Campbell Soup (NYSE:CPB)’s stock price hit 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 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.07. Campbell Soup had a net margin of 2.25% and a return on equity of 62.59%. The firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter in the prior year, the business earned $0.79 EPS. The business’s quarterly revenue was down .9% on a year-over-year basis.
The firm also recently announced 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. The ex-dividend date is Tuesday, January 7th. This represents a $1.40 annualized dividend and a yield of 2.94%. Campbell Soup’s dividend payout ratio (DPR) is 60.87%.
Several research analysts have weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Campbell Soup from $41.00 to $48.00 in a research report on Tuesday, September 3rd. UBS Group boosted their price objective on shares of Campbell Soup to $41.00 in a research report on Thursday. They noted that the move was a valuation call. Bank of America boosted their price objective on shares of Campbell Soup from $36.00 to $40.00 and gave the company an “underperform” rating in a research report on Tuesday, September 3rd. Piper Jaffray Companies upgraded Campbell Soup from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $40.00 to $45.00 in a research note on Tuesday, September 3rd. Finally, Wells Fargo & Co raised their target price on Campbell Soup from $45.00 to $48.00 and gave the stock a “market perform” rating in a report on Thursday. Five analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. Campbell Soup has a consensus rating of “Hold” and a consensus price target of $45.18.
In other news, SVP Adam G. Ciongoli sold 16,096 shares of the stock in a transaction on Monday, September 30th. The shares were sold at an average price of $47.16, for a total value of $759,087.36. Following the completion of the sale, the senior vice president now directly owns 70,984 shares of the company’s stock, valued at $3,347,605.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 36.48% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. NEXT Financial Group Inc lifted its position in shares of Campbell Soup by 20,350.0% in the second quarter. NEXT Financial Group Inc now owns 2,863 shares of the company’s stock valued at $115,000 after acquiring an additional 2,849 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Campbell Soup by 31.7% during the second quarter. Robeco Institutional Asset Management B.V. now owns 21,044 shares of the company’s stock valued at $844,000 after acquiring an additional 5,070 shares in the last quarter. AE Wealth Management LLC bought a new stake in Campbell Soup in the 2nd quarter valued at $211,000. Daiwa Securities Group Inc. increased its holdings in Campbell Soup by 50.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 25,229 shares of the company’s stock valued at $1,011,000 after acquiring an additional 8,500 shares during the last quarter. Finally, Hartford Investment Management Co. increased its holdings in Campbell Soup by 0.5% in the 2nd quarter. Hartford Investment Management Co. now owns 52,746 shares of the company’s stock valued at $2,114,000 after acquiring an additional 272 shares during the last quarter. Institutional investors own 50.88% of the company’s stock.
The firm’s 50 day simple moving average is $46.99 and its 200 day simple moving average is $43.69. The firm has a market cap of $14.03 billion, a PE ratio of 20.71, a PEG ratio of 3.11 and a beta of 0.42. The company has a current ratio of 0.58, a quick ratio of 0.33 and a debt-to-equity ratio of 6.39.
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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