The Campbell's Company (NASDAQ:CPB) Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its stake in The Campbell's Company by 5.1%, now holding approximately 0.32% of the company's shares valued at $38.5 million.
• A number of institutional investors have recently acquired new stakes in Campbell's, with 52.35% of the company's stock now owned by institutional investors and hedge funds.
• Campbell's announced a quarterly dividend of $0.39 per share, reflecting a dividend yield of 4.75%, though its payout ratio is notably high at 103.31%.

TD Asset Management Inc decreased its stake in The Campbell's Company (NASDAQ:CPB - Free Report) by 5.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 965,417 shares of the company's stock after selling 52,234 shares during the period. TD Asset Management Inc owned about 0.32% of Campbell's worth $38,539,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. World Investment Advisors acquired a new stake in shares of Campbell's during the first quarter worth $410,000. Teacher Retirement System of Texas bought a new stake in Campbell's in the first quarter worth about $1,131,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Campbell's by 13.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,865 shares of the company's stock valued at $1,027,000 after purchasing an additional 3,010 shares during the period. KBC Group NV increased its holdings in Campbell's by 182.0% during the 1st quarter. KBC Group NV now owns 498,216 shares of the company's stock worth $19,889,000 after acquiring an additional 321,520 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Campbell's by 24.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,366 shares of the company's stock worth $534,000 after acquiring an additional 2,614 shares during the period. Institutional investors own 52.35% of the company's stock.

Campbell's Stock Up 0.8%

NASDAQ:CPB traded up $0.27 during mid-day trading on Friday, reaching $32.19. The company's stock had a trading volume of 1,963,716 shares, compared to its average volume of 4,101,609. The Campbell's Company has a 1 year low of $29.39 and a 1 year high of $52.81. The stock has a fifty day moving average of $32.36 and a 200-day moving average of $36.15. The firm has a market capitalization of $9.60 billion, a PE ratio of 21.29, a price-to-earnings-growth ratio of 9.37 and a beta of 0.08. The company has a quick ratio of 0.33, a current ratio of 0.78 and a debt-to-equity ratio of 1.57.

Campbell's (NASDAQ:CPB - Get Free Report) last announced its earnings results on Monday, June 2nd. The company reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.08. The business had revenue of $2.48 billion during 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 firm's revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.75 earnings per share. Equities research analysts forecast that The Campbell's Company will post 3.15 earnings per share for the current year.

Campbell's Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 4th. Investors of record on Thursday, July 3rd will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 4.8%. The ex-dividend date is Thursday, July 3rd. Campbell's's dividend payout ratio is 103.31%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Argus cut shares of Campbell's from a "buy" rating to a "hold" rating in a research note on Friday, June 20th. Piper Sandler decreased their price target on shares of Campbell's from $41.00 to $35.00 and set an "overweight" rating for the company in a research note on Tuesday, July 15th. UBS Group initiated coverage on shares of Campbell's in a report on Wednesday, April 23rd. They set a "sell" rating and a $36.00 price target on the stock. Morgan Stanley dropped their price objective on shares of Campbell's from $40.00 to $35.00 and set an "equal weight" rating on the stock in a report on Tuesday, June 3rd. Finally, Royal Bank Of Canada lowered their price target on shares of Campbell's from $44.00 to $38.00 and set a "sector perform" rating on the stock in a report on Tuesday, June 3rd. Five research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Campbell's presently has a consensus rating of "Hold" and a consensus price target of $39.11.

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.