, research analysts expect that The Campbell's Company will post 3.15 EPS for the current fiscal year.

Campbell's Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 4th. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 5.00%. The ex-dividend date of this dividend is Thursday, July 3rd. Campbell's's dividend payout ratio (DPR) is presently 103.31%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. DA Davidson dropped their price target on Campbell's from $39.00 to $34.00 and set a "neutral" rating for the company in a research report on Monday, June 9th. Royal Bank Of Canada reduced their price target on Campbell's from $44.00 to $38.00 and set a "sector perform" rating on the stock in a report on Tuesday, June 3rd. Citigroup dropped their price objective on shares of Campbell's from $33.00 to $32.00 and set a "sell" rating for the company in a report on Tuesday, June 3rd. Jefferies Financial Group reduced 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, Wells Fargo & Company dropped their price target on shares of Campbell's from $40.00 to $34.00 and set an "equal weight" rating for the company in a research note on Friday, May 30th. Five analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Campbell's has a consensus rating of "Hold" and a consensus price target of $40.11.

Insider Buying and Selling

In related news, EVP Charles A. Brawley III sold 2,498 shares of the company's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $40.03, for a total value of $99,994.94. Following the completion of the sale, the executive vice president now directly owns 37,590 shares of the company's stock, valued at $1,504,727.70. This represents a 6.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 20.19% of the stock is owned by company insiders.

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.