Campbell Soup (NYSE:CPB) Reaches New 12-Month High After Better-Than-Expected Earnings

Shares of Campbell Soup (NYSE:CPB) reached a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $48.89 and last traded at $48.35, with a volume of 1375792 shares. The stock had previously closed at $47.58.

The company reported $0.78 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.07. Campbell Soup had a return on equity of 62.59% and a net margin of 2.25%. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the previous year, the company posted $0.79 earnings per share. The business’s revenue for the quarter was down .9% on a year-over-year basis.

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Wednesday, January 8th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, January 7th. This represents a $1.40 dividend on an annualized basis and a yield of 2.94%. Campbell Soup’s dividend payout ratio is currently 60.87%.

Several research analysts have commented on the stock. Royal Bank of Canada reiterated a “buy” rating and set a $55.00 price target on shares of Campbell Soup in a report on Thursday. JPMorgan Chase & Co. raised their price objective on shares of Campbell Soup from $41.00 to $48.00 in a report on Tuesday, September 3rd. Citigroup lifted their price objective on shares of Campbell Soup from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. ValuEngine downgraded shares of Campbell Soup from a “hold” rating to a “sell” rating in a research note on Tuesday, November 26th. Finally, Wells Fargo & Co increased their target price on Campbell Soup from $45.00 to $48.00 and gave the company a “market perform” rating in a report on Thursday. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. Campbell Soup currently has an average rating of “Hold” and a consensus price target of $45.18.

In other Campbell Soup news, SVP Adam G. Ciongoli sold 16,096 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $47.16, for a total transaction of $759,087.36. Following the sale, the senior vice president now owns 70,984 shares of the company’s stock, valued at $3,347,605.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 36.48% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CPB. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Campbell Soup by 0.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 49,030 shares of the company’s stock valued at $2,300,000 after purchasing an additional 212 shares during the last quarter. Courier Capital LLC lifted its stake in Campbell Soup by 4.3% in the third quarter. Courier Capital LLC now owns 6,062 shares of the company’s stock valued at $284,000 after buying an additional 251 shares during the last quarter. Securian Asset Management Inc lifted its stake in Campbell Soup by 1.3% in the second quarter. Securian Asset Management Inc now owns 19,786 shares of the company’s stock valued at $793,000 after buying an additional 257 shares during the last quarter. Advisor Partners LLC boosted its holdings in shares of Campbell Soup by 4.3% in the second quarter. Advisor Partners LLC now owns 6,319 shares of the company’s stock valued at $253,000 after acquiring an additional 259 shares during the period. Finally, Tdam USA Inc. boosted its holdings in shares of Campbell Soup by 2.7% in the second quarter. Tdam USA Inc. now owns 10,039 shares of the company’s stock valued at $402,000 after acquiring an additional 260 shares during the period. Institutional investors own 50.88% of the company’s stock.

The company has a debt-to-equity ratio of 6.39, a current ratio of 0.58 and a quick ratio of 0.33. The firm has a market capitalization of $14.03 billion, a PE ratio of 20.71, a price-to-earnings-growth ratio of 3.11 and a beta of 0.42. The business’s 50-day moving average price is $46.99 and its 200-day moving average price is $43.69.

About Campbell Soup (NYSE:CPB)

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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