Wall Street analysts expect Campbell Soup Company (NYSE:CPB) to post $1.69 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Campbell Soup’s earnings, with the lowest sales estimate coming in at $1.68 billion and the highest estimate coming in at $1.71 billion. Campbell Soup also reported sales of $1.69 billion in the same quarter last year. The firm is expected to report its next earnings results before the market opens on Thursday, August 31st.
According to Zacks, analysts expect that Campbell Soup will report full year sales of $1.69 billion for the current year, with estimates ranging from $7.90 billion to $7.93 billion. For the next fiscal year, analysts forecast that the firm will post sales of $8.02 billion per share, with estimates ranging from $7.88 billion to $8.27 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.
Campbell Soup (NYSE:CPB) last issued its quarterly earnings data on Friday, May 19th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by $0.05. Campbell Soup had a return on equity of 59.83% and a net margin of 6.17%. The business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the previous year, the business posted $0.65 earnings per share. The company’s revenue for the quarter was down .9% on a year-over-year basis.
CPB has been the topic of several research analyst reports. J P Morgan Chase & Co restated a “neutral” rating and issued a $55.00 price objective (down previously from $60.00) on shares of Campbell Soup in a research note on Wednesday, June 28th. Royal Bank Of Canada set a $60.00 target price on Campbell Soup and gave the stock a “hold” rating in a research report on Tuesday, July 18th. Morgan Stanley cut their price objective on Campbell Soup from $55.00 to $52.00 and set an “underweight” rating for the company in a report on Tuesday, July 18th. Credit Suisse Group set a $50.00 price objective on Campbell Soup and gave the company a “sell” rating in a report on Friday, July 7th. Finally, BidaskClub cut Campbell Soup from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. Six analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. Campbell Soup presently has a consensus rating of “Hold” and an average price target of $57.46.
Campbell Soup (NYSE:CPB) opened at 52.00 on Friday. The firm’s 50-day moving average is $54.01 and its 200 day moving average is $57.89. Campbell Soup has a 12 month low of $50.62 and a 12 month high of $64.23. The stock has a market capitalization of $15.76 billion, a P/E ratio of 32.83 and a beta of 0.34.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Thursday, July 13th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, July 11th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.69%. Campbell Soup’s dividend payout ratio (DPR) is presently 88.05%.
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Several hedge funds have recently made changes to their positions in CPB. Huntington National Bank raised its stake in shares of Campbell Soup by 39.0% in the second quarter. Huntington National Bank now owns 9,992 shares of the company’s stock worth $521,000 after buying an additional 2,805 shares during the period. APG Asset Management N.V. raised its stake in shares of Campbell Soup by 2.3% in the second quarter. APG Asset Management N.V. now owns 2,352,669 shares of the company’s stock worth $122,692,000 after buying an additional 52,600 shares during the period. Patriot Wealth Management Inc. raised its stake in shares of Campbell Soup by 3.3% in the second quarter. Patriot Wealth Management Inc. now owns 120,301 shares of the company’s stock worth $6,274,000 after buying an additional 3,816 shares during the period. Bollard Group LLC raised its stake in shares of Campbell Soup by 1.5% in the second quarter. Bollard Group LLC now owns 54,990 shares of the company’s stock worth $2,868,000 after buying an additional 798 shares during the period. Finally, First Quadrant L P CA raised its stake in shares of Campbell Soup by 205,418.1% in the second quarter. First Quadrant L P CA now owns 431,588 shares of the company’s stock worth $22,507,000 after buying an additional 431,378 shares during the period. Institutional investors own 43.92% of the company’s stock.
Campbell Soup Company Profile
Campbell Soup Company is a food company, which manufactures and markets food products. The Company’s segments include Americas Simple Meals and Beverages; Global Biscuits and Snacks, and Campbell Fresh. The Americas Simple Meals and Beverages segment includes the retail and food service channel businesses.
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