Comerica Bank Sells 1,458 Shares of The Campbell’s Company (NASDAQ:CPB)

Comerica Bank trimmed its stake in The Campbell’s Company (NASDAQ:CPB) by 4.7% during the 4th quarter, HoldingsChannel reports. The fund owned 29,645 shares of the company’s stock after selling 1,458 shares during the quarter. Comerica Bank’s holdings in Campbell’s were worth $1,242,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Handelsbanken Fonder AB boosted its holdings in Campbell’s by 161.8% in the fourth quarter. Handelsbanken Fonder AB now owns 186,277 shares of the company’s stock worth $7,801,000 after acquiring an additional 115,122 shares in the last quarter. ING Groep NV bought a new stake in Campbell’s in the fourth quarter worth $1,062,000. Hussman Strategic Advisors Inc. boosted its holdings in Campbell’s by 133.3% in the fourth quarter. Hussman Strategic Advisors Inc. now owns 147,000 shares of the company’s stock worth $6,156,000 after acquiring an additional 84,000 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Campbell’s by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,787,481 shares of the company’s stock worth $74,860,000 after acquiring an additional 21,849 shares in the last quarter. Finally, Smith Group Asset Management LLC bought a new stake in Campbell’s in the fourth quarter worth $293,000. 52.35% of the stock is owned by institutional investors.

Campbell’s Stock Down 0.8%

Campbell’s stock opened at $35.31 on Monday. The stock has a market cap of $10.53 billion, a PE ratio of 19.30, a price-to-earnings-growth ratio of 2.71 and a beta of 0.14. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.50 and a current ratio of 0.91. The Campbell’s Company has a one year low of $35.09 and a one year high of $52.81. The stock has a fifty day moving average of $37.98 and a 200 day moving average of $40.46.

Campbell’s (NASDAQ:CPB) last released its quarterly earnings results on Wednesday, March 5th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. Campbell’s had a return on equity of 23.79% and a net margin of 5.57%. The business had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.74 billion. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. As a group, sell-side analysts predict that The Campbell’s Company will post 3.15 EPS for the current year.

Campbell’s Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Thursday, April 3rd were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 4.42%. The ex-dividend date of this dividend was Thursday, April 3rd. Campbell’s’s dividend payout ratio is presently 90.17%.

Insider Buying and Selling at Campbell’s

In related news, EVP Charles A. Brawley III sold 2,498 shares of the stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $40.03, for a total transaction of $99,994.94. Following the completion of the sale, the executive vice president now 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 SEC, which can be accessed through this hyperlink. 20.19% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CPB has been the subject of several recent analyst reports. Stifel Nicolaus decreased their price target on Campbell’s from $47.00 to $40.00 and set a “hold” rating for the company in a research note on Friday, January 24th. Consumer Edge restated an “equal weight” rating on shares of Campbell’s in a research note on Monday, March 17th. Royal Bank of Canada decreased their price target on Campbell’s from $51.00 to $44.00 and set a “sector perform” rating for the company in a research note on Thursday, March 6th. Citigroup decreased their price target 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. Finally, Bank of America decreased their price target on Campbell’s from $45.00 to $41.00 and set an “underperform” rating for the company in a research note on Thursday, March 6th. 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 company’s stock. Based on data from MarketBeat, Campbell’s currently has an average rating of “Hold” and a consensus target price of $44.27.

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.