Campbell Soup Insider Sells $325K in Stock as Shares Fall 33% This Past Year

Charles A. Brawley III, an executive vice president, general counsel, and corporate secretary at Campbell Soup Company (NASDAQ:CPB), directly sold 11,550 shares for $325,075 on Dec. 31, according to a SEC Form 4 filing.

Transaction Summary

Transaction value based on SEC Form 4 reported price ($28.14); post-transaction value based on reported trade price ($28.14).

Key Questions

• How significant was the transaction relative to Brawley's prior trading activity?
  This 11,550-share sale materially exceeded Brawley's previous median sale size of 7,024 shares.
• What proportion of Brawley's holdings did this sale represent?
  The transaction accounted for 20.88% of his direct equity stake, as reported in the Form 4, reducing his position from 55,327 to 43,777 shares.
• Were any indirect holdings or derivative securities involved in the transaction?
  No; all shares sold were from direct ownership with no indirect entities or options exercised in connection with this filing.
• Does the timing or scale of this trade reflect a change in disposition cadence or capacity?
  The sale follows an earlier disposition in March 2025 and, given the reduction in available shares, the increased trade size is explained by decreased remaining capacity rather than an acceleration in selling cadence.

Company Overview

Company Snapshot

• Campbell Soup Company offers a diversified portfolio of packaged foods, including soups, broths, sauces, snacks, bakery products, and beverages under brands such as Campbell's, Swanson, Pepperidge Farm, Goldfish, Snyder's of Hanover, and V8.
• The company generates revenue primarily through the manufacture and sale of branded food and beverage products via retail, foodservice, and e-commerce channels in the United States and internationally.
• It targets mass-market consumers through grocery chains, mass merchandisers, club stores, convenience stores, and online retailers.

Campbell Soup Company is a leading player in the packaged foods sector, operating at scale with over $10 billion in TTM revenue and a broad product lineup spanning meals, snacks, and beverages. The company's strategy focuses on brand strength, product innovation, and distribution breadth to maintain relevance across diverse consumer segments. Its extensive retail relationships and iconic brands provide a competitive edge in the highly competitive consumer defensive industry.

What this transaction means for investors

For long-term investors, insider selling at a consumer staples company matters most when it collides with deteriorating fundamentals. That is the backdrop facing Campbell Soup as its stock has fallen 33% over the past year, badly lagging the S&P 500’s roughly 17% gain. In its most recent quarter, Campbell reported a 3% decline in net sales to $2.7 billion, while adjusted EBIT fell 11% and adjusted EPS slid 13%, reflecting volume pressure, margin compression, and softness across key snack categories.

Against that operating context, Brawley sold 11,550 shares on Dec. 31 at $28.14, totaling about $325,000, according to an SEC filing. The transaction reduced his direct stake by roughly 21%, marking the larger of his two open market sales on record. Brawley has been with Campbell for nearly 10 years, according to his LinkedIn, but only in his current position as executive vice president since late 2023, which is roughly when his ownership was first disclosed.

It’s important to note that Campbell continues to return cash through dividends and buybacks, and it reaffirmed full year guidance, but declining volumes and margin pressure remain unresolved, and investors should certainly keep that in mind.

Glossary

Form 4: A required SEC filing disclosing insider trades of company stock by officers, directors, or major shareholders.
Open-market sale: The sale of securities on a public exchange, rather than through private transactions or company programs.
Direct ownership: Shares held personally by an individual, not through trusts, funds, or other indirect means.
Indirect entities: Organizations or accounts, such as trusts or family partnerships, through which an insider may hold company stock.
Derivative instruments: Financial contracts, like options, whose value is based on the price of an underlying asset.
Disposition: The act of selling or otherwise transferring ownership of an asset, such as company shares.
Insider trading: The buying or selling of a company's stock by its executives, directors, or significant shareholders.
Median sale: The middle value in a series of sale amounts, used to show typical transaction size.
Dividend yield: Annual dividends per share divided by the share price, expressed as a percentage.
Consumer defensive industry: Sector comprising companies that produce essential goods, like food and household products, with stable demand.
Cadence: The frequency or timing pattern of repeated actions, such as stock sales by insiders.
TTM: The 12-month period ending with the most recent quarterly report.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool recommends Campbell's. The Motley Fool has a disclosure policy.