Bridgewater Associates LP Reduces Holdings in The Campbell's Company (NASDAQ:CPB)

Bridgewater Associates LP lowered its stake in The Campbell's Company (NASDAQ:CPB - Free Report) by 34.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,886 shares of the company's stock after selling 18,364 shares during the period. Bridgewater Associates LP's holdings in Campbell's were worth $1,461,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CPB. Sherman Asset Management Inc. bought a new stake in Campbell's in the fourth quarter valued at $36,000. Principal Securities Inc. increased its stake in Campbell's by 45.5% in the fourth quarter. Principal Securities Inc. now owns 927 shares of the company's stock valued at $39,000 after purchasing an additional 290 shares in the last quarter. Kentucky Trust Co bought a new stake in Campbell's in the fourth quarter valued at $42,000. Quent Capital LLC increased its stake in Campbell's by 77.7% in the fourth quarter. Quent Capital LLC now owns 1,100 shares of the company's stock valued at $46,000 after purchasing an additional 481 shares in the last quarter. Finally, Stonebridge Financial Group LLC bought a new stake in Campbell's in the fourth quarter valued at $47,000. Institutional investors and hedge funds own 52.35% of the company's stock.

Insiders Place Their Bets

In other news, EVP Charles A. Brawley III sold 2,498 shares of the company'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 represents a 6.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 20.19% of the company's stock.

Campbell's Stock Performance

Shares of NASDAQ:CPB traded down $0.59 during midday trading on Thursday, reaching $36.91. 705,275 shares of the company traded hands, compared to its average volume of 2,760,320. 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 Campbell's Company has a 12 month low of $36.02 and a 12 month high of $52.81. The firm has a market capitalization of $11.01 billion, a price-to-earnings ratio of 20.19, a price-to-earnings-growth ratio of 2.71 and a beta of 0.19. The firm's fifty day moving average price is $38.97 and its two-hundred day moving average price is $41.54.

Campbell's (NASDAQ:CPB - Get Free Report) last released its quarterly earnings data on Wednesday, March 5th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.01. The company had revenue of $2.69 billion for the quarter, compared to analyst estimates 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 was up 9.3% on a year-over-year basis. On average, equities analysts expect that The Campbell's Company will post 3.15 earnings per share for the current year.

Campbell's Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Thursday, April 3rd will be paid a $0.39 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $1.56 dividend on an annualized basis and a yield of 4.23%. Campbell's's dividend payout ratio is currently 90.17%.

Wall Street Analyst Weigh In

Several research firms have weighed in on CPB. Citigroup reduced their price objective on shares of Campbell's from $39.00 to $37.00 and set a "sell" rating for the company in a report on Thursday, March 6th. JPMorgan Chase & Co. lowered Campbell's from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $48.00 to $37.00 in a report on Thursday, March 6th. DA Davidson lowered their price objective on Campbell's from $46.00 to $39.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Jefferies Financial Group lowered their price objective on Campbell's from $42.00 to $40.00 and set a "hold" rating for the company in a research note on Wednesday, March 5th. Finally, UBS Group initiated coverage on Campbell's in a research note on Wednesday. They issued a "sell" rating and a $36.00 price objective for the company. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Campbell's currently has an average rating of "Hold" and a consensus price target of $44.27.

Campbell's Company Profile

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.