Meyer Handelman Co. Sells 8,100 Shares of The Campbell's Company (NASDAQ:CPB)

Meyer Handelman Co. lowered its stake in The Campbell's Company (NASDAQ:CPB - Free Report) by 8.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,635 shares of the company's stock after selling 8,100 shares during the period. Meyer Handelman Co.'s holdings in Campbell's were worth $3,299,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CPB. Sherman Asset Management Inc. bought a new position in Campbell's during the fourth quarter valued at about $36,000. Principal Securities Inc. grew its holdings in shares of Campbell's by 45.5% during the 4th quarter. Principal Securities Inc. now owns 927 shares of the company's stock worth $39,000 after purchasing an additional 290 shares in the last quarter. Kentucky Trust Co bought a new stake in shares of Campbell's during the fourth quarter valued at approximately $42,000. Quent Capital LLC raised its stake in shares of Campbell's by 77.7% in the fourth quarter. Quent Capital LLC now owns 1,100 shares of the company's stock valued at $46,000 after purchasing an additional 481 shares in the last quarter. Finally, Stonebridge Financial Group LLC acquired a new position in shares of Campbell's in the fourth quarter valued at $47,000. Institutional investors and hedge funds own 52.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CPB. UBS Group began coverage on shares of Campbell's in a research note on Wednesday, April 23rd. They set a "sell" rating and a $36.00 price target on the stock. DA Davidson decreased their target price on shares of Campbell's from $46.00 to $39.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 11th. Morgan Stanley initiated coverage on shares of Campbell's in a research report on Monday, March 24th. They issued an "equal weight" rating and a $40.00 price target for the company. Consumer Edge reaffirmed an "equal weight" rating on shares of Campbell's in a report on Monday, March 17th. Finally, Jefferies Financial Group dropped their target price on 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, eleven have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $42.00.

Campbell's Price Performance

CPB stock traded up $0.21 during midday trading on Monday, reaching $34.25. 8,849,335 shares of the company's stock traded hands, compared to its average volume of 2,892,339. The company has a 50-day simple moving average of $36.62 and a two-hundred day simple moving average of $39.27. The Campbell's Company has a 1-year low of $32.95 and a 1-year high of $52.81. The company has a market cap of $10.21 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 2.71 and a beta of 0.14. The company has a quick ratio of 0.50, a current ratio of 0.91 and a debt-to-equity ratio of 1.74.

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 return on equity of 23.79% and a net margin of 5.57%. During the same quarter in the previous year, the business posted $0.75 earnings per share. Campbell's's revenue was up 4.5% on a year-over-year basis. On average, analysts anticipate that The Campbell's Company will post 3.15 earnings per share for the current year.

Campbell's Announces Dividend

The company also recently disclosed 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 of this dividend is Thursday, July 3rd. This represents a $1.56 dividend on an annualized basis and a yield of 4.55%. Campbell's's payout ratio is 90.17%.

Insider Buying and Selling at Campbell's

In other Campbell's news, EVP Charles A. Brawley III sold 2,498 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $40.03, for a total value of $99,994.94. Following the transaction, the executive vice president now directly owns 37,590 shares in the company, valued at approximately $1,504,727.70. This trade represents a 6.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 20.19% of the company's stock.

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.