Washington Capital Management Inc. Grows Stock Holdings in The Campbell's Company (NASDAQ:CPB)

Washington Capital Management Inc. boosted its holdings in shares of The Campbell's Company (NASDAQ:CPB - Free Report) by 55.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,900 shares of the company's stock after buying an additional 10,975 shares during the quarter. Campbell's makes up approximately 1.0% of Washington Capital Management Inc.'s investment portfolio, making the stock its 17th largest position. Washington Capital Management Inc.'s holdings in Campbell's were worth $1,234,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CPB. Two Sigma Advisers LP boosted its position in shares of Campbell's by 272.7% in the fourth quarter. Two Sigma Advisers LP now owns 2,243,300 shares of the company's stock valued at $93,949,000 after acquiring an additional 1,641,400 shares during the period. Man Group plc boosted its holdings in Campbell's by 1,296.1% in the 4th quarter. Man Group plc now owns 1,407,161 shares of the company's stock valued at $58,932,000 after purchasing an additional 1,306,372 shares during the period. Invesco Ltd. grew its position in shares of Campbell's by 38.2% during the 4th quarter. Invesco Ltd. now owns 4,645,548 shares of the company's stock worth $194,556,000 after purchasing an additional 1,282,957 shares in the last quarter. Norges Bank bought a new position in shares of Campbell's during the fourth quarter worth approximately $50,908,000. Finally, Raiffeisen Bank International AG acquired a new stake in shares of Campbell's in the fourth quarter valued at approximately $48,468,000. Institutional investors own 52.35% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Jefferies Financial Group cut their target price on Campbell's from $40.00 to $37.00 and set a "buy" rating for the company in a research report on Wednesday, May 21st. DA Davidson cut their price objective on shares of Campbell's from $39.00 to $34.00 and set a "neutral" rating for the company in a research report on Monday. Consumer Edge reissued an "equal weight" rating on shares of Campbell's in a report on Monday, March 17th. Barclays cut their price target on shares of Campbell's from $40.00 to $35.00 and set an "underweight" rating for the company in a report on Tuesday, June 3rd. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Campbell's from $43.00 to $39.00 and set a "hold" rating on the stock in a research note on Wednesday, May 21st. Five equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $40.11.

Insider Buying and Selling

In related news, EVP Charles A. Brawley III sold 2,498 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $40.03, for a total transaction of $99,994.94. Following the transaction, the executive vice president now owns 37,590 shares of the company's stock, valued at approximately $1,504,727.70. This trade represents a 6.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 20.19% of the stock is owned by company insiders.

Campbell's Stock Performance

CPB stock traded down $0.67 during midday trading on Wednesday, hitting $33.40. The company's stock had a trading volume of 4,691,296 shares, compared to its average volume of 3,473,132. The stock has a market cap of $9.96 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 2.71 and a beta of 0.11. The company has a quick ratio of 0.50, a current ratio of 0.91 and a debt-to-equity ratio of 1.74. The stock's 50-day moving average price is $35.87 and its 200 day moving average price is $38.83. The Campbell's Company has a 1 year low of $32.95 and a 1 year high of $52.81.

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, topping analysts' consensus estimates of $0.65 by $0.08. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.44 billion. Campbell's had a return on equity of 23.79% and a net margin of 5.57%. The company's quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.75 EPS. On average, equities analysts forecast 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. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date is Thursday, July 3rd. Campbell's's dividend payout ratio is currently 103.31%.

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.