Analysts expect Campbell Soup (NYSE:CPB) to post $2.19 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided 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 in the same quarter last year, which suggests a negative year-over-year growth rate of 18.6%. The firm is expected to report its next quarterly earnings results before the market opens on Wednesday, December 4th.
On average, analysts expect that Campbell Soup will report full-year sales of $8.25 billion for the current financial year, with estimates ranging from $8.16 billion to $8.31 billion. For the next financial year, analysts anticipate that the firm will report sales of $8.21 billion, with estimates ranging from $8.06 billion to $8.31 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Campbell Soup.
CPB has been the topic of several recent analyst reports. ValuEngine downgraded shares of Campbell Soup from a “hold” rating to a “sell” rating in a report on Tuesday, November 26th. Piper Jaffray Companies raised shares of Campbell Soup from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $40.00 to $45.00 in a report on Tuesday, September 3rd. Royal Bank of Canada initiated coverage on shares of Campbell Soup in a report on Thursday, October 17th. They set an “outperform” rating and a $55.00 price objective on the stock. Citigroup increased their price objective on shares of Campbell Soup from $48.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Finally, Bank of America increased their price objective on shares of Campbell Soup from $36.00 to $40.00 and gave the company an “underperform” rating in a report on Tuesday, September 3rd. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. Campbell Soup 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 dated Monday, September 30th. The shares were sold at an average price of $47.16, for a total transaction of $759,087.36. Following the completion of the sale, the senior vice president now directly owns 70,984 shares in the company, valued at $3,347,605.44. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 36.48% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the business. Maverick Capital Ltd. purchased a new position in Campbell Soup during the third quarter worth about $3,537,000. Man Group plc boosted its stake in shares of Campbell Soup by 57.6% in the third quarter. Man Group plc now owns 497,830 shares of the company’s stock valued at $23,358,000 after purchasing an additional 181,940 shares during the period. Amussen Hunsaker Associates LLC purchased a new position in shares of Campbell Soup in the third quarter valued at approximately $225,000. Public Employees Retirement System of Ohio boosted its stake in shares of Campbell Soup by 2.4% in the third quarter. Public Employees Retirement System of Ohio now owns 58,304 shares of the company’s stock valued at $2,736,000 after purchasing an additional 1,349 shares during the period. Finally, Sunbelt Securities Inc. purchased a new position in shares of Campbell Soup in the third quarter valued at approximately $309,000. 50.88% of the stock is owned by institutional investors.
NYSE CPB traded up $0.89 during mid-day trading on Friday, reaching $48.47. 5,655,679 shares of the stock were exchanged, compared to its average volume of 2,320,630. The business’s 50 day moving average is $46.94 and its 200-day moving average is $43.60. Campbell Soup has a 1 year low of $32.03 and a 1 year high of $48.89. The company has a market capitalization of $14.03 billion, a P/E ratio of 21.07, a P/E/G ratio of 3.11 and a beta of 0.42. The company has a debt-to-equity ratio of 6.39, a quick ratio of 0.33 and a current ratio of 0.58.
The company also recently disclosed 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 payout ratio is currently 60.87%.
Campbell Soup Company Profile
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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