Monte Financial Group LLC Acquires 24,892 Shares of The Campbell's Company (NASDAQ:CPB)

Monte Financial Group LLC increased its stake in The Campbell's Company (NASDAQ:CPB - Free Report) by 20.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 149,399 shares of the company's stock after purchasing an additional 24,892 shares during the quarter. Campbell's comprises about 2.3% of Monte Financial Group LLC's portfolio, making the stock its 20th biggest holding. Monte Financial Group LLC owned 0.05% of Campbell's worth $5,607,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. PFG Investments LLC boosted its position in shares of Campbell's by 35.6% during the 1st quarter. PFG Investments LLC now owns 9,442 shares of the company's stock valued at $377,000 after purchasing an additional 2,480 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Campbell's by 2.7% in the 1st quarter. Blue Trust Inc. now owns 45,662 shares of the company's stock valued at $1,823,000 after purchasing an additional 1,213 shares during the period. Premier Path Wealth Partners LLC lifted its position in Campbell's by 23.8% in the 1st quarter. Premier Path Wealth Partners LLC now owns 32,283 shares of the company's stock worth $1,289,000 after buying an additional 6,204 shares in the last quarter. Steel Grove Capital Advisors LLC boosted its stake in shares of Campbell's by 11.2% during the 1st quarter. Steel Grove Capital Advisors LLC now owns 42,649 shares of the company's stock valued at $1,703,000 after buying an additional 4,303 shares during the period. Finally, State of Alaska Department of Revenue grew its holdings in shares of Campbell's by 1.4% during the 1st quarter. State of Alaska Department of Revenue now owns 47,048 shares of the company's stock valued at $1,878,000 after acquiring an additional 650 shares in the last quarter. Institutional investors own 52.35% of the company's stock.

Insider Activity

In other Campbell's news, EVP Charles A. Brawley III sold 2,498 shares of the business'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 transaction, the executive vice president now directly owns 37,590 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 20.19% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CPB has been the topic of a number of recent research reports. JPMorgan Chase & Co. downgraded Campbell's from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $48.00 to $37.00 in a research note on Thursday, March 6th. Deutsche Bank Aktiengesellschaft reduced their price target on Campbell's from $43.00 to $39.00 and set a "hold" rating for the company in a report on Wednesday, May 21st. Consumer Edge restated an "equal weight" rating on shares of Campbell's in a report on Monday, March 17th. Argus cut shares of Campbell's from a "buy" rating to a "hold" rating in a research note on Friday. Finally, Evercore ISI decreased their target price on shares of Campbell's from $46.00 to $41.00 and set an "in-line" rating for the company in a research report on Thursday, May 29th. Five research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $40.11.

Campbell's Price Performance

NASDAQ CPB traded up $0.16 during trading hours on Tuesday, reaching $32.17. 5,239,652 shares of the company's stock were exchanged, compared to its average volume of 3,020,755. The firm has a fifty day moving average of $34.86 and a 200-day moving average of $37.98. 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 Campbell's Company has a one year low of $31.58 and a one year high of $52.81. The stock has a market cap of $9.59 billion, a PE ratio of 21.30, a price-to-earnings-growth ratio of 9.28 and a beta of 0.11.

Campbell's (NASDAQ:CPB - Get Free Report) last announced its 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 23.22% and a net margin of 4.44%. The company had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same period last year, the company posted $0.75 earnings per share. The firm's quarterly revenue was up 4.5% compared to the same quarter last year. On average, equities research analysts predict that The Campbell's Company will post 3.15 earnings per share for the current fiscal year.

Campbell's Announces Dividend

The business 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. The ex-dividend date is Thursday, July 3rd. This represents a $1.56 annualized dividend and a dividend yield of 4.85%. Campbell's's payout ratio is currently 103.31%.

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.