Brokerages predict that Campbell Soup (NYSE:CPB) will report sales of $1.96 billion for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Campbell Soup’s earnings, with the lowest sales estimate coming in at $1.89 billion and the highest estimate coming in at $2.09 billion. Campbell Soup reported sales of $1.85 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.9%. The business is scheduled to issue its next earnings report on Friday, May 18th.
According to Zacks, analysts expect that Campbell Soup will report full year sales of $1.96 billion for the current fiscal year, with estimates ranging from $7.92 billion to $8.52 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $8.10 billion per share, with estimates ranging from $8.08 billion to $8.12 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Campbell Soup.
Campbell Soup (NYSE:CPB) last released its quarterly earnings data on Friday, February 16th. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.19. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.16 billion. Campbell Soup had a return on equity of 54.10% and a net margin of 13.41%. The company’s quarterly revenue was up .4% compared to the same quarter last year. During the same period last year, the business posted $0.91 EPS.
A number of equities analysts have recently commented on the company. Royal Bank of Canada cut their price objective on Campbell Soup from $56.00 to $55.00 and set a “sector perform” rating on the stock in a report on Monday, November 20th. Citigroup restated a “neutral” rating and issued a $54.00 price objective (up from $50.00) on shares of Campbell Soup in a report on Wednesday, December 20th. JPMorgan Chase & Co. reiterated a “hold” rating and issued a $50.00 target price on shares of Campbell Soup in a research note on Friday, December 15th. Zacks Investment Research upgraded Campbell Soup from a “sell” rating to a “hold” rating in a research note on Tuesday, January 23rd. Finally, Wolfe Research assumed coverage on Campbell Soup in a research note on Friday, January 26th. They issued a “market perform” rating for the company. Seven investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $50.27.
In other Campbell Soup news, Director Randall W. Larrimore sold 2,242 shares of the firm’s stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $48.69, for a total transaction of $109,162.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Luca Mignini acquired 4,400 shares of the stock in a transaction on Wednesday, February 21st. The shares were acquired at an average price of $45.53 per share, with a total value of $200,332.00. Following the purchase, the insider now owns 87,814 shares in the company, valued at $3,998,171.42. The disclosure for this purchase can be found here. In the last quarter, insiders sold 15,284 shares of company stock valued at $741,399. Insiders own 37.20% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Whittier Trust Co. of Nevada Inc. grew its stake in Campbell Soup by 199.8% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 2,998 shares of the company’s stock valued at $144,000 after purchasing an additional 1,998 shares in the last quarter. Cordasco Financial Network acquired a new stake in Campbell Soup during the 4th quarter valued at approximately $144,000. First Personal Financial Services grew its stake in Campbell Soup by 44.0% during the 4th quarter. First Personal Financial Services now owns 3,856 shares of the company’s stock valued at $186,000 after purchasing an additional 1,179 shares in the last quarter. Confluence Wealth Management LLC acquired a new stake in Campbell Soup during the 4th quarter valued at approximately $207,000. Finally, Cypress Wealth Services LLC acquired a new stake in Campbell Soup during the 4th quarter valued at approximately $208,000. Hedge funds and other institutional investors own 50.21% of the company’s stock.
Campbell Soup stock opened at $43.58 on Monday. The company has a market capitalization of $13,100.45, a PE ratio of 12.52, a PEG ratio of 2.66 and a beta of 0.38. The company has a quick ratio of 0.35, a current ratio of 0.64 and a debt-to-equity ratio of 1.15. Campbell Soup has a twelve month low of $41.78 and a twelve month high of $59.34.
Campbell Soup announced that its board has initiated a share repurchase plan on Monday, December 18th that authorizes the company to repurchase shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
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Campbell Soup Company Profile
Campbell Soup Company, together with its subsidiaries, manufactures and markets food and beverage products. It operates through three segments: Americas Simple Meals and Beverages; Global Biscuits and Snacks; and Campbell Fresh. The Americas Simple Meals and Beverages segment engages in the retail and food service of Campbell's condensed and ready-to-serve soups; Swanson broth and stocks; Prego pasta sauces; Pace Mexican sauces; Campbell's gravies, pastas, beans, and dinner sauces; Swanson canned poultry; Plum food and snacks; V8 juices and beverages; and Campbell's tomato juices.
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