M&T Bank Corp Cuts Stock Holdings in The Campbell Soup Company (NASDAQ:CPB)

M&T Bank Corp cut its stake in shares of The Campbell Soup Company (NASDAQ:CPB) by 5.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 40,360 shares of the company’s stock after selling 2,446 shares during the period. M&T Bank Corp’s holdings in Campbell Soup were worth $1,690,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in Campbell Soup in the third quarter valued at $39,000. Sherman Asset Management Inc. purchased a new position in shares of Campbell Soup in the 4th quarter worth about $36,000. Principal Securities Inc. grew its holdings in shares of Campbell Soup by 45.5% during the 4th quarter. Principal Securities Inc. now owns 927 shares of the company’s stock worth $39,000 after purchasing an additional 290 shares during the period. Kentucky Trust Co purchased a new stake in shares of Campbell Soup during the 4th quarter worth about $42,000. Finally, Quent Capital LLC increased its position in Campbell Soup by 77.7% during the 4th quarter. Quent Capital LLC now owns 1,100 shares of the company’s stock worth $46,000 after purchasing an additional 481 shares in the last quarter. 52.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Analyst Ratings Changes

CPB has been the topic of a number of recent research reports. Citigroup reduced their price target on shares of Campbell Soup from $39.00 to $37.00 and set a “sell” rating on the stock in a research report on Thursday. Jefferies Financial Group reduced their target price on shares of Campbell Soup from $42.00 to $40.00 and set a “hold” rating on the stock in a report on Wednesday, March 5th. Stephens reiterated an “overweight” rating on shares of Campbell Soup in a report on Wednesday, December 4th. DA Davidson reissued a “neutral” rating and issued a $51.00 price objective on shares of Campbell Soup in a research report on Wednesday, December 4th. Finally, BNP Paribas raised Campbell Soup to a “strong sell” rating in a research report on Wednesday, February 26th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $46.36.

Campbell Soup Stock Performance

Shares of CPB opened at $41.81 on Monday. The firm has a market cap of $12.47 billion, a price-to-earnings ratio of 22.85, a PEG ratio of 2.71 and a beta of 0.15. 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 business’s 50 day moving average is $39.39 and its two-hundred day moving average is $44.26. The Campbell Soup Company has a 52-week low of $36.92 and a 52-week high of $52.81.

Campbell Soup (NASDAQ:CPB) last posted 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 Soup had a net margin of 5.57% and a return on equity of 23.79%. The firm had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $2.74 billion. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. Analysts forecast that The Campbell Soup Company will post 3.15 EPS for the current fiscal year.

Campbell Soup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.39 per share. The ex-dividend date is Thursday, April 3rd. This represents a $1.56 annualized dividend and a dividend yield of 3.73%. Campbell Soup’s payout ratio is 90.17%.

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.