Campbell Soup (NYSE:CPB) Expected to Announce Earnings of $0.69 Per Share

Equities analysts predict that Campbell Soup (NYSE:CPB) will post earnings of $0.69 per share for the current quarter, Zacks reports. Three analysts have issued estimates for Campbell Soup’s earnings, with the lowest EPS estimate coming in at $0.66 and the highest estimate coming in at $0.71. Campbell Soup reported earnings of $0.79 per share during the same quarter last year, which indicates a negative year over year growth rate of 12.7%. The firm is scheduled to issue its next earnings report before the market opens on Wednesday, December 4th.

According to Zacks, analysts expect that Campbell Soup will report full year earnings of $2.52 per share for the current year, with EPS estimates ranging from $2.50 to $2.53. For the next year, analysts anticipate that the company will post earnings of $2.67 per share, with EPS estimates ranging from $2.61 to $2.72. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for Campbell Soup.

A number of brokerages recently commented on CPB. Citigroup boosted their target price on Campbell Soup from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Piper Jaffray Companies raised Campbell Soup from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $40.00 to $45.00 in a research report on Tuesday, September 3rd. Wells Fargo & Co reissued a “hold” rating and set a $45.00 price objective on shares of Campbell Soup in a report on Friday, August 30th. Bank of America boosted their price objective on Campbell Soup from $36.00 to $40.00 and gave the stock an “underperform” rating in a report on Tuesday, September 3rd. Finally, Royal Bank of Canada assumed coverage on Campbell Soup in a report on Thursday, October 17th. They set an “outperform” rating and a $55.00 price objective for the company. Five analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $43.82.

Campbell Soup stock traded up $0.89 during midday trading on Wednesday, reaching $48.47. The stock had a trading volume of 5,655,679 shares, compared to its average volume of 2,320,630. Campbell Soup has a 12 month low of $32.03 and a 12 month high of $48.89. The company has a market capitalization of $14.03 billion, a P/E ratio of 21.07, a PEG ratio of 3.11 and a beta of 0.42. The company has a fifty day moving average price of $46.94 and a two-hundred day moving average price of $43.60. The company has a current ratio of 0.58, a quick ratio of 0.33 and a debt-to-equity ratio of 6.39.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Wednesday, January 8th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend is Tuesday, January 7th. Campbell Soup’s dividend payout ratio is currently 60.87%.

In other Campbell Soup news, SVP Adam G. Ciongoli sold 16,096 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $47.16, for a total transaction 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 approximately $3,347,605.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 36.48% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Commerce Bank grew its holdings in shares of Campbell Soup by 4.8% in the second quarter. Commerce Bank now owns 10,814 shares of the company’s stock valued at $433,000 after acquiring an additional 500 shares in the last quarter. Enlightenment Research LLC bought a new position in shares of Campbell Soup in the second quarter valued at approximately $228,000. Oppenheimer & Co. Inc. grew its holdings in shares of Campbell Soup by 7.4% in the third quarter. Oppenheimer & Co. Inc. now owns 80,227 shares of the company’s stock valued at $3,763,000 after acquiring an additional 5,501 shares in the last quarter. Trexquant Investment LP bought a new position in shares of Campbell Soup in the second quarter valued at approximately $3,235,000. Finally, Quest Capital Management Inc. ADV bought a new position in shares of Campbell Soup in the third quarter valued at approximately $169,000. 50.88% of the stock is owned by institutional investors.

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; Campbell's tomato juices; and Pacific broth, soups, non-dairy beverages, and other simple meals.

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