Renaissance Technologies LLC Sells 375,321 Shares of The Campbell Soup Company (NASDAQ:CPB)

Renaissance Technologies LLC cut its position in shares of The Campbell Soup Company (NASDAQ:CPB - Free Report) by 15.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,073,927 shares of the company's stock after selling 375,321 shares during the quarter. Renaissance Technologies LLC owned about 0.70% of Campbell Soup worth $86,856,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ballentine Partners LLC lifted its holdings in shares of Campbell Soup by 2.8% during the fourth quarter. Ballentine Partners LLC now owns 9,646 shares of the company's stock valued at $404,000 after purchasing an additional 262 shares during the last quarter. Principal Securities Inc. boosted its holdings in Campbell Soup by 45.5% in the fourth quarter. Principal Securities Inc. now owns 927 shares of the company's stock worth $39,000 after acquiring an additional 290 shares in the last quarter. SPC Financial Inc. grew its stake in shares of Campbell Soup by 2.3% in the fourth quarter. SPC Financial Inc. now owns 13,575 shares of the company's stock worth $569,000 after acquiring an additional 300 shares during the last quarter. Ascent Wealth Partners LLC raised its position in shares of Campbell Soup by 1.5% in the 4th quarter. Ascent Wealth Partners LLC now owns 20,176 shares of the company's stock worth $845,000 after purchasing an additional 306 shares during the last quarter. Finally, HB Wealth Management LLC boosted its stake in Campbell Soup by 4.3% in the 4th quarter. HB Wealth Management LLC now owns 7,718 shares of the company's stock worth $323,000 after purchasing an additional 319 shares in the last quarter. 52.35% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Insider Buying and Selling

In related news, EVP Charles A. Brawley III sold 2,498 shares of the firm's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $40.03, for a total transaction of $99,994.94. Following the completion of the transaction, the executive vice president now directly owns 37,590 shares of the company's stock, 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 legal filing with the SEC, which is accessible through this link. 20.19% of the stock is currently owned by company insiders.

Campbell Soup Stock Performance

Shares of NASDAQ CPB traded up $0.43 during trading on Monday, hitting $38.57. The company had a trading volume of 611,624 shares, compared to its average volume of 2,753,619. The stock has a 50 day simple moving average of $39.00 and a 200 day simple moving average of $42.03. The firm has a market capitalization of $11.50 billion, a P/E ratio of 21.08, a price-to-earnings-growth ratio of 2.71 and a beta of 0.19. 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 Soup Company has a 12 month low of $36.02 and a 12 month high of $52.81.

Campbell Soup (NASDAQ:CPB - Get Free Report) last posted its quarterly earnings results on Wednesday, March 5th. The company reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.01. The business had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.74 billion. Campbell Soup had a net margin of 5.57% and a return on equity of 23.79%. Campbell Soup's revenue was up 9.3% on a year-over-year basis. As a group, analysts anticipate that The Campbell Soup Company will post 3.15 earnings per share for the current year.

Campbell Soup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Thursday, April 3rd will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend is Thursday, April 3rd. Campbell Soup's dividend payout ratio (DPR) is 90.17%.

Analyst Ratings Changes

Several research analysts have issued reports on CPB shares. Wells Fargo & Company decreased their target price on shares of Campbell Soup from $43.00 to $40.00 and set an "equal weight" rating for the company in a report on Thursday, March 6th. Consumer Edge reiterated an "equal weight" rating on shares of Campbell Soup in a research note on Monday, March 17th. Jefferies Financial Group decreased their price target on Campbell Soup from $42.00 to $40.00 and set a "hold" rating for the company in a research note on Wednesday, March 5th. Stifel Nicolaus lowered their price target on Campbell Soup from $47.00 to $40.00 and set a "hold" rating on the stock in a report on Friday, January 24th. Finally, DA Davidson lowered their target price on shares of Campbell Soup from $46.00 to $39.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $44.86.

Campbell Soup 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.