Kentucky Retirement Systems Insurance Trust Fund Lowers Stake in The Campbell’s Company (NASDAQ:CPB)

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in shares of The Campbell’s Company (NASDAQ:CPB) by 12.2% in the first quarter, HoldingsChannel.com reports. The fund owned 5,582 shares of the company’s stock after selling 777 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Campbell’s were worth $223,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Principal Securities Inc. boosted its position in Campbell’s by 45.5% in the 4th quarter. Principal Securities Inc. now owns 927 shares of the company’s stock valued at $39,000 after buying an additional 290 shares during the period. SPC Financial Inc. lifted its stake in Campbell’s by 2.3% in the fourth quarter. SPC Financial Inc. now owns 13,575 shares of the company’s stock worth $569,000 after acquiring an additional 300 shares during the last quarter. DoubleLine ETF Adviser LP lifted its stake in Campbell’s by 2.8% in the fourth quarter. DoubleLine ETF Adviser LP now owns 11,640 shares of the company’s stock worth $487,000 after acquiring an additional 312 shares during the last quarter. Koss Olinger Consulting LLC grew its holdings in Campbell’s by 0.7% during the 4th quarter. Koss Olinger Consulting LLC now owns 52,411 shares of the company’s stock worth $2,195,000 after acquiring an additional 380 shares in the last quarter. Finally, Horizon Investments LLC grew its holdings in Campbell’s by 18.2% during the 4th quarter. Horizon Investments LLC now owns 3,160 shares of the company’s stock worth $131,000 after acquiring an additional 487 shares in the last quarter. Hedge funds and other institutional investors own 52.35% of the company’s stock.

Insider Activity

In related news, EVP Charles A. Brawley III sold 2,498 shares of Campbell’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $40.03, for a total value of $99,994.94. Following 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 20.19% of the company’s stock.

Campbell’s Price Performance

CPB stock opened at $31.18 on Thursday. The company has a current ratio of 0.78, a quick ratio of 0.33 and a debt-to-equity ratio of 1.57. The company has a market capitalization of $9.30 billion, a P/E ratio of 20.65, a PEG ratio of 9.38 and a beta of 0.11. The business has a 50 day simple moving average of $34.63 and a 200-day simple moving average of $37.90. The Campbell’s Company has a twelve month low of $31.17 and a twelve month high of $52.81.

Campbell’s (NASDAQ:CPB) last released its quarterly earnings results on Monday, June 2nd. The company reported $0.73 EPS for the quarter, beating 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 firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the prior year, the firm earned $0.75 EPS. Campbell’s’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, equities analysts anticipate that The Campbell’s Company will post 3.15 EPS for the current year.

Campbell’s Announces Dividend

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 paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 5.00%. The ex-dividend date of this dividend is Thursday, July 3rd. Campbell’s’s dividend payout ratio is presently 103.31%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CPB. Morgan Stanley reduced their price objective on shares of Campbell’s from $40.00 to $35.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 3rd. Citigroup cut their price target on Campbell’s from $33.00 to $32.00 and set a “sell” rating on the stock in a research note on Tuesday, June 3rd. JPMorgan Chase & Co. cut Campbell’s from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $48.00 to $37.00 in a research report on Thursday, March 6th. Bank of America dropped their price objective on Campbell’s from $37.00 to $33.00 and set an “underperform” rating on the stock in a report on Tuesday, June 3rd. Finally, Stephens cut their target price on Campbell’s from $48.00 to $43.00 in a research report on Wednesday, May 28th. Five investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Campbell’s presently has a consensus rating of “Hold” and an average price target of $40.11.

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.