The Campbell’s Company (NASDAQ:CPB) Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC reduced its stake in shares of The Campbell’s Company (NASDAQ:CPB) by 53.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,983 shares of the company’s stock after selling 25,401 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Campbell’s were worth $878,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Two Sigma Advisers LP boosted its holdings in shares of Campbell’s by 272.7% during 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 lifted its position 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 last quarter. Invesco Ltd. lifted its position in Campbell’s by 38.2% in the 4th quarter. Invesco Ltd. now owns 4,645,548 shares of the company’s stock valued at $194,556,000 after purchasing an additional 1,282,957 shares during the last quarter. Norges Bank acquired a new position in Campbell’s during the 4th quarter valued at about $50,908,000. Finally, Raiffeisen Bank International AG bought a new position in Campbell’s in the 4th quarter worth about $48,468,000. 52.35% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Evercore ISI dropped 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 research note on Thursday, May 29th. Royal Bank Of Canada decreased their price objective on Campbell’s from $44.00 to $38.00 and set a “sector perform” rating for the company in a report on Tuesday, June 3rd. Wells Fargo & Company lowered their target price on Campbell’s from $40.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Friday, May 30th. Deutsche Bank Aktiengesellschaft reduced their price target on Campbell’s from $43.00 to $39.00 and set a “hold” rating for the company in a research report on Wednesday, May 21st. Finally, BNP Paribas raised Campbell’s to a “strong sell” rating in a research note on Wednesday, February 26th. 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $40.11.

Campbell’s Price Performance

NASDAQ:CPB opened at $32.01 on Tuesday. The company has a quick ratio of 0.33, a current ratio of 0.78 and a debt-to-equity ratio of 1.57. The business’s 50-day moving average price is $34.86 and its 200 day moving average price is $37.98. The Campbell’s Company has a 52-week low of $31.58 and a 52-week high of $52.81. The firm has a market cap of $9.54 billion, a P/E ratio of 21.20, a PEG ratio of 9.28 and a beta of 0.11.

Campbell’s (NASDAQ:CPB) last posted its quarterly earnings data on Monday, June 2nd. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.08. The company had revenue of $2.48 billion during 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 business’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 EPS. As a group, sell-side analysts predict that The Campbell’s Company will post 3.15 earnings per share for the current fiscal year.

Campbell’s Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 4th. Investors 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 yield of 4.87%. The ex-dividend date of this dividend is Thursday, July 3rd. Campbell’s’s payout ratio is 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.