Analysts predict that Campbell Soup (NYSE:CPB) will announce sales of $2.19 billion for the current quarter, Zacks reports. Three analysts have issued estimates for Campbell Soup’s earnings. The lowest sales estimate is $2.16 billion and the highest is $2.21 billion. Campbell Soup posted sales of $2.69 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 18.6%. The company is scheduled to announce its next earnings report before the market opens on Wednesday, December 4th.
According to Zacks, analysts expect that Campbell Soup will report full-year sales of $8.25 billion for the current fiscal year, with estimates ranging from $8.16 billion to $8.31 billion. For the next financial year, analysts forecast that the business will report sales of $8.21 billion, with estimates ranging from $8.06 billion to $8.31 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Campbell Soup.
CPB has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price objective on Campbell Soup from $41.00 to $48.00 in a report on Tuesday, September 3rd. Wells Fargo & Co reissued a “hold” rating and set a $45.00 price objective on shares of Campbell Soup in a report on Friday, August 30th. ValuEngine downgraded Campbell Soup from a “hold” rating to a “sell” rating in a report on Tuesday, November 26th. Bank of America raised their price objective on Campbell Soup from $36.00 to $40.00 and gave the company an “underperform” rating in a report on Tuesday, September 3rd. Finally, Piper Jaffray Companies raised Campbell Soup from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $40.00 to $45.00 in a report on Tuesday, September 3rd. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $43.82.
In related news, SVP Adam G. Ciongoli sold 16,096 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $47.16, for a total transaction of $759,087.36. Following the completion of the transaction, the senior vice president now directly owns 70,984 shares of the company’s stock, valued at approximately $3,347,605.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 36.48% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Campbell Soup by 4.6% during the 2nd quarter. Vanguard Group Inc. now owns 20,494,448 shares of the company’s stock worth $821,213,000 after purchasing an additional 893,192 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Campbell Soup by 34.6% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 5,079,326 shares of the company’s stock worth $203,529,000 after acquiring an additional 1,306,435 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Campbell Soup by 0.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,959,470 shares of the company’s stock worth $198,726,000 after acquiring an additional 43,038 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Campbell Soup by 3.7% in the 2nd quarter. Van ECK Associates Corp now owns 1,448,903 shares of the company’s stock worth $58,058,000 after acquiring an additional 52,177 shares in the last quarter. Finally, California Public Employees Retirement System raised its position in shares of Campbell Soup by 2.0% in the 3rd quarter. California Public Employees Retirement System now owns 1,403,270 shares of the company’s stock worth $65,841,000 after acquiring an additional 27,443 shares in the last quarter. 50.88% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE CPB traded up $0.89 during mid-day trading on Friday, hitting $48.47. 5,655,679 shares of the stock traded hands, compared to its average volume of 2,320,630. The company has a debt-to-equity ratio of 6.39, a current ratio of 0.58 and a quick ratio of 0.33. Campbell Soup has a twelve month low of $32.03 and a twelve month high of $48.89. The company has a market cap of $14.03 billion, a PE ratio of 21.07, a price-to-earnings-growth ratio of 3.11 and a beta of 0.42. The firm has a 50 day simple moving average of $46.94 and a two-hundred day simple moving average of $43.60.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Wednesday, January 8th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend is Tuesday, January 7th. Campbell Soup’s dividend payout ratio is currently 60.87%.
About Campbell Soup
Campbell Soup Company, together with its subsidiaries, manufactures and markets branded 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 products; Plum food and snack products; V8 juices and beverages; Campbell's tomato juices; and Pacific broth, soups, non-dairy beverages, and other simple meals.
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