M&T Bank Corp Sells 18,512 Shares of The Campbell's Company (NASDAQ:CPB)

M&T Bank Corp reduced its position in shares of The Campbell's Company (NASDAQ:CPB - Free Report) by 45.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,848 shares of the company's stock after selling 18,512 shares during the quarter. M&T Bank Corp's holdings in Campbell's were worth $872,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CPB. World Investment Advisors bought a new position in Campbell's in the 1st quarter worth $410,000. Teacher Retirement System of Texas bought a new position in Campbell's in the 1st quarter worth $1,131,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Campbell's by 13.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,865 shares of the company's stock worth $1,027,000 after purchasing an additional 3,010 shares in the last quarter. KBC Group NV raised its holdings in Campbell's by 182.0% in the 1st quarter. KBC Group NV now owns 498,216 shares of the company's stock worth $19,889,000 after purchasing an additional 321,520 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Campbell's by 24.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,366 shares of the company's stock worth $534,000 after purchasing an additional 2,614 shares in the last quarter. 52.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CPB has been the subject of several research reports. Jefferies Financial Group decreased their price target on shares of Campbell's from $40.00 to $37.00 and set a "buy" rating for the company in a research note on Wednesday, May 21st. Stifel Nicolaus reduced their price objective on shares of Campbell's from $40.00 to $38.00 and set a "hold" rating for the company in a research note on Tuesday, June 3rd. Morgan Stanley reduced their price objective on shares of Campbell's from $40.00 to $35.00 and set an "equal weight" rating for the company in a research note on Tuesday, June 3rd. Argus lowered shares of Campbell's from a "buy" rating to a "hold" rating in a research note on Friday, June 20th. Finally, Citigroup dropped their price target on shares of Campbell's from $33.00 to $32.00 and set a "sell" rating on the stock in a report on Tuesday, June 3rd. Five investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $39.33.

Campbell's Price Performance

Shares of Campbell's stock traded down $0.29 on Friday, hitting $31.02. 1,624,491 shares of the company traded hands, compared to its average volume of 3,264,572. The stock has a market capitalization of $9.25 billion, a P/E ratio of 20.57, a price-to-earnings-growth ratio of 9.04 and a beta of 0.08. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.33 and a current ratio of 0.78. The Campbell's Company has a 52 week low of $29.39 and a 52 week high of $52.81. The business has a 50-day simple moving average of $32.89 and a 200 day simple moving average of $36.66.

Campbell's (NASDAQ:CPB - Get Free Report) last released its quarterly earnings data on Monday, June 2nd. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.08. The firm had revenue of $2.48 billion for the quarter, compared to analysts' expectations of $2.44 billion. Campbell's had a net margin of 4.44% and a return on equity of 23.22%. The company's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.75 earnings per share. Research analysts expect 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 disclosed 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 5.03%. The ex-dividend date of this dividend is Thursday, July 3rd. Campbell's's payout ratio is currently 103.31%.

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.