Vestcor Inc Sells 32,891 Shares of The Campbell's Company (NASDAQ:CPB)

Key Points

• Vestcor Inc reduced its stake in The Campbell's Company (NASDAQ:CPB) by 29.8%, owning 77,537 shares after selling 32,891 shares during the first quarter.
• Campbell's quarterly earnings exceeded expectations, reporting an EPS of $0.73 against a consensus estimate of $0.65, and revenue increased by 4.5% year-over-year to $2.48 billion.
• Analysts have mixed ratings on Campbell's stock, with five rating it as a sell, twelve as a hold, and four as a buy, while the average target price is $39.11.

Vestcor Inc cut its position in shares of The Campbell's Company (NASDAQ:CPB - Free Report) by 29.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 77,537 shares of the company's stock after selling 32,891 shares during the quarter. Vestcor Inc's holdings in Campbell's were worth $3,095,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. DoubleLine ETF Adviser LP grew its stake in shares of Campbell's by 2.8% during 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 during the last quarter. Personal CFO Solutions LLC boosted its holdings in shares of Campbell's by 5.5% in the first quarter. Personal CFO Solutions LLC now owns 8,077 shares of the company's stock worth $322,000 after buying an additional 421 shares during the last quarter. Xponance Inc. boosted its holdings in Campbell's by 1.6% in the 1st quarter. Xponance Inc. now owns 28,885 shares of the company's stock worth $1,153,000 after buying an additional 445 shares during the period. GAMMA Investing LLC increased its stake in Campbell's by 6.6% in the 1st quarter. GAMMA Investing LLC now owns 8,064 shares of the company's stock worth $322,000 after acquiring an additional 496 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its stake in shares of Campbell's by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 84,422 shares of the company's stock valued at $3,536,000 after buying an additional 530 shares during the last quarter. Hedge funds and other institutional investors own 52.35% of the company's stock.

Campbell's Price Performance

CPB traded up $0.26 during trading on Monday, reaching $32.59. The stock had a trading volume of 2,310,205 shares, compared to its average volume of 4,106,308. 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 one year low of $29.39 and a one year high of $52.81. The business has a 50-day moving average of $32.29 and a 200-day moving average of $36.02. The stock has a market cap of $9.71 billion, a PE ratio of 21.58, a PEG ratio of 10.05 and a beta of 0.08.

Campbell's (NASDAQ:CPB - Get Free Report) last announced its earnings results on Monday, June 2nd. The company reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.08. The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates 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 in the previous year, the firm posted $0.75 EPS. As a group, equities research analysts anticipate that The Campbell's Company will post 3.15 EPS for the current fiscal year.

Campbell's Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CPB shares. Royal Bank Of Canada dropped their target price on Campbell's from $44.00 to $38.00 and set a "sector perform" rating on the stock in a research report on Tuesday, June 3rd. Wells Fargo & Company cut their target price on Campbell's from $34.00 to $32.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 9th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Campbell's from $43.00 to $39.00 and set a "hold" rating on the stock in a research report on Wednesday, May 21st. DA Davidson cut their price target on shares of Campbell's from $39.00 to $34.00 and set a "neutral" rating on the stock in a research note on Monday, June 9th. Finally, Evercore ISI cut their price target on shares of Campbell's from $46.00 to $41.00 and set an "in-line" rating on the stock in a report on Thursday, May 29th. Five research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price 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.