Campbell Soup (CPB) Releases Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Campbell Soup (NYSE:CPB) issued its quarterly earnings results on Friday. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.10, Bloomberg Earnings reports. Campbell Soup had a return on equity of 54.10% and a net margin of 13.41%. The firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period last year, the company earned $0.59 earnings per share. The company’s revenue was up 14.7% on a year-over-year basis. Campbell Soup updated its FY18 guidance to $2.85-2.90 EPS.

Campbell Soup opened at $34.37 on Friday, according to Marketbeat Ratings. Campbell Soup has a one year low of $34.09 and a one year high of $59.14. The stock has a market capitalization of $10.33 billion, a P/E ratio of 10.95, a price-to-earnings-growth ratio of 1.96 and a beta of 0.33. The company has a quick ratio of 0.35, a current ratio of 0.64 and a debt-to-equity ratio of 1.15.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 30th. Investors of record on Wednesday, April 11th were issued a $0.35 dividend. The ex-dividend date of this dividend was Tuesday, April 10th. This represents a $1.40 annualized dividend and a yield of 4.07%. Campbell Soup’s payout ratio is 46.05%.

Several brokerages have recently weighed in on CPB. JPMorgan Chase restated an “overweight” rating and set a $48.00 price target (down from $50.00) on shares of Campbell Soup in a report on Tuesday, February 20th. ValuEngine downgraded Campbell Soup from a “hold” rating to a “sell” rating in a report on Wednesday, April 18th. Wolfe Research began coverage on Campbell Soup in a report on Friday, January 26th. They set a “market perform” rating for the company. Zacks Investment Research upgraded Campbell Soup from a “sell” rating to a “hold” rating in a report on Tuesday, January 23rd. Finally, Credit Suisse Group restated an “underperform” rating and set a $40.00 price target on shares of Campbell Soup in a report on Monday, April 16th. Seven research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $47.82.

In other Campbell Soup news, insider Luca Mignini acquired 4,400 shares of Campbell Soup stock in a transaction that occurred on Wednesday, February 21st. The stock was bought at an average cost of $45.53 per share, for a total transaction of $200,332.00. Following the acquisition, the insider now owns 87,814 shares of the company’s stock, valued at $3,998,171.42. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 37.20% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Whittier Trust Co. increased its holdings in Campbell Soup by 180.0% in the 1st quarter. Whittier Trust Co. now owns 2,800 shares of the company’s stock worth $121,000 after buying an additional 1,800 shares in the last quarter. Cordasco Financial Network bought a new stake in Campbell Soup in the 4th quarter worth about $144,000. Whittier Trust Co. of Nevada Inc. increased its holdings in Campbell Soup by 199.8% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 2,998 shares of the company’s stock worth $144,000 after buying an additional 1,998 shares in the last quarter. First Personal Financial Services increased its holdings in Campbell Soup by 44.0% in the 4th quarter. First Personal Financial Services now owns 3,856 shares of the company’s stock worth $186,000 after buying an additional 1,179 shares in the last quarter. Finally, Confluence Wealth Management LLC bought a new stake in Campbell Soup in the 4th quarter worth about $207,000. Institutional investors own 50.18% of the company’s stock.

Campbell Soup Company Profile

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.

Earnings History for Campbell Soup (NYSE:CPB)

Receive News & Ratings for Campbell Soup Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Campbell Soup and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply