M&T Bank Corp Sells 18,512 Shares of The Campbell’s Company (NASDAQ:CPB)

M&T Bank Corp trimmed its position in The Campbell’s Company (NASDAQ:CPB) by 45.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,848 shares of the company’s stock after selling 18,512 shares during the quarter. M&T Bank Corp’s holdings in Campbell’s were worth $872,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CPB. NBC Securities Inc. bought a new stake in shares of Campbell’s in the 1st quarter worth about $31,000. Riverview Trust Co purchased a new position in Campbell’s in the first quarter worth about $46,000. Physician Wealth Advisors Inc. bought a new stake in Campbell’s during the fourth quarter worth approximately $47,000. Curat Global LLC purchased a new stake in Campbell’s during the first quarter valued at approximately $58,000. Finally, Canada Post Corp Registered Pension Plan bought a new stake in shares of Campbell’s in the 4th quarter valued at approximately $59,000. 52.35% of the stock is owned by institutional investors.

Campbell’s Trading Down 1.7%

CPB opened at $30.71 on Tuesday. The Campbell’s Company has a 52 week low of $29.39 and a 52 week high of $52.81. The company has a market capitalization of $9.16 billion, a P/E ratio of 20.34, a PEG ratio of 9.12 and a beta of 0.08. The stock’s fifty day moving average is $33.26 and its two-hundred day moving average is $36.89. The company has a quick ratio of 0.33, a current ratio of 0.78 and a debt-to-equity ratio of 1.57.

Campbell’s (NASDAQ:CPB) last announced 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 return on equity of 23.22% and a net margin of 4.44%. The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter last year, the firm posted $0.75 earnings per share. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. Analysts forecast that The Campbell’s Company will post 3.15 earnings per share for the current year.

Campbell’s Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 4th. Stockholders of record on Thursday, July 3rd will be issued a $0.39 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.56 annualized dividend and a dividend yield of 5.08%. Campbell’s’s dividend payout ratio is currently 103.31%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CPB. Morgan Stanley cut their target price on Campbell’s from $40.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 3rd. Evercore ISI cut their price objective on shares of Campbell’s from $46.00 to $41.00 and set an “in-line” rating on the stock in a research report on Thursday, May 29th. UBS Group initiated coverage on shares of Campbell’s in a research note on Wednesday, April 23rd. They issued a “sell” rating and a $36.00 target price on the stock. Bank of America dropped their price target on shares of Campbell’s from $37.00 to $33.00 and set an “underperform” rating for the company in a research note on Tuesday, June 3rd. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Campbell’s from $43.00 to $39.00 and set a “hold” rating on the stock in a report on Wednesday, May 21st. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $39.72.

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.