Analysts forecast that Campbell Soup (NYSE:CPB) will post earnings of $0.62 per share for the current quarter, Zacks reports. Three analysts have made estimates for Campbell Soup’s earnings. The highest EPS estimate is $0.65 and the lowest is $0.60. Campbell Soup reported earnings per share of $0.59 during the same quarter last year, which suggests a positive year over year growth rate of 5.1%. The business is scheduled to report its next earnings report on Friday, May 18th.
On average, analysts expect that Campbell Soup will report full year earnings of $3.10 per share for the current year, with EPS estimates ranging from $2.97 to $3.17. For the next fiscal year, analysts anticipate that the business will report earnings of $3.21 per share, with EPS estimates ranging from $3.07 to $3.37. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Campbell Soup.
Campbell Soup (NYSE:CPB) last issued its quarterly earnings results on Friday, February 16th. The company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.19. The firm had revenue of $2.18 billion during 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%. Campbell Soup’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.91 earnings per share.
A number of research analysts recently commented on the company. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $48.00 price target (down previously from $50.00) on shares of Campbell Soup in a report on Tuesday, February 20th. Wolfe Research began coverage on Campbell Soup in a research note on Friday, January 26th. They set a “market perform” rating on the stock. Zacks Investment Research upgraded Campbell Soup from a “sell” rating to a “hold” rating in a research note on Tuesday, January 23rd. Morgan Stanley cut their price objective on Campbell Soup from $49.00 to $46.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 20th. Finally, Piper Jaffray Companies cut Campbell Soup from a “neutral” rating to an “underweight” rating and set a $59.00 price objective on the stock. in a research note on Wednesday, February 28th. Seven research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $50.27.
In other news, SVP Carlos Barroso sold 4,300 shares of the stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $48.86, for a total transaction of $210,098.00. Following the sale, the senior vice president now directly owns 29,119 shares in the company, valued at approximately $1,422,754.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Edward Carolan sold 6,500 shares of the stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $48.15, for a total value of $312,975.00. Following the sale, the insider now owns 41,506 shares in the company, valued at $1,998,513.90. The disclosure for this sale can be found here. Insiders have sold a total of 15,284 shares of company stock worth $741,399 over the last quarter. Insiders own 37.20% of the company’s stock.
Several institutional investors have recently made changes to their positions in CPB. Nationwide Fund Advisors raised its position in shares of Campbell Soup by 191.7% during the 3rd quarter. Nationwide Fund Advisors now owns 157,856 shares of the company’s stock worth $7,391,000 after purchasing an additional 103,734 shares during the period. Jennison Associates LLC acquired a new stake in shares of Campbell Soup during the 3rd quarter worth approximately $1,849,000. Global X MANAGEMENT CO LLC raised its position in shares of Campbell Soup by 22.3% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 13,407 shares of the company’s stock worth $628,000 after purchasing an additional 2,443 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Campbell Soup by 46.5% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 148,783 shares of the company’s stock worth $6,966,000 after purchasing an additional 47,250 shares during the period. Finally, Sei Investments Co. raised its position in shares of Campbell Soup by 202.4% during the 3rd quarter. Sei Investments Co. now owns 40,967 shares of the company’s stock worth $1,919,000 after purchasing an additional 27,421 shares during the period. Institutional investors and hedge funds own 50.19% of the company’s stock.
Campbell Soup (CPB) opened at $43.60 on Friday. The company has a market capitalization of $13,100.45, a PE ratio of 12.53, a P/E/G ratio of 2.66 and a beta of 0.38. Campbell Soup has a 1-year low of $41.78 and a 1-year high of $59.34. 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 announced that its Board of Directors has authorized a share repurchase program on Monday, December 18th that authorizes the company to buyback outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.
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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