Washington Capital Management Inc. Raises Holdings in The Campbell’s Company (NASDAQ:CPB)

Washington Capital Management Inc. increased its position in The Campbell’s Company (NASDAQ:CPB) by 55.1% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 30,900 shares of the company’s stock after buying an additional 10,975 shares during the period. Campbell’s accounts for about 1.0% of Washington Capital Management Inc.’s holdings, making the stock its 17th largest holding. Washington Capital Management Inc.’s holdings in Campbell’s were worth $1,234,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CPB. Two Sigma Advisers LP raised its position in 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 purchasing an additional 1,641,400 shares during the period. Man Group plc raised its position in Campbell’s by 1,296.1% in the fourth 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. raised its position in Campbell’s by 38.2% in the fourth 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 period. Norges Bank purchased a new position in Campbell’s in the fourth quarter valued at about $50,908,000. Finally, Raiffeisen Bank International AG purchased a new position in Campbell’s in the fourth quarter valued at about $48,468,000. 52.35% of the stock is owned by hedge funds and other institutional investors.

Campbell’s Stock Up 1.1%

NASDAQ:CPB opened at $34.48 on Friday. The company has a market capitalization of $10.28 billion, a price-to-earnings ratio of 18.84, a price-to-earnings-growth ratio of 2.71 and a beta of 0.11. The Campbell’s Company has a one year low of $32.95 and a one year high of $52.81. The stock has a 50-day simple moving average of $36.09 and a 200 day simple moving average of $38.98. 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) last posted its quarterly earnings results on Monday, June 2nd. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.08. The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.44 billion. Campbell’s had a return on equity of 23.79% and a net margin of 5.57%. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the firm earned $0.75 earnings per share. Sell-side analysts predict that The Campbell’s Company will post 3.15 EPS for the current fiscal year.

Campbell’s Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 4th. Investors of record on Thursday, July 3rd will be paid a $0.39 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.56 dividend on an annualized basis and a yield of 4.52%. Campbell’s’s dividend payout ratio (DPR) is 103.31%.

Insider Buying and Selling

In related news, EVP Charles A. Brawley III sold 2,498 shares of Campbell’s 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 transaction, the executive vice president now directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 20.19% of the company’s stock.

Analyst Upgrades and Downgrades

CPB has been the topic of several research reports. JPMorgan Chase & Co. lowered Campbell’s from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $48.00 to $37.00 in a research report on Thursday, March 6th. Stifel Nicolaus cut their price objective on Campbell’s from $40.00 to $38.00 and set a “hold” rating on the stock in a research report on Tuesday, June 3rd. Consumer Edge reaffirmed an “equal weight” rating on shares of Campbell’s in a research report on Monday, March 17th. Citigroup dropped their target price on Campbell’s from $33.00 to $32.00 and set a “sell” rating on the stock in a research report on Tuesday, June 3rd. Finally, Jefferies Financial Group dropped their target price on Campbell’s from $40.00 to $37.00 and set a “buy” rating on the stock in a research report on Wednesday, May 21st. Five equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $40.39.

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.