Virtus Investment Advisers Inc. Acquires Shares of 13,915 The Campbell's Company (NASDAQ:CPB)

Virtus Investment Advisers Inc. bought a new stake in The Campbell's Company (NASDAQ:CPB - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 13,915 shares of the company's stock, valued at approximately $583,000.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Campbell's by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 23,625,605 shares of the company's stock valued at $989,440,000 after purchasing an additional 447,203 shares during the period. Van ECK Associates Corp increased its holdings in shares of Campbell's by 6.1% in the fourth quarter. Van ECK Associates Corp now owns 9,247,213 shares of the company's stock valued at $387,273,000 after purchasing an additional 531,281 shares during the period. Beutel Goodman & Co Ltd. increased its holdings in shares of Campbell's by 0.5% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 6,925,365 shares of the company's stock valued at $290,034,000 after purchasing an additional 35,160 shares during the period. Geode Capital Management LLC increased its holdings in shares of Campbell's by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 5,323,332 shares of the company's stock valued at $222,420,000 after purchasing an additional 57,717 shares during the period. Finally, Brandywine Trust Co. increased its holdings in shares of Campbell's by 1.8% in the fourth quarter. Brandywine Trust Co. now owns 4,867,984 shares of the company's stock valued at $203,871,000 after purchasing an additional 84,778 shares during the period. Institutional investors and hedge funds own 52.35% of the company's stock.

Campbell's Trading Down 1.8%

NASDAQ CPB traded down $0.61 during trading hours on Friday, hitting $33.50. 5,980,389 shares of the company's stock were exchanged, compared to its average volume of 2,839,639. The business's 50 day moving average is $37.04 and its 200-day moving average is $39.72. The Campbell's Company has a 12-month low of $32.95 and a 12-month high of $52.81. The firm has a market capitalization of $9.99 billion, a P/E ratio of 18.31, a price-to-earnings-growth ratio of 2.71 and a beta of 0.14. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.50 and a current ratio of 0.91.

Campbell's (NASDAQ:CPB - Get Free Report) last released its quarterly earnings data on Wednesday, March 5th. The company reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.01. The company had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.74 billion. Campbell's had a return on equity of 23.79% and a net margin of 5.57%. Campbell's's revenue for the quarter was up 9.3% on a year-over-year basis. As a group, analysts anticipate that The Campbell's Company will post 3.15 EPS for the current fiscal year.

Campbell's Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 4th. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.66%. Campbell's's dividend payout ratio (DPR) is 90.17%.

Insider Activity

In other news, EVP Charles A. Brawley III sold 2,498 shares of the stock in a transaction dated Monday, March 31st. The stock was 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 approximately $1,504,727.70. This trade represents a 6.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 20.19% of the company's stock.

Wall Street Analyst Weigh In

CPB has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered Campbell's from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $48.00 to $37.00 in a report on Thursday, March 6th. Royal Bank of Canada dropped their price objective on Campbell's from $51.00 to $44.00 and set a "sector perform" rating on the stock in a report on Thursday, March 6th. Stifel Nicolaus dropped their price objective on Campbell's from $47.00 to $40.00 and set a "hold" rating on the stock in a report on Friday, January 24th. Consumer Edge reaffirmed an "equal weight" rating on shares of Campbell's in a report on Monday, March 17th. Finally, Morgan Stanley started coverage on Campbell's in a report on Monday, March 24th. They set an "equal weight" rating and a $40.00 price objective on the stock. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $42.80.

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.