Royal Bank of Canada Purchases 38,534 Shares of The Campbell's Company (NASDAQ:CPB)

Royal Bank of Canada increased its position in shares of The Campbell's Company (NASDAQ:CPB - Free Report) by 11.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 365,148 shares of the company's stock after buying an additional 38,534 shares during the quarter. Royal Bank of Canada owned 0.12% of Campbell's worth $15,293,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CPB. Principal Securities Inc. grew its holdings in shares of Campbell's by 45.5% in the 4th quarter. Principal Securities Inc. now owns 927 shares of the company's stock valued at $39,000 after acquiring an additional 290 shares in the last quarter. SPC Financial Inc. grew its stake in Campbell's by 2.3% in the fourth quarter. SPC Financial Inc. now owns 13,575 shares of the company's stock valued at $569,000 after purchasing an additional 300 shares in the last quarter. Ascent Wealth Partners LLC grew its stake in Campbell's by 1.5% in the fourth quarter. Ascent Wealth Partners LLC now owns 20,176 shares of the company's stock valued at $845,000 after purchasing an additional 306 shares in the last quarter. DoubleLine ETF Adviser LP grew its stake in shares of Campbell's by 2.8% in the fourth quarter. DoubleLine ETF Adviser LP now owns 11,640 shares of the company's stock valued at $487,000 after buying an additional 312 shares in the last quarter. Finally, Spire Wealth Management grew its stake in shares of Campbell's by 29.6% in the fourth quarter. Spire Wealth Management now owns 1,406 shares of the company's stock valued at $59,000 after buying an additional 321 shares in the last quarter. 52.35% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Charles A. Brawley III sold 2,498 shares of Campbell's stock in a transaction on Monday, March 31st. The shares were 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 owns 37,590 shares in the company, valued at $1,504,727.70. The trade was a 6.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 20.19% of the stock is currently owned by corporate insiders.

Campbell's Stock Performance

NASDAQ:CPB remained flat at $34.17 during trading hours on Friday. The company had a trading volume of 6,525,579 shares, compared to its average volume of 2,868,550. The company has a market cap of $10.19 billion, a PE ratio of 18.67, a price-to-earnings-growth 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. The Campbell's Company has a twelve month low of $32.95 and a twelve month high of $52.81. The business's 50 day moving average is $36.62 and its two-hundred day moving average is $39.30.

Campbell's (NASDAQ:CPB - Get Free Report) last issued its quarterly earnings data on Wednesday, March 5th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.73 by $0.01. Campbell's had a return on equity of 23.79% and a net margin of 5.57%. The company had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.74 billion. The firm's revenue for the quarter was up 9.3% compared to the same quarter last year. 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 firm 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 $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 4.57%. The ex-dividend date is Thursday, July 3rd. Campbell's's dividend payout ratio (DPR) is presently 90.17%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CPB. Royal Bank of Canada decreased their target price on shares of Campbell's from $51.00 to $44.00 and set a "sector perform" rating for the company in a research note on Thursday, March 6th. Morgan Stanley started 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 objective for the company. Jefferies Financial Group reduced their price target on Campbell's from $42.00 to $40.00 and set a "hold" rating for the company in a report on Wednesday, March 5th. Bank of America reduced their price target on Campbell's from $41.00 to $37.00 and set an "underperform" rating for the company in a report on Wednesday, May 21st. Finally, JPMorgan Chase & Co. cut Campbell's from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $48.00 to $37.00 in a report on Thursday, March 6th. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $42.40.

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.