TrueMark Investments LLC Acquires 124,478 Shares of The Campbell's Company (NASDAQ:CPB)

TrueMark Investments LLC raised its stake in The Campbell's Company (NASDAQ:CPB - Free Report) by 1,178.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 135,042 shares of the company's stock after buying an additional 124,478 shares during the period. Campbell's comprises about 1.4% of TrueMark Investments LLC's investment portfolio, making the stock its 18th biggest position. TrueMark Investments LLC's holdings in Campbell's were worth $5,391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. NBC Securities Inc. bought a new position in shares of Campbell's in the 1st quarter worth $31,000. Sherman Asset Management Inc. bought a new position in shares of Campbell's in the 4th quarter worth $36,000. Principal Securities Inc. increased 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 worth $39,000 after buying an additional 290 shares during the last quarter. Physician Wealth Advisors Inc. bought a new position in shares of Campbell's in the 4th quarter worth $47,000. Finally, Riverview Trust Co purchased a new stake in shares of Campbell's in the 1st quarter valued at $46,000. Institutional investors own 52.35% of the company's stock.

Campbell's Trading Down 0.7%

CPB traded down $0.22 during trading on Thursday, hitting $30.96. 4,874,578 shares of the stock traded hands, compared to its average volume of 3,036,592. 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 Campbell's Company has a 12-month low of $30.91 and a 12-month high of $52.81. The firm has a market capitalization of $9.23 billion, a P/E ratio of 20.50, a price-to-earnings-growth ratio of 9.09 and a beta of 0.11. The firm has a 50-day moving average of $34.50 and a 200 day moving average of $37.81.

Campbell's (NASDAQ:CPB - Get Free Report) last issued its quarterly earnings data on Monday, June 2nd. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.65 by $0.08. Campbell's had a net margin of 4.44% and a return on equity of 23.22%. The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same period in the prior year, the business earned $0.75 EPS. The company's revenue for the quarter was up 4.5% on a year-over-year basis. Equities research analysts anticipate that The Campbell's Company will post 3.15 EPS for the current year.

Campbell's Dividend Announcement

The business also recently disclosed 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 is Thursday, July 3rd. This represents a $1.56 annualized dividend and a yield of 5.04%. Campbell's's dividend payout ratio (DPR) is presently 103.31%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company cut their price objective on shares of Campbell's from $40.00 to $34.00 and set an "equal weight" rating for the company in a research note on Friday, May 30th. UBS Group assumed coverage on shares of Campbell's in a research note on Wednesday, April 23rd. They issued a "sell" rating and a $36.00 price objective for the company. JPMorgan Chase & Co. cut shares of Campbell's from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $48.00 to $37.00 in a research note on Thursday, March 6th. Stifel Nicolaus cut 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. Finally, Morgan Stanley cut 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. 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, the company presently has an average rating of "Hold" and an average price target of $40.11.

Insiders Place Their Bets

In related news, EVP Charles A. Brawley III sold 2,498 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 37,590 shares in the company, valued at $1,504,727.70. This trade represents a 6.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 20.19% of the company's stock.

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.