LSV Asset Management Sells 113,500 Shares of The Campbell's Company (NASDAQ:CPB)

Key Points

• LSV Asset Management has decreased its holdings in The Campbell's Company (NASDAQ:CPB) by 2.8%, owning 3,870,200 shares after selling 113,500 shares in the first quarter.
• Campbell's reported a 4.5% year-over-year increase in revenue, with quarterly earnings of $0.73 EPS, exceeding estimates of $0.65 EPS.
• The company has declared a quarterly dividend of $0.39 per share, translating to a 4.8% dividend yield with a payout ratio of 103.31%.

LSV Asset Management lessened its position in shares of The Campbell's Company (NASDAQ:CPB - Free Report) by 2.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,870,200 shares of the company's stock after selling 113,500 shares during the period. LSV Asset Management owned 1.30% of Campbell's worth $154,498,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. NBC Securities Inc. bought a new position in shares of Campbell's during the 1st quarter valued at about $31,000. Riverview Trust Co bought a new position in shares of Campbell's during the 1st quarter valued at about $46,000. Banque Cantonale Vaudoise bought a new position in shares of Campbell's during the 1st quarter valued at about $47,000. Curat Global LLC bought a new position in shares of Campbell's during the 1st quarter valued at about $58,000. Finally, Canada Post Corp Registered Pension Plan bought a new position in shares of Campbell's during the 4th quarter valued at about $59,000. Hedge funds and other institutional investors own 52.35% of the company's stock.

Campbell's Stock Down 0.1%

CPB stock traded down $0.04 on Monday, reaching $32.29. 5,257,056 shares of the company traded hands, compared to its average volume of 6,351,238. The Campbell's Company has a one year low of $29.39 and a one year high of $52.81. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.78 and a quick ratio of 0.33. The company has a market cap of $9.63 billion, a P/E ratio of 21.38, a price-to-earnings-growth ratio of 10.05 and a beta of 0.08. The firm has a fifty day simple moving average of $32.26 and a 200-day simple moving average of $35.97.

Campbell's (NASDAQ:CPB - Get Free Report) last posted 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 analyst estimates of $2.44 billion. Campbell's had a return on equity of 23.22% and a net margin of 4.44%. The company's quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.75 EPS. Research analysts anticipate that The Campbell's Company will post 3.15 earnings per share for the current year.

Campbell's Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 4th. Shareholders of record on Thursday, July 3rd will be issued 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 dividend yield of 4.8%. Campbell's's dividend payout ratio (DPR) is presently 103.31%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CPB shares. DA Davidson dropped their target price on Campbell's from $39.00 to $34.00 and set a "neutral" rating for the company in a report on Monday, June 9th. Deutsche Bank Aktiengesellschaft dropped their target price on Campbell's from $43.00 to $39.00 and set a "hold" rating for the company in a report on Wednesday, May 21st. 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. Argus cut Campbell's from a "buy" rating to a "hold" rating in a report on Friday, June 20th. Finally, Wells Fargo & Company dropped their target price on Campbell's from $34.00 to $32.00 and set an "equal weight" rating for the company in a report on Wednesday, July 9th. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company 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.