Campbell Soup (NYSE:CPB) posted its earnings results on Friday. The company reported $1.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.19, Bloomberg Earnings reports. Campbell Soup had a net margin of 11.08% and a return on equity of 56.88%. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the previous year, the firm posted $0.91 EPS. The company’s revenue for the quarter was up .4% compared to the same quarter last year. Campbell Soup updated its FY18 guidance to $3.10-3.17 EPS.
Shares of Campbell Soup (NYSE:CPB) opened at $46.17 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.39. Campbell Soup has a 12 month low of $43.50 and a 12 month high of $60.49. The company has a market cap of $13,879.02, a price-to-earnings ratio of 13.27, a PEG ratio of 3.63 and a beta of 0.32.
In other news, insider Edward Carolan sold 6,500 shares of the company’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $48.15, for a total value of $312,975.00. Following the sale, the insider now directly owns 41,506 shares of the company’s stock, valued at approximately $1,998,513.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Randall W. Larrimore sold 2,242 shares of the company’s stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $48.69, for a total transaction of $109,162.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,284 shares of company stock worth $741,399. Insiders own 37.20% of the company’s stock.
Several large investors have recently bought and sold shares of CPB. Bessemer Group Inc. boosted its stake in shares of Campbell Soup by 80,239.5% in the 3rd quarter. Bessemer Group Inc. now owns 3,445,763 shares of the company’s stock valued at $161,331,000 after purchasing an additional 3,441,474 shares during the last quarter. Beutel Goodman & Co Ltd. bought a new stake in shares of Campbell Soup in the 4th quarter valued at $103,733,000. LSV Asset Management lifted its position in shares of Campbell Soup by 215.7% during the 4th quarter. LSV Asset Management now owns 3,095,193 shares of the company’s stock valued at $148,909,000 after acquiring an additional 2,114,693 shares during the period. APG Asset Management N.V. lifted its position in shares of Campbell Soup by 50.7% during the 3rd quarter. APG Asset Management N.V. now owns 3,545,569 shares of the company’s stock valued at $166,004,000 after acquiring an additional 1,192,900 shares during the period. Finally, Schroder Investment Management Group lifted its position in shares of Campbell Soup by 29.7% during the 4th quarter. Schroder Investment Management Group now owns 4,619,380 shares of the company’s stock valued at $222,238,000 after acquiring an additional 1,058,752 shares during the period. 47.79% of the stock is currently owned by institutional investors.
CPB has been the topic of a number of research reports. Royal Bank of Canada set a $56.00 target price on shares of Campbell Soup and gave the stock a “hold” rating in a report on Wednesday, October 25th. UBS Group reduced their target price on shares of Campbell Soup from $46.00 to $42.00 and set a “sell” rating on the stock in a report on Thursday, November 9th. Credit Suisse Group set a $41.00 target price on shares of Campbell Soup and gave the stock a “sell” rating in a report on Friday, November 24th. Piper Jaffray Companies set a $49.00 target price on shares of Campbell Soup and gave the stock a “hold” rating in a report on Tuesday, November 28th. Finally, Citigroup raised shares of Campbell Soup from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $45.51 to $57.00 in a report on Tuesday, January 16th. Six analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. Campbell Soup currently has a consensus rating of “Hold” and an average price target of $50.08.
Campbell Soup announced that its board has approved a share buyback plan on Monday, December 18th that permits the company to repurchase outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
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About Campbell Soup
Campbell Soup Company is a food company, which manufactures and markets food products. The Company’s segments include Americas Simple Meals and Beverages; Global Biscuits and Snacks, and Campbell Fresh. The Americas Simple Meals and Beverages segment includes the retail and food service channel businesses.
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