Campbell Soup (NYSE:CPB) released its quarterly earnings data on Friday. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.10, Bloomberg Earnings reports. The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. Campbell Soup had a net margin of 13.41% and a return on equity of 54.10%. Campbell Soup’s revenue was up 14.7% compared to the same quarter last year. During the same period last year, the business earned $0.59 EPS. Campbell Soup updated its FY18 guidance to $2.85-2.90 EPS.
Shares of CPB stock opened at $34.37 on Friday. Campbell Soup has a 52 week low of $34.09 and a 52 week high of $59.14. The company has a market capitalization of $10.33 billion, a PE ratio of 11.31, a P/E/G ratio of 1.96 and a beta of 0.33. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.64 and a quick ratio of 0.35.
The business also recently declared a quarterly dividend, which was paid on Monday, April 30th. Stockholders of record on Wednesday, April 11th were paid a $0.35 dividend. The ex-dividend date was Tuesday, April 10th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.07%. Campbell Soup’s dividend payout ratio is presently 46.05%.
Several hedge funds have recently made changes to their positions in CPB. Rational Advisors LLC bought a new stake in Campbell Soup during the first quarter valued at approximately $463,000. CIBC World Markets Inc. grew its position in Campbell Soup by 236.6% during the first quarter. CIBC World Markets Inc. now owns 41,623 shares of the company’s stock valued at $1,803,000 after buying an additional 29,257 shares during the period. Royal Bank of Canada grew its position in Campbell Soup by 16.1% during the first quarter. Royal Bank of Canada now owns 459,970 shares of the company’s stock valued at $19,919,000 after buying an additional 63,806 shares during the period. Legal & General Group Plc grew its position in Campbell Soup by 4.1% during the first quarter. Legal & General Group Plc now owns 1,127,584 shares of the company’s stock valued at $48,844,000 after buying an additional 44,001 shares during the period. Finally, PVG Asset Management Corp bought a new stake in Campbell Soup during the first quarter valued at approximately $2,811,000. Hedge funds and other institutional investors own 50.18% of the company’s stock.
A number of analysts have weighed in on CPB shares. Piper Jaffray set a $43.00 price objective on shares of Campbell Soup and gave the company a “sell” rating in a research note on Wednesday, April 18th. Zacks Investment Research lowered shares of Campbell Soup from a “buy” rating to a “hold” rating in a research note on Wednesday. Goldman Sachs restated a “sell” rating and set a $43.00 price objective on shares of Campbell Soup in a research note on Friday, April 13th. Credit Suisse Group set a $38.00 price objective on shares of Campbell Soup and gave the company a “hold” rating in a research note on Tuesday, May 15th. Finally, Morgan Stanley reduced their price objective on shares of Campbell Soup from $49.00 to $46.00 and set an “underweight” rating for the company in a research note on Tuesday, February 20th. Seven investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. Campbell Soup presently has a consensus rating of “Hold” and an average price target of $47.82.
About Campbell Soup
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; and Campbell's tomato juices in the United States, Canada, and Latin America.
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