Envestnet Asset Management Inc. Trims Stake in The Campbell's Company (NASDAQ:CPB)

Envestnet Asset Management Inc. cut its holdings in The Campbell's Company (NASDAQ:CPB - Free Report) by 12.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 139,028 shares of the company's stock after selling 20,607 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Campbell's were worth $5,823,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Sherman Asset Management Inc. acquired a new position in shares of Campbell's during the 4th quarter worth approximately $36,000. Principal Securities Inc. lifted its holdings in shares of Campbell's by 45.5% in the 4th quarter. Principal Securities Inc. now owns 927 shares of the company's stock worth $39,000 after acquiring an additional 290 shares during the last quarter. Kentucky Trust Co purchased a new position in shares of Campbell's during the 4th quarter worth approximately $42,000. Quent Capital LLC raised its position 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 during the period. Finally, Stonebridge Financial Group LLC acquired a new position in Campbell's during the fourth quarter worth $47,000. 52.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CPB shares. UBS Group started coverage on Campbell's in a report on Wednesday. They issued a "sell" rating and a $36.00 price objective on the stock. Bank of America cut their target price on shares of Campbell's from $45.00 to $41.00 and set an "underperform" rating on the stock in a research note on Thursday, March 6th. Stifel Nicolaus decreased their price target on shares of Campbell's from $47.00 to $40.00 and set a "hold" rating for the company in a research report on Friday, January 24th. Royal Bank of Canada cut their price objective on Campbell's from $51.00 to $44.00 and set a "sector perform" rating on the stock in a research report on Thursday, March 6th. Finally, Citigroup lowered their target price on Campbell's from $39.00 to $37.00 and set a "sell" rating for the company in a research note on Thursday, March 6th. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $44.27.

Insiders Place Their Bets

In other news, EVP Charles A. Brawley III sold 2,498 shares of the stock in a transaction dated Monday, March 31st. The shares were 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 owns 37,590 shares in the company, valued at $1,504,727.70. This trade represents a 6.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 20.19% of the stock is currently owned by company insiders.

Campbell's Stock Performance

Shares of CPB traded down $0.50 during mid-day trading on Friday, hitting $36.22. 1,457,432 shares of the company's stock were exchanged, compared to its average volume of 2,758,099. The company has a current ratio of 0.91, a quick ratio of 0.50 and a debt-to-equity ratio of 1.74. The business's 50 day moving average is $38.97 and its two-hundred day moving average is $41.54. The Campbell's Company has a fifty-two week low of $35.86 and a fifty-two week high of $52.81. The firm has a market capitalization of $10.80 billion, a P/E ratio of 19.79, a P/E/G ratio of 2.71 and a beta of 0.19.

Campbell's (NASDAQ:CPB - Get Free Report) last announced its quarterly earnings data on Wednesday, March 5th. The company reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.01. The company had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.74 billion. Campbell's had a net margin of 5.57% and a return on equity of 23.79%. The company'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 disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Thursday, April 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 4.31%. The ex-dividend date is Thursday, April 3rd. Campbell's's dividend payout ratio is presently 90.17%.

Campbell's 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.