The Campbell Soup Company (NASDAQ:CPB) Stake Cut by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC reduced its holdings in The Campbell Soup Company (NASDAQ:CPB) by 29.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,604 shares of the company’s stock after selling 6,438 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Campbell Soup were worth $653,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. ICICI Prudential Asset Management Co Ltd lifted its stake in Campbell Soup by 2.0% in the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 200,045 shares of the company’s stock worth $8,378,000 after acquiring an additional 3,892 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund increased its position in Campbell Soup by 9.0% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 6,359 shares of the company’s stock worth $275,000 after purchasing an additional 525 shares during the last quarter. Venturi Wealth Management LLC increased its position in Campbell Soup by 3,172.6% in the 4th quarter. Venturi Wealth Management LLC now owns 3,698 shares of the company’s stock worth $155,000 after purchasing an additional 3,585 shares during the last quarter. Truist Financial Corp increased its position in Campbell Soup by 4.4% in the 4th quarter. Truist Financial Corp now owns 14,634 shares of the company’s stock worth $613,000 after purchasing an additional 615 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in Campbell Soup by 2.6% in the 4th quarter. CIBC Asset Management Inc now owns 37,426 shares of the company’s stock worth $1,567,000 after purchasing an additional 939 shares during the last quarter. 52.35% of the stock is owned by hedge funds and other institutional investors.

Campbell Soup Stock Performance

CPB opened at $40.59 on Friday. The firm has a market capitalization of $12.10 billion, a P/E ratio of 22.18, a price-to-earnings-growth ratio of 2.66 and a beta of 0.19. The stock’s 50 day moving average price is $39.65 and its two-hundred day moving average price is $44.90. 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 Soup Company has a 12-month low of $36.92 and a 12-month high of $52.81.

Campbell Soup (NASDAQ:CPB) last released its earnings results on Tuesday, December 3rd. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.02. Campbell Soup had a return on equity of 23.79% and a net margin of 5.57%. On average, equities analysts forecast that The Campbell Soup Company will post 3.15 earnings per share for the current year.

Campbell Soup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Thursday, January 2nd were issued a $0.39 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $1.56 dividend on an annualized basis and a yield of 3.84%. This is a positive change from Campbell Soup’s previous quarterly dividend of $0.37. Campbell Soup’s dividend payout ratio (DPR) is 85.25%.

Insider Buying and Selling at Campbell Soup

In other Campbell Soup news, EVP Anthony Sanzio sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $41.90, for a total value of $83,800.00. Following the completion of the sale, the executive vice president now owns 16,551 shares in the company, valued at approximately $693,486.90. This trade represents a 10.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 20.19% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Stifel Nicolaus dropped their target price on Campbell Soup from $47.00 to $40.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. Barclays dropped their target price on Campbell Soup from $49.00 to $46.00 and set an “underweight” rating on the stock in a research report on Friday, December 6th. Citigroup dropped their target price on Campbell Soup from $44.00 to $41.00 and set a “sell” rating on the stock in a research report on Thursday, December 5th. Stephens reaffirmed an “overweight” rating on shares of Campbell Soup in a research report on Wednesday, December 4th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $51.00 target price on shares of Campbell Soup in a research report on Monday, December 2nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $50.17.

Campbell Soup Company Profile

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.