Campbell Soup (NYSE:CPB) – Jefferies Financial Group lowered their Q1 2022 earnings per share (EPS) estimates for Campbell Soup in a research report issued on Wednesday, June 9th. Jefferies Financial Group analyst R. Dickerson now expects that the company will earn $0.86 per share for the quarter, down from their previous forecast of $0.92. Jefferies Financial Group currently has a “Hold” rating and a $54.00 target price on the stock. Jefferies Financial Group also issued estimates for Campbell Soup’s Q2 2022 earnings at $0.81 EPS, Q3 2022 earnings at $0.70 EPS, Q1 2023 earnings at $0.93 EPS, Q3 2023 earnings at $0.78 EPS and FY2023 earnings at $3.25 EPS.
Several other analysts have also commented on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Campbell Soup from $52.00 to $50.00 and set a “hold” rating for the company in a report on Thursday, February 25th. Piper Sandler lowered their price objective on shares of Campbell Soup from $57.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday. Morgan Stanley lowered their price objective on shares of Campbell Soup from $50.00 to $48.00 and set an “equal weight” rating for the company in a report on Thursday. Finally, Credit Suisse Group lowered their price objective on shares of Campbell Soup from $47.00 to $46.00 and set a “neutral” rating for the company in a report on Thursday. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $49.70.
Campbell Soup (NYSE:CPB) last posted its earnings results on Tuesday, June 8th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.09). The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $2.01 billion. Campbell Soup had a return on equity of 37.35% and a net margin of 9.01%. The firm’s revenue for the quarter was down 11.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.83 earnings per share.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 2nd. Stockholders of record on Wednesday, July 14th will be issued a dividend of $0.37 per share. The ex-dividend date is Tuesday, July 13th. This represents a $1.48 annualized dividend and a dividend yield of 3.24%. Campbell Soup’s payout ratio is 50.17%.
In other news, EVP Craig Slavtcheff sold 7,000 shares of Campbell Soup stock in a transaction that occurred on Wednesday, March 17th. The shares were sold at an average price of $48.88, for a total transaction of $342,160.00. Following the completion of the transaction, the executive vice president now directly owns 36,810 shares in the company, valued at $1,799,272.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 35.64% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in CPB. Assenagon Asset Management S.A. raised its holdings in Campbell Soup by 32.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 7,992 shares of the company’s stock worth $386,000 after acquiring an additional 1,971 shares during the last quarter. AE Wealth Management LLC raised its holdings in Campbell Soup by 8.7% in the 4th quarter. AE Wealth Management LLC now owns 6,396 shares of the company’s stock worth $309,000 after acquiring an additional 510 shares during the last quarter. California Public Employees Retirement System raised its holdings in Campbell Soup by 0.7% in the 4th quarter. California Public Employees Retirement System now owns 1,498,644 shares of the company’s stock worth $72,459,000 after acquiring an additional 9,802 shares during the last quarter. Treasurer of the State of North Carolina raised its holdings in Campbell Soup by 9.4% in the 4th quarter. Treasurer of the State of North Carolina now owns 134,656 shares of the company’s stock worth $6,511,000 after acquiring an additional 11,620 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in Campbell Soup by 2.2% in the 4th quarter. Daiwa Securities Group Inc. now owns 17,926 shares of the company’s stock worth $867,000 after acquiring an additional 379 shares during the last quarter. Institutional investors own 52.92% of the company’s stock.
About Campbell Soup
Campbell Soup Company, together with its subsidiaries, engages in the manufacture and market food and beverage products. It operates through Meals & Beverages and Snacks segments. The Meals & Beverages segment engages in the retail and foodservice businesses in the United States and Canada. This segment provides Campbell's condensed and ready-to-serve soups; Swanson broth and stocks; Pacific Foods broth, soups, and non-dairy beverages; Prego pasta sauces; Pace Mexican sauces; Campbell's gravies, pasta, beans, and dinner sauces; Swanson canned poultry; Plum baby food and snacks; V8 juices and beverages; V8 juices and beverages; and Campbell's tomato juice.
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